Digitalization of the meetings industry - statistics & facts
The meetings industry, part of the broader business tourism sector, represents all organizers, suppliers, and travelers associated with meetings, exhibitions and trade fairs, congresses, conferences, and incentive trips. In 2020, while the coronavirus (COVID-19) pandemic forced this sector to cancel, reschedule, or move in-person events online, the market size of the global meetings industry was estimated at roughly one trillion U.S. dollars. As the health crisis limited the opportunity to run face-to-face events, the industry looked at alternative ways to conduct business, adopting either online-only or hybrid solutions. As a result, roughly 30 percent of association meetings held globally were exclusively virtual in 2020, and half of the fairs projected worldwide in 2021 included digital or hybrid formats.
