Paul Kennedy, AIME Media Conference

"Speech ? Paul Kennedy, AIME Media Conference
2.45 pm Monday 18 February, AIME Media Office

Good afternoon and thank you for your attendance.

In my role with Reed Travel Exhibitions, I am more often than not travelling in Europe, North America, Asia or Australia, attending both our own company events and other meetings.

What is clearly apparent in each of these markets is that meetings and incentives business is buoyant.

? MPI?s annual FutureWatch study points to impressive demand and growth in both North America and Europe.
? Our own research in China and the Middle East shows that in these markets demand is growing dramatically.
? Here in Australia, the response to AIME this year has once again been extremely positive, with exhibitors? expectations high for increased business at this year?s event.

And yet, the sub-prime mortgage crisis in the United States will undoubtedly affect consumer spending as credit becomes more inaccessible.

? I understand this is already occurring here in Australia with an interest rate rise earlier this month and another one likely in March.

So the big question is ? will a reduction in consumer spending lead to a depression in the meetings market?

? In my view, only if we adopt an Ostrich approach.

Now is the time to be vocal in emphasising the importance of meetings as a vehicle for effective corporate success as well as a fast growing economic multiplier. And what better place is there to get this message across than at AIME?

MCVB, the Victorian Minister for Tourism, Tourism Australia and the MECC are all here at AIME doing just that, and I applaud them for their initiative.

I believe it is possible for the meetings industry to enjoy sustained growth during a slow-down at a macro-economic level.

If we take our own events, demand from exhibitors, hosted buyers and trade visitors is showing substantial growth.

? At EIBTM in Barcelona last November, total visitor attendance rose by 20%.
? 7,218 visitors and hosted buyers attended EIBTM and a staggering 40,094 pre-scheduled appointments took place, a 17% rise from 2006.
? In addition, EIBTM has gained 400 new exhibiting companies since 2006.

Rosemarie will give you the figures on AIME today, but needless to say demand has been strong.

? GIBTM 2008, the second edition of the Gulf Incentive, Business Travel & Meetings Exhibition, in April in Abu Dhabi, will be larger than the first inaugural show, with an increased number of regional and international suppliers. Countries represented include Abu Dhabi, Dubai, Cyprus, Egypt, Sharjah, India, Singapore, Malaysia, Thailand and Sri Lanka.

So in our business, the indicators are pointing to sustained growth and there are a number of factors to this.

? Recognition of the strategic value of meetings as an element of corporate activity is growing dramatically
? New, emerging markets are adding to demand. E.g. incentives industry outbound from China, outbound meetings business from South America.
? A sense of optimism is evident - thousands of new properties in all regions of the world.
? New CVBs ? many increasing external focus.
? Choice and range of air travel
? Migration from print advertising to live meetings and events fuelling optimism and investment in infrastructure

There is always a danger in the meetings industry that we will hasten a slowdown in demand by predicting it and creating a sense of pessimism in our own companies.

I have seen this happen in two economic cycles and we do not need a hat trick!

Our role at RTE is to meet the business objectives of our exhibitors. That is what we strive to do at AIME and our other events. AIME is about to open, exhibitors are optimistic and hosted buyers and visitors ? well . . . I?ll leave it to Rosemarie to tell the good news.

Enjoy AIME and I look forward to speaking with you over the next two days."