August meetings volume went up

September 12, 2022 – U.S. meetings volume in August was up 136.1 percent compared with the same time last year, according to Knowland, a provider meetings and events data. While the late summer month usually trends lower than July, this year it outperformed the previous month by 6.7 percent. Overall, the industry shows recovery at 85.3 percent of August 2019 levels. 

“Typically, August experiences a minor dip from July. But August 2022 increased slightly, leading the way into September and October, two of the strongest months, historically,” said Kristi White, Knowland’s chief product officer. “Additionally, August recovered to 85.3 percent of 2019 levels, the third month in a row where recovery levels have exceeded 80 percent. This bodes well for the fall and ongoing recovery for the industry.”

August meetings volume increase

Also noted in the monthly report, the average number of attendees increased to 108 from 68 in 2021 and from 92 in 2019. As attendance rose, space per person decreased, averaging 25 square feet per person compared with 37 square feet last August and 31 square feet before the pandemic.

Corporate meetings proved to be the dominant segment yet again, accounting for 63.5 percent of meetings business, with the health-care, technology and training/education industries holding the most events. However, the online retailer, tobacco, construction, urban infrastructure and agriculture sectors reached their highest levels of recovery. 

Source

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