Sustainability Lags in the Events Industry While Budgets are Up

Less than half of the 500 meetings and events professionals surveyed by American Express Global Business Travel have clear goals and action plans related to sustainability. However, 54% consider it highly important in their planning for next year.

According to the survey for the 14th annual Global Meetings and Events Forecast, 47% have defined sustainability goals and an action plan, 23% have defined sustainability goals but no action plan, 9% have an action plan but no defined sustainability goals and 4% don’t have sustainability goals or an action plan but are planning implementation in the next 12 months.

Sustainability Impacts Meeting Location Decisions

Gerardo Tejado, senior vice president, professional services, Amex GBT, said companies are starting to look at CO2 consumption when selecting meeting locations. “There is also more of a focus on local sourcing and food waste management,” said Tejado in a session at IMEX America 2024.

Cities that offer sustainable options like environmentally-friendly venues, electric vehicle options, and eco-friendly policies are attracting the interest of planners. They include London and Paris. 

Budgets to Increase

Tejado also highlighted that two-thirds of meeting planning professionals expect a larger meeting budget next year.

Internal meetings are particularly popular. Content continues to be the primary driver of attendee acquisition. It’s more important than the venue or destination, said Tejado. “Meeting professionals need to be more strategic in creating content and memorable experiences,” he said.

According to the forecast, 38% of meeting professionals prioritize content and 27% venue.

Meeting Spend by Region

According to the forecast, 70% of meeting professionals in North America expect their meeting spend to increase in 2025 compared with 72% in 2024. In Europe, 65% expect their meeting spend to increase in the next year, while in Asia Pacific and Latin America, this number stands at 70%.

Top Meeting Destinations

The ranking also identifies the top meeting destinations for 2025.

In North America, New York surpasses Las Vegas as the go-to destination for corporate meetings. Tejado attributes this to the increase in internal meetings with short lead times.

North America 

1. New York
2. Chicago
3. Miami
4. Las Vegas
5. Dallas

In Europe, Madrid has moved above Barcelona for the first time. It places behind London. In addition, Berlin has made the top five for the first time. Tejado attributes this to the fact that Berlin is cost-effective. The top five destinations in Europe, Middle East, and Africa (EMEA) for 2025 are:

1. London
2. Madrid
3. Barcelona
4. Paris
5. Berlin

In Latin America, Cancún has jumped to the top spot from fourth last year, with Mexico City dropping down to the second spot. Buenos Aires jumped from fifth to third, Costa Rica is a new entry to the top five, and São Paulo dropped from third to fifth.

1. Cancun
2. Mexico City
3. Buenos Aires
4. Costa Rica
5. São Paulo

In the Asia-Pacific region, the top three remained the same as last year, but Hong Kong and Sydney switched places.

1. Singapore
2. Tokyo
3. Bangkok
4. Hong Kong
5. Sydney

The complete Global Forecast from Amex GBT Meetings & Events is available here.