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Mice Net : February 2009
news Storm and rainbow over Sydney Harbour, the Opera House and Circular Quay. weathering the T his information has been supplied courtesy of Business Events Sydney. For more details on opportunities in Sydney for meetings and events turn to page 109. “The international association arena will be less affected because of the long lead-time of their bookings. But costs may influence delegate numbers and destinations selected. Australia’s extraordinary value- for-money gives the destination an important advantage.” - Martin Lewis: managing editor, CAT Publications, London “While predications are unreliable, association business is more recession-resistant than other industry segments. BE Sydney members need to be nimble, cultivating the ability to react quickly to the opportunities as they arise in a variety of markets. Traditionally, Australia is one of the most nimble destinations in the world, having developed this culture due to its geographic location.” - Martin Sirk: CEO, ICCA “Target associations with high socio-economic membership as they are indicating resilience to the current chaos. Feedback from global associations is that health and medical sectors must continue to meet. Meetings will go ahead, but often on a smaller scale.” - Cecile Koch: editor, HQ Magazine, UK 46 mice.net financial storm: industry insights Business events industry leaders from around the world speak openly on sydney and Australia’s chances for surviving the global economic downturn. “The China market will not be affected, as they are quite separate from the US and not so directly connected to the financial crisis.” - Carl Wen: Amway China “There will be some impact, but China will likely be the least impacted of all Asian countries. Companies are just more cautious of spending. There is optimism in the insurance sector: the industry in China is about 20-30 years behind the US, and therefore will continue to grow independently. However, automotive sales are suffering, and the industry is cutting back on travel budgets.” - Christopher Zhang, MD: PTC Travel & East Shanghai Travel Service “Clearly these are tough times and the industry is going to have to work smarter in the short term to meet expectations. But the mid- to long-term outlook remains solid. Chief marketing officers around the world are allocating more budgets to meetings and events; the need for organisations to connect to opportunities across cultures and geography has never been higher; generational demographics and new emerging economies are creating a whole new cohort of meeting and event attendees. Global investment in new venues is enormous, yet forecasts still call for a looming talent shortage of meeting and event professionals.” - Bruce MacMillan: President and CEO, MPI