Budget and expenses
When considering large events with exhibitions, the average budget for meetings and conventions in the United States fluctuated between 2011 and 2019. As of 2019, it amounted to 1.3 million U.S. dollars, up by 100 thousand dollars over the previous year. According to a 2019 survey, the largest part of the budget is normally spent on catering as food and beverages accounted for 29 percent of exhibition and meeting costs. Naturally, sending employees to corporate events is also a cost for their companies, which normally cover business travel expenses. As of 2019, the cost per attendee of conferences and tradeshows in North America amounted to an average of 657 U.S. dollars.COVID-19's impact on exhibitions and meetings
The coronavirus pandemic had a large impact on the exhibition, convention & meeting industry. Travel bans and recommendations for physical distancing were put in place worldwide, resulting in several in-person exhibitions and meetings being canceled or rescheduled. According to a June 2020 survey, the share of organizations canceling B2B exhibitions due to the pandemic in the U.S. reached 73 percent. Meanwhile, the share of canceled U.S. B2B exhibitions offering digital content rose from April to June 2020. Ultimately, while the meeting industry is making the most out of digital options during the pandemic, a December 2020 poll found that over half of U.S. travelers who recently attended a convention or conference preferred in-person meetings over hybrid ones.
