1. Events Management Lecture The Economic, Technological and Demographic Trends Changing the Events Market Rob Davidson Senior Lecturer – Business Events Management University of Greenwich

2. Economic Trends in 2013 Gradual, slow recovery in many advanced economies: USA, Japan … More European economies move out of recession Business confidence is growing But North / South differences remain, within Europe

3. Economic Trends in 2013 Some of the emerging economies (BRICs) have experienced a slowdown this year The IMF now expects a global growth rate of 2.9% this year (a cut of 0.3% from its July estimate)

4. Economic Trends in 2013 Positive performances by some key client sectors: Information & Communications Technology Automotive (except in Europe) Pharmaceuticals (except in Europe) Construction (except in Europe)

5. Impacts on Corporate meetings Association conferences Incentive Travel Business Travel

6. Technology Trends Harvard research confirms that face-to-face is the preferred medium through which to change or influence behaviour, and to do business But technology is now a permanent part of the meetings mix, adding value to face-to-face, for example through online delegate registration Products such as Telepresence provide compelling alternatives to face to face, delivering cost savings and sustainability benefits

7. Technology Trends Increasing use of mobile devices and social media Meeting venues will need to provide greater connectivity and bandwidth More acceptance of hybrid meetings Conference content capture, by associations

8. Technology Trends Tweet boards

9. Technology Trends Meeting spaces are becoming more flexible and technically enhanced to meet the changing demands of meetings Content is widely available on the www So participants want to connect to speakers or other colleagues at a conference: active learning

10. Technology Trends The space and design of venues must work to support collaboration

12. Technology Trends The 70-20-10 rule Adults learn 70% of their job from peers (social learning) 20% from reading or internet research (self- directed learning) Only 10% from formal learning such as training.

13. Demographic Trends FOUR generations in the active population: Traditionalists, born between 1925 and 1942 – mainly retired Baby Boomers, born between 1943 and 1960 – beginning to retire Generation X, born between 1961 and 1976 - managing Generation Y, born between 1977 and 1995 – demanding !

14. By 2025, approximately 75% of the world’s workforce will be Generation Y

15. “We are moving away from the values, attitudes and lifestyles of the once influential Baby Boomers (born 1943 to 1960) toward the values, attitudes and lifestyles of the younger generations”. (Hira, 2007) Bye bye, Baby Boomers

16. Generation Y Characteristics Seeking work-life balance Blurring the lines between socialising and work Global citizens Socially and environmentally conscious Life-long learners Seeking access to personal development

17. Generation Y Characteristics Technically competent – Electronic devices are ‘extra limbs’ – The web is a 2-way communication tool – Multi-tasking Instant gratification – Shorter attention spans – Need constant feedback – Like a lot of options

18. From speakers, they want - SHORTER presentations Infotainment / Edutainment ‘The adult learners of today expect "infotainment," the delivery of information in an entertaining format… There aren't many places that people go where they are not treated to a ‘show’ - and meetings are no exception’. Ramsborg G and Tinnish S, How Adults Learn, Part 2, from Convene magazine (PCMA), February 2008.

19. From speakers, they want - Information that can help them advance in their current jobs or become better prepared when they move on. Motivational speakers don’t motivate them. Information they cannot get off the Internet or from a book. Speakers who are in a position of power. They want to know how the ‘game’ is played. (Ann Fishman www.annfishman.com)

20. Designing events that will attract Generation Y They love interactivity They want involvement at the planning stage -Choice of destination : matters more to them -Choice of topics, speakers -Choice of social activities

21. More – and better – use of technology “The full capabilities of technology must be exploited before, during, and after a meeting. Blogs, mobile phones, YouTube, Facebook, MySpace, podcasts, virtual meeting environments, RSS feeds, videos, widgets, mashups, wikis, moblogs, and social networking sites”. Ramsborg and Tinnish, 2008

22. Demographic Trends But rapid growth in the number of people in their 60s and 70s attending conferences … These have their own demands and needs which must be met.

23. 2014 Positive outlook The IMF expects global growth of 3.6 percent in 2014 But ongoing risk of instability: political, social, economic Meetings budgets still under pressure But moderate growth predicted by most meetings-related forecasts

24. THANK YOU, EVERYONE R.Davidson@greenwich.ac.uk