World Travel Market (WTM) 2011, the leading global event for the travel industry, will generate a massive £1,653 million (US$2.6 billion) in travel and tourism industry deals – an impressive 16 percent increase on WTM 2010.
Independent research of World Travel Market’s exhibitors shows WTM 2011 will generate £1,653,729,318 million in deals, either through contracts signed at the event or from negotiations with Meridian Club members, which will lead to deals before WTM 2012.
WTM 2010 generated £1,425 million in business deals, either on the exhibition floor or in the 12 months that followed, which was a 25 percent increase on WTM 2009’s £1,139 million.
The increase in business generated by WTM 2011 can, in part, be accredited to the overhauled Speed Networking session – which allowed exhibitors and buyers even more time to negotiate and conclude deals.
Speed Networking took place as a one-hour-long session before the exhibition opened on the first day of WTM 2011 (Monday, November 7). Previously, Speed Networking was in 5 45-minute sessions – based around the regions of the exhibition – throughout the first day.
The change increased the amount of time at the event for exhibitors, and Meridian Club members could conclude negotiations on the exhibition floor, in-turn helping to increase the amount of business generated because of the event.
An extra business opportunity was also introduced on the final day of WTM in the shape of the WTM Networking Breakfast, giving exhibitors and Meridian Club members a further event to meet up and discuss business deals.
Furthermore, an impressive 94 percent of exhibitors are “extremely likely” or “likely” to exhibit at WTM 2012, which takes place between Monday, November 5–Thursday, November 8.
While, 96 percent of exhibitors feel it is “very important” or “important” to exhibit at WTM, 96 percent of exhibitors were “completely satisfied” or “satisfied” about their most recent time at WTM.
Reed Travel Exhibitions Director, World Travel Market, Simon Press, said: “World Travel Market 2011 has seen, and will lead to, a phenomenal amount of travel and tourism industry business being agreed.
“The expanded Speed Networking program played an important role in the success of WTM 2011 for both exhibitors and Meridian Club members, offering both stakeholders increased opportunities to meet new contacts, sign contracts, and conclude deals.”
“The amount of business conducted and the findings from the exhibitor research, shows WTM is delivering on its commitment to facilitate business in the travel and tourism industry.”
Press continued: “I am delighted that the amount of business conducted at World Travel Market continues to increase, firmly positioning WTM as a must-attend exhibition for national and regional tourist boards, global brands, and technology companies.
“The amount of business conducted at WTM clearly demonstrated WTM Means Business.”