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Get ready for a price increase in 2018

Get ready for a price increase in 2018

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By Asun Paniagua First studies for 2018 start to appear showing trends, popular destinations and evolution of costs in hotels and air rates. And here comes the painful news (although not for all): prices will continue to rise significantly. According to the 2018 CTW Meetings & Events Trend Report, the costs of meetings and events are increasing worldwide in key markets, with a forecast increase of 3.7% in hotel rates and 3.5% in air transport. It's clear: we are in a sellers' market.

Without bringing a huge surprise, other trends for 2018 are focused on targeting the event, involving of attendees, involving measuring and investment payback (ROI). Planners will tend to simplify the meeting to make it easier for attendees to enjoy the experience; and technology will help to create these personalized experiences.

Security and prevention will be more important; a rigorous planning will take into account the possibility of physical and cybernetic risk. It is impossible to ignore the weight of security and prevention when choosing places in Europe, Middle East and Africa, with many countries discarded. We should not forget the impact of the terrorist attacks in Barcelona, ​​Berlin, Brussels, London, Manchester and Paris.

In addition, the report puts us on track of which cities will be the most popular to hold events and meetings in 2018, and the estimated daily cost increase per attendee. Asia Pacific will show the highest price increase, with an estimation of 5%, especially in the three most demanded destinations, Sydney, Bangkok and Singapore. In Europe, London, Barcelona and Berlin top the list, with an estimated price increase of 4%. If we go to North America, the price increase will be around 3% and the most popular cities will be New York, Toronto and Cupertino/San Jose (California). In Latin America, along with Sao Paulo, Rio de Janeiro and Mexico City, there are other less known destinations such as the exotic Atacama Desert in Chile or the Iguazu Falls. This is the continent that will experience the lowest cost increase (1%).

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