Cvent report details the growth, trends, potential challenges and impact of the meetings industry
Brought to you by Cvent
In the ever-evolving landscape of the hospitality industry, the meetings and events sector in the Asia-Pacific (APAC) region is showing robust growth and optimism as we look ahead to 2025. According to the latest Cvent/NorthStar Meetings Industry Pulse Report, APAC planners are gearing up for a busy future with more meetings and increased attendance.
Navodit Srivastava, senior regional director, sales, Cvent, discusses the report’s key findings and what they mean for hospitality professionals in the region.
Optimism and confidence on the rise
The report highlights a significant surge in optimism among APAC planners. An impressive 63 per cent of planners reported feeling more optimistic than they did six months ago, the highest rate of optimism compared to their counterparts in North America and EMEA (Europe, Middle East, and Africa). In fact, 43 per cent of APAC planners are currently involved in sourcing new events and 26 per cent are booking new business.
Anticipating growth in meetings and attendance
A noteworthy 56 per cent of APAC planners anticipate producing more meetings in 2025, while an additional 35 per cent expect to maintain the same volume. This level of confidence is unmatched globally, underscoring the strength of the meetings industry in APAC. Furthermore, nearly 45 per cent of planners foresee stronger attendance at next year’s events compared to 2024, indicating a robust demand for in-person gatherings.
Popular destinations and trends
South-east Asia came across as the top regional destination as cited by 85 per cent of APAC planners, with Singapore and Thailand leading as the most popular intra-regional destinations. Interestingly, there is also a growing interest in Europe, with 52 per cent of APAC planners planning events on the continent, surpassing the interest in Northeast Asia at 43 per cent.
Challenges and concerns
Despite the optimism, APAC planners face several challenges. Higher costs for goods and services, budget constraints, and rising airline prices are primary concerns. Accommodation rates have been cited as the biggest hotel-related challenge, putting pressure on planners to find cost-effective solutions without compromising on quality.
Key decision factors
When choosing a site for their meetings, APAC planners are prioritising costs and quality over other factors such as sustainability or corporate social responsibility. This shift underscores the importance of providing value-driven solutions that meet planners’ budgetary constraints while ensuring high standards of service and facilities.
What does it mean for hospitality professionals
These findings present both opportunities and challenges for hospitality professionals. The anticipated growth in meetings and events demands a proactive approach in enhancing service offerings, managing costs effectively, and ensuring competitive pricing.
While rising costs are a concern for planners, they prioritise the services offered by their preferred venues. They prefer hotels and venues that are easy to work with, collaboration is key between planners and hoteliers throughout the event planning journey to ensure a successful event, contributing to delivering a seamless and memorable experience for attendees.
Investing in a platform that facilitates this collaboration is crucial, for example, Cvent Passkey bridges the gap between registration and room blocks for planners and simplifies group bookings by automating rooming lists for hoteliers.
By collaborating closely, planners and hoteliers can overcome challenges and optimiseresources to meet event objectives. Clear and timely communication throughout and well-coordinated event management will lead to a more successful event. This puts the venue in a great position to win repeat business from their planner partners.
Conclusion
The state of the meetings industry in APAC is strong, with a promising outlook for 2025. As planners prepare for more meetings and larger attendee numbers, hospitality professionals must rise to the occasion by delivering value-driven solutions and maintaining high service standards. By addressing the challenges and leveraging the opportunities, the hospitality industry in APAC can continue to thrive and lead on the global stage.
For a deeper dive into the findings and to stay updated with the latest trends in the meetings industry, download the latest Cvent/NorthStar Meetings Industry Pulse Report – APAC Edition.
Navodit Srivastava, senior regional sales director, Cvent, is a transformational entrepreneur and senior commercial leader with over 20 years of experience driving revenue growth in SaaS, hospitality, travel, AI and software industries. With a proven track record of building high-performing teams, creating strategic partnerships, and delivering measurable results, he is passionate about harnessing AI, software and innovation to drive business growth and unforgettable MICE experiences.
