EIBTM 2008 Industry Trends & Market Share Report - HCB

industry is the news that respondents to the Roland Berger study say that the largest
potential for further cuts is in marketing and sales. In the midst of the massive
changes that the pharmaceutical industry will be facing over the next few years, the
up-and-coming BRIC countries will become much more important as markets. At the
same time, price and innovation pressure will continue to intensify.
Nevertheless, a report published in August by Merrill Lynch analysts said that second
quarter earnings for the big European pharmaceuticals were on average 7 percent
higher than expected. There has been an unprecedented surge in merger and
acquisition activity in this sector – and that in itself is fuelling the meetings market.
This brief review of some key client sectors offers little encouragement for suppliers
and for those who organise events on behalf of the construction, financial services,
automotive and pharmaceutical industries. Widespread redundancies in many such
companies mean that employers will be reluctant to be perceived as spending
lavishly on events, in a context of shedding staff. However, one unexpected, and
positive, consequence of the turmoil in the economy in general is that the high level
of corporate restructuring currently underway is generating additional meetings
activity in many industry sectors, including those reviewed above. For example, Fay
Beauchine, executive vice president of global meetings, incentives and events,
Carlson Cos. Has stated that:
‘It's too soon to tell what's going to happen with [financial and insurance] meetings
and incentives, but I see a focus in the short term on more meetings to merge
cultures’. (Financial and Insurance Meetings 07/10/08)
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