Future Megatrends in Business Events – we have them all!

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Future Megatrends in Business Events – we have them all!

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8 Megatrends and the Generation Y Requirements Which Every Meetings Industry Player Should Be Aware Of

The term ‘megatrend’ was created by John Naisbitt, a U.S. trend researcher, who published a book with the same title in 1982. Thirty-two years later, the German Convention Bureau, their partners and the Institute for Futures Studies and Technology Assessment conducted a thorough study which showed some very precise trends regarding the meeting industry by 2030.

Every meeting professional should actually consider those trends very carefully, because the future is already here. Are you ready for it?

Here are the findings of the study – the top 8 megatrends along with some concrete solutions which CORAL group DMC is already implementing or developing with our destination partners in meetings & events industry in Croatia.

Megatrend nr. 1: Globalization and Internationalization

Expectations are high and events become more international, meaning that we have to create products and services suitable for participants from different cultures and religions. Food options (including halal, kosher, Indian etc.), necessary meeting breaks and locations for prayer or similar. This does not mean that we should change our identities, on the contrary, but those with strong intercultural skills and options will be more competitive.

We cooperate with hotels, restaurants and caterers in Zagreb, Zadar, Šibenik, Split, Dubrovnik, Istria, Kvarner, on the islands or in the inland of Croatia, who prepare and serve halal or kosher friendly meals or have the certificates of such standards in food preparation.

Megatrend nr. 2: “Peak Everything” – Shortage of Resources

Climate change, shortage of resources and stress from more directions affect many participants or speakers.  Hence, the destinations, organizers, venues and service providers who do really care about sustainable production, green meetings and events will be the wanted ones or at least more in trend.

CORAL group’s employees are all bicycle commuters. We avoid printing whenever possible and offer incentive or team programs like e-bike or segway tours, sea kayaking and others which are 100% eco friendly.

 Megatrend nr. 3: Urbanization – The City of the Future

In 2030 more than 60 % of the global population will be living in the cities. Hospitality, good organization, openness and tolerance, safety as well as a city’s appearance, cultural offers or special conditions of the surroundings will be decisive criteria for participants to come to your town/destination for an event.

No doubt, our agency team and all chosen suppliers are 100% hospitable, tolerant and creative in a way that we do not push the programs which might be profitable, but create additional rush and stress in town. We care about the local community as well as about the clients.

Megatrend nr. 4: Demographic Change, Feminization and Diversity

According to UN projections, the world’s population will be approx. 8.5 billion people by 2030. Further diversification is expected at meetings and events. Characteristics that are considered rather “feminine”, such as team spirit, social competence and multitasking skills are of high importance now. Women are highly educated, luckily equal to men in more and more countries, so do consider this trend within your own company and organization and when structuring an event. Demographic change also requires adaptations for people with disabilities or older people.

CORAL’s standards include equality of all human beings and great teamwork is present at every stage of work, in-house or with partners.  Participants with disabilities are assisted from the airport arrival to each stage of the conference or social program, as well as through creating special adaptable activities, if team building programs are included.

Megatrend nr. 5: Technology in Work and Life

Virtual events will not replace the “real ones”, but event technology, social media, real-time information and communication is a must. Classic event formats are changing, becoming out of date, so think about how to attract or engage the audience which often meets virtual reality, uses numerous interactive apps and expects much more technology than it used to be on the meetings not so long ago.

CORAL group proposes new formats, we want to ‘shake’ the clients and take them out of the box, when structuring an event. In terms of technology, all available solutions are on the table. At the end of the day, the final product itself depends enormously on the client’s budget.

Megatrend nr. 6: Sustainable Development

Only those destinations and service providers who work and live in a sustainable way, whatever it may be at your level, will be competitive and rewarded by the clients and event organizers. Sustainable event is the one designed, organized and implemented in a way that minimizes potential negative impacts and leaves a beneficiary legacy for the hosting community and everyone involved.  Every company and individual should follow this UN’s definition and recommendations.

Not only through the environmentally friendly projects, but also through engaging all new products and services created by the local community, CORAL contributes to sustainable development.

Megatrend nr. 7: Mobility of the Future

Buyers and participants consider destinations also according to their mobility options and costs. Different transportations solutions have to be created and offered. Bikes, e-bikes, segways, Uber, car sharing providers or similar might be a part of the solution in your destination. This new technology, like user-friendly applications showing best options, might also attract the participants.

After the ‘first shock’, when we realized that new generations of buyers and meeting participants sometimes organize themselves and do not use agency transfers, but Uber or similar service, we adapted to future trends that are already here – no fear if Uber, airb’n’b or any other new services take a piece of our ‘destination cake’ within a business event or a conference – we are aware that on the other hand such services make our destinations more competitive. They attract more business, from which we all may gain potential clients and profit.

Megatrend nr. 8: Security and Safety

From data security, via personal safety to overall security, it will become more and more important to clients. “Security and safety guarantee” might and should come from the whole community directly – each individual, firms and all institutions in charge are responsible and may create a pleasant and tolerant space, suitable for major international or global events.

This topic or megatrend is probably the most complex to handle, as we sometimes simply cannot do anything of a major influence. However, by providing excellence, good organization and contingency plans for ‘all situations’ together with our partners, it is the way how we organize business events.

These extensive and complex trends are important for all of us to understand – suppliers and buyers, so that we structure and execute sustainable programs, support tolerance and leave a beneficiary legacy for the hosting community and everyone involved.

 

Slaven Reljić