A surge of innovation in 2024
In 2024, the meetings and events business experienced a surge in new ideas and technologies, encompassing technological breakthroughs, a substantial sustainability movement, and fundamental shifts in attendees' attitudes toward events. As we enter the second half of the year, several trends, including the advent of the metaverse and the growing importance of individualized attendee journeys, are influencing event planning, execution, and experience. Meetingselect, a booking platform connecting the entire meetings and events sector, is closely monitoring these advancements and the top MICE trends reshaping the events scene.
- 1. The Metaverse broadens event horizons
The metaverse, which combines digital and physical realities, is one trend that has piqued people's curiosity. Events are adopting novel virtual formats, allowing guests to immerse themselves in simulated conference environments while wearing headsets and networking with avatars of other attendees. While reminiscent of science fiction, improved metaverse platforms will make these futuristic experiences a reality in 2024.
- 2. Hybrid and multi-hub events
While the excitement of live, in-person events is unrivaled, we welcome the rise of hybrid and "multi-hub" models that enhance accessibility and promote environmental sustainability. Hybrid events easily mix physical and virtual components to provide a unified experience. Multi-hub events take this notion a step further, allowing attendees to engage from various live venues in different cities, all linked together through rigorous design and fascinating content. These approaches combine the appeal of in-person gatherings with logistical flexibility, giving attendees the best of both worlds.
- 3. AI-powered planning and matchmaking
Amid innovation, Artificial Intelligence emerges as a pivotal tool for event planners in 2024. Intelligent algorithms solve various problems, from recommending sites adapted to individual needs to reducing food waste through insightful catering projections. The genuine game changers are AI-powered matchmaking technologies that connect attendees with relevant visits and sessions based on their goals and tastes. This AI integration increases event production to previously unprecedented heights.
- 4.Sustainability as a differentiator
As AI contributes to the intelligence behind event planning, sustainability justifiably takes center stage in today's environmentally conscious world. An overwhelming 90% of consumers actively seek sustainable options solutions for all elements of events, including venues, vendors, and destinations. Ethical corporations also prioritize comprehensive sustainability initiatives, including reducing disposables, sourcing locally, and supporting innovative upcycling. Protecting the environment is not only moral but essential for good business practice.
- 5.Increasing costs and budgetary considerations
The approaching challenge is severe fiscal restrictions, aggravated by epidemic recovery and inflationary pressures. With more than 85% of planners expecting increased costs in 2024, organizations are responding by expanding their event budgets. Finally, the capacity to create unique, proprietary experiences while effectively communicating actual value propositions will be critical in landing premium events.
- 6.Bleisure travel
A clever way to stretch a budget is to take advantage of the rising business and leisure combined travel trend, which has attracted millennials. A stunning 70% of younger business travelers are prolonging their corporate trips to incorporate leisure activities, with nearly half choosing to bring along friends. Event organizers can take advantage of this trend by offering choices for prolonged hotel stays, supplementary plane tickets, and destination services.
- 7. Unique attendee experiences
While costs remain a top priority, personalizing the guest experience has become a key goal for 2024. Generic convention facilities are giving way to more creative choices, with 64% of planners opting for unique venues like art galleries, historic buildings, and attractive outdoor settings to drive engagement and provide an unforgettable brand experience. As a result, bespoke social activations, mindfulness programming, and gastronomic experiences are prioritized to elicit the desired "wow" response.
- 8. Streamline the RFP process
Indeed, these trends are only as effective as the event partners participating. Antiquated RFP processes are being digitally transformed, with an estimated 80% of client-supplier interactions projected to shift to online platforms and AI matchmaking tools by 2025 . This transformation allows for data-driven decision-making and personalized recommendations throughout the planning phase. The future is approaching, and event technology is prepared to meet the challenge.
9. Health and wellness activities
One of the most hopeful developments in 2024 is the mindful renaissance, which prioritizes well-being at events. After years of idle virtual conferences, introducing nutritious brain-food catering, energizing team workout programs, mindfulness lounges, and other wellness services is a welcome change. Events have evolved from content delivery devices to venues for nourishing the mind, body, and soul.
Accepting transformative trends
To summarize, the MICE industry is currently in a transitional phase, with the following themes impacting experiences in 2024: creative formats, sustainability in action, individualized journeys, and a focus on self-care. By adopting these trends, event organizers can create remarkable experiences, establish meaningful relationships, and promote a more sustainable and inclusive meetings and events industry.
Explore how Meetingselect can assist you in orchestrating exceptional events that captivate attendees. Begin your exploration of our platform today and unlock access to a plethora of event planning resources, invaluable industry insights, and an extensive network of venues.
