At the recent WITX-Women In Travel, Elizabeth Rich (pictured right), a leading global thinker in the industry and who runs her own business events consultancy, Agenda Pty Ltd, shared 10 top trends to watch out for.

* Alliances/cooperation: This is one of the key components for successful business events – be it cooperation among countries (especially in ASEAN where intra-travel is common) or among hotels and destination management companies. Find yourself some buddies, said Rich.

• Global consolidation, rise of corporate travel managers and third parties: Examples are companies such as the MCI Group, BCD Travel and Carlson Wagonlit Travel. Corporate travel companies are realising that they too can go after the corporate meetings market and have set up divisions to look after these needs. “They not only help to control travel expenditure, but also meetings expenditure for your companies,” said Rich.

• Rise of supply-led demand: Example integrated resorts being built in emerging destinations, widening the choice for meeting planners. Korea has rocketed in terms of choice of second tier convention destinations. Other destinations include Busan, Jeju (both in Korea), Bali (Indonesia) and secondary cities in China. “Where next? Myanmar perhaps?” queried Rich.

• Regionalisation and cloning of business events: Rich predicted a huge growth in this area in Asia, backed by the numbers of delegates (for business events) growth in the continent. She identified Web in Travel (WIT) as an example of cloning growth – with WIT branching out to WITX, WITNext, WIT Australia and the coming WIT Japan (May 25). “It’s going everywhere else around the world.”

• Intelligent destinations/ smart cities: She urged marketers to reconsider their Business Events branding. In the past, it may have been enough to sell destination appeal and today, people were looking for efficiency, cutting edge thinking and smart ideas.

• Subvention – buying business: Some destinations were being very aggressive in buying business. “Target what you want and be prepared to deal. Be innovative,” she said.

• Unconferencing and conferencing 365: Unconference is a participant driven meeting. “Reshape your conference programme and get ready for 365 servicing.”

• Entrepreneurial and inaugural events: Increasingly, entrepreneurs are finding new niches and creating new events. The whole phenomenon of social media for instance has spawned a whole new generation of events around social media.

• Death by RFP (Request for proposals): The industry has never faced such a huge demand for RFPs as competition escalates. “Find a way to manage the flood.”

• Business Events advocacy – beyond tourism: She called for the acronym, MICE, to be eradicated and urged for the adoption of the term “Business Events” throughout the industry. “Broaden your perception of this sector, advocacy begins at home,” said Rich, who until last year ran the Business Events Council of Australia (BECA) where she championed the industry’s rights to government.

Rich’s presentation was very well received with many delegates saying “she is a great source of insights and inspiration.”

Eric Koh from Singapore tweeted, “Incredible sharing by Elizabeth Rich on business events. She knows her business, markets and opportunities very well.”