What Economic Downturn?

Last month, the Natl. Business Travel Assn. and Destination Marketing Assn. Intl. shows both broke attendance records. Following suit, Meeting Professional Intl.'s World Education Congress also posted record-breaking numbers with close to 4,400 registered attendees. MPI President and CEO Bruce MacMillan said, "It's just phenomenal. We couldn't be more excited." The uncertain economy was a factor in the higher numbers, he added. "People want to get together and look for a solution," MacMillan said. "There's wisdom and crowds." He also credited Las Vegas as a great draw and, in particular, the work of the Las Vegas Convention & Visitors Authority and Mandalay Bay Resort & Casino. Bill Hornbuckle, Mandalay's president and COO, told the MPI crowd, "You came in such numbers. Gosh, golly, gee, thanks!"

This is the uncertainty that is going on in the economy. Some companies are taking it to the market, capitalizing on the retrenchment of their competition and seeing great results. If there are any comments about the economy that tradeshow, sales or marketing coordinators wish to share, please feel free to do so. One very large client of ours recently discussed a $200,000 purchase and then after having their budget decreased dropped it to $90,000. On the surface this may be cause for concern, but I look at it and say that this company was confident enough in face-to-face marketing to spend almost $100K on exhibits. Once again mixed signals in the economy. We are finding great opportunities and also finding hesitation as well. Fall is usually a very good indicator of what the Christmas buying season is going to be like. As marketing goes, so goes the rest of the economy. We, like most marketing companies are at least 6 months ahead of the economy and at this point we are cautiously optimistic about hitting our targets for 2008.