The Strategic Alliance of the National Convention Bureaux of Europe
Language:
English
Study on Impact of Coronavirus on European Convention Sector
May 2021
MICE
MICE
We anticipate that by 2022 most restrictions will have been lifted. The removal of restrictions will give large corporations and event planners confidence in the future and will allow some rapid recovery of the sector. Nevertheless, spend levels in 2022 will still be 33% below 2019 levels.
Medium term shifts in traveller behaviour and the use of online video platforms for hybrid meetings and all-virtual gatherings will delay a full recovery.
Visits will recover by 2024, however the substitution of domestic travel for international travel alongside a reduction in the average length of stay of participants means that convention and event spending is not expected to recover until 2026.
There is a high level of uncertainty around how this crisis will continue to unfold over the coming months and the profile of the future recovery. There are a number of key risks that surround our baseline, including:
Vaccine supply and rollout
When we will exit restrictions
Future convention participant behaviour
The upside scenario anticipates early easing of restrictions, a rapid upturn in economic growth, and limited negative sentiment effects. This is due to better than expected control and suppression of the coronavirus and minimal additional use of hybrid and virtual platforms in the later years of the forecast period.
For the downside scenario, the continued prevalence and effects of the virus will lead to the maintaining of some additional restrictions into 2022. When conferences and meetings do return the format will be different for some years to come. Many conferences will continue to be completely virtual while others will be hybrid events.
Contents:
Executive Summary
Forecast Overview
Baseline Outlook
Scenarios
Appendix: Methodology & Data Sources
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Study on Impact of Coronavirus on European Convention Sector
May 2021
MICE
MICE
We anticipate that by 2022 most restrictions will have been lifted. The removal of restrictions will give large corporations and event planners confidence in the future and will allow some rapid recovery of the sector. Nevertheless, spend levels in 2022 will still be 33% below 2019 levels.
Medium term shifts in traveller behaviour and the use of online video platforms for hybrid meetings and all-virtual gatherings will delay a full recovery.
Visits will recover by 2024, however the substitution of domestic travel for international travel alongside a reduction in the average length of stay of participants means that convention and event spending is not expected to recover until 2026.
There is a high level of uncertainty around how this crisis will continue to unfold over the coming months and the profile of the future recovery. There are a number of key risks that surround our baseline, including:
Vaccine supply and rollout
When we will exit restrictions
Future convention participant behaviour
The upside scenario anticipates early easing of restrictions, a rapid upturn in economic growth, and limited negative sentiment effects. This is due to better than expected control and suppression of the coronavirus and minimal additional use of hybrid and virtual platforms in the later years of the forecast period.
For the downside scenario, the continued prevalence and effects of the virus will lead to the maintaining of some additional restrictions into 2022. When conferences and meetings do return the format will be different for some years to come. Many conferences will continue to be completely virtual while others will be hybrid events.
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