Let me guess. Your workday today was consumed with meetings, contract negotiations, budget discussions, personnel issues … and then some more meetings. Maybe you made it to a networking event, but odds are you didn't have the chance to reflect too much on the state of the meetings industry - where it is, where it's going, what macro-trends might be affecting us, and what we as meeting professionals can be doing to stay ahead of the curve.

That's where Convene's 2007 Meetings Industry Forecast comes in. This annual must-read edition pulls together a vast array of trends directly or indirectly impacting the meetings industry and provides key intelligence from a variety of experts. In general, this year's numbers look good for exhibitions. Both the 2006 reports and 2007 forecasts indicate modest growth. Overall travel levels are positive, and hotel occupancy is strong. Yet, there are a few economic scenarios taking shape that may soon have significant implications for meetings.

One is the nationwide economic downturn expected in 2008 after the presidential elections. Travel budgets - as well as marketing dollars for exhibitors - are likely to be tighter. It makes sense for us to take steps now to protect against potential financial vulnerabilities. Another economic consideration is the hotel market: It is already in or will soon enter a mature phase. With more rooms in supply, occupancy is not expected to increase much, though rates are expected to continue to rise. Meeting professionals may still need to look to second-tier cities, suburban areas in the major metros, or off-peak dates for rate relief.

As for U.S. air travel, only a scant increase in passengers is predicted for the coming year. Negative attitudes toward business travel remain, as travelers deal with more delays and less comfort and convenience. As meeting professionals, we must work to offset that negative mindset by effectively communicating to potential attendees the promise of better on-site experiences, and better take-home value than ever before.

The impact of technology on the meetings industry cannot be understated; we've devoted an entire section of our forecast to the topic. Just about all kinds of online activity are expected to double from this year to next. In the next few years, proactive meeting managers will take advantage of a variety of social networking tools to reach out to and connect with potential attendees; more of you might even find virtual meetings to be effective.

Yet, despite all of the buzz about social networking and online marketing, popular opinion still supports the notion that nothing can quite replace face-to-face interaction. To keep this sentiment alive, the meetings industry needs to continue to work together to promote its value, and we all need to do our part to quantify the ROI of our individual meetings.

In spite of - or maybe because of - all the challenges and changes, it's an exciting time to be part of the meetings industry. True, there's not much time for us to stand still. But our annual forecast issue gives us an opportunity to catch our breath, reflect, and get some necessary perspective for the future.

What's the single most important issue that will affect the meetings industry in the next few years? I'd love to hear your thoughts.

Deborah Sexton
President and CEO
deborah.sexton@pcma.org