Encore Global Planner Pulse October 2022
The impact of rising costs on bookings is uncertain. In Cvent’s most recent findings, 86% of meeting planners said rising costs were having a material impact on their operations, which is up slightly from August. Further, corporate card and expense platform Ramp found that budgets for future business trips were almost 24% lower in June 2022 than the previous year. In contrast, Encore Global’s Planner Pulse Survey for Q3 found approximately three in five Meeting Planners expect their budgets to increase in 2023 and a third expect them to remain flat. In addition, the August 2022 edition of the Meetings & Events Pulse Survey conducted by Global DMC Partners (GDP), found that meeting and incentive budgets are not likely to decrease for most organisations and their clients. Only 13% of meeting professionals surveyed saw meetings budgets decrease between 2021 and 2022, with most (52%) increasing over this period.
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