Unfortunately there isn’t a sudden growth spurt in our future – but we are continuing to experience year over year improvements that will get us back to pre-recession levels. For example, for the US and Canada, it’s predicted that in 2013, group size will increase by 4% – 8% and booking windows are booking are increasing by approximately 5% with increased confidence in the future. North American suppliers also understand this is not the time to raise prices – the daily cost per attendee is only expected to rise 4.3% – 5.3%, to contrast this, Latin America will increase by 10% – 12% and more than likely experience a dip in attendance.
It’s no surprise to see that Brazil is the top market to keep your eyes on next year – with new hotel inventory opening daily in preparation for both the Olympics and the FIFA World Cup, prices are looking to increase at the discretion of local hoteliers.
There are plenty of other data trends to analyze, so stay tuned on more 2013 projections. GEP Destination Management will also be producing an industry survey leading into the new year, keep your eyes on your inbox!