India events budgets growing by ’12 per cent annually’
The India meetings and events market is growing dramatically, according to a new market research study, with more than half of respondents reporting an increase in the number of events they have organised in the last 12 months.
The India Meetings & Events Industry Survey (IMEIS) also found that 73 per cent of planners expecting the number of events they organise to increase in the coming year.
The results of the interviews with 195 organisers from the corporate and association sectors, sponsored by CVent and Reed Travel Exhibitions, were analysed by The Right Solution on behalf of CAT Publications and presented to the industry at IBTM India in Chennai today.
It found that average budgets for events have been increased by 11.6 per cent in the past 12 months – and organisers are predicting a further leap of 12 per cent in the coming year.
The results reflect a wide range of activities, including 25 of respondents employing incentive travel either for their own organisations or on behalf of clients. While Mumbai was named as the most frequently used destination within India, the United Arab Emirates was the most popular overseas destination with 47 per cent of respondents saying they have organised overseas events in the past year.
