Virtual experience economy the next big thing in the events industry

The virtual experience economy will be the next big area of growth for the business events sector, according to the latest IBTM World Trends Watch Report.

The report predicts that the virtual experience economy will mean more than just new technologies integrating into existing events, but the creation of an entirely new industry which sees ‘digital’ and ‘experience’ merge.

Major global issues, including climate change, are also assessed in the report, along with an evaluation of what we can do as an industry to contribute positively to the solution.

“This report aims to take a short and medium term look at the global meetings and events industry and the political, economic, ecological and geopolitical trends that will affect it,” said report author Alistair Turner. “This year though, we predict a major long-term trend, the Virtual Experience Economy, that could be as influential as the Experience Economy was before it.”

David Thompson, event director, IBTM World, said the report is an important gauge for the current state of our industry.

“The 2020 report highlights some exciting developments, as well as more serious global issues, and ultimately looks at how the meetings and events industry might play its part in those future opportunities,” he said.

The IBTM Trends Watch report 2020 is available to download at www.ibtmworld.com.