ICCA: “Global financial turmoil hits future meetings industry expectations, but few marketing or staff cuts are planned”
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In the October survey, 8.5% of respondents indicated to have suffered a significant downturn as a result of the economic environment, opposed to 6% in April, whilst 44% report no impact whatsoever, compared to 60% in April. The number of ICCA members reporting a slight impact of the economic environment on their business rose from 35% to 48%.
However, a surprisingly large figure of more than 39% are expecting their company´s 2008 performance to be better than 2007, a year which previous ICCA surveys have indicated was a record breaker in all regions of the world.
Almost 80% expect a negative impact on their business in 2009 (20% reported a “significant impact” and 58% a “slight impact”). However, almost 70% of ICCA members planning answered “no” when asked if they are planning to make cuts in their 2009 marketing budgets compared to 2008 and almost 78% does not expect they have to make any staff cuts in 2009. Life goes on!
