Wednesday, July 8, 2009

The Trickle Down Effect

I would say the pace here at Show Me Arizona has definitely slowed down. Being in middle of the off season has really showed how bad the economy is.

It has been tough for DMC's to be able to get leads because business are afraid to send their employees on an incentive trip thanks companies like AIG. With Obama's Administration basically having a watchful eye on incentive trips and bailout money it has had a bad effect on the business travel world.

The basis of this effect has started with Incentive trip planning. With no trips to plan it leaves DMCs and planners unable to book things such as, hotels, transportation, restaurants, and activities. So everyone's company is hurting. With programs slowing down, it slows the company and the revenue coming in. When business and revenue slows down the Owners/Managers have to either lay off a few employees or let people go. But this is happening in every industry.

With business slowing down around it has allowed some of our vendors to "just be in the neighborhood" to stop by and drop off little goodies to remind us of them when business starts picking up or even invite us to a free meal at their restaurant. Desperate times calls for desperate measures and if it means free food or trips its all worth it in the end if we pick them for our next event.



In my second week here at SMA I did a little research about how the meeting world was suffering. I found this website called Keep America Meeting! it basically explain what is going on and how the meeting and planning are struggling as well as a petition. The petition needs 100,000 signatures in order to be brought legislators. When I saw this I signed up and forward it to my co-workers. They had told me they had already signed it and told me to pass it on to my friends.


Over the past few weeks I have read many meeting & planning magazines that are just trying to get planners to keep hope alive and be positive that things are going to change.

I'm hopeful that things will turn around so the meeting industry can pick up before so many start closing down.


On another note, I also work for a luxury travel consultant. These clients will spend anywhere from $8,000-40,000+ for a trip. That side of the travel industry is not slowing down at all. Just last week Friday, I had 3 new clients all wanted to go on extravagant trips. There are a few select few that aren't struggling that are able to help keep the industry afloat. This might just be because people are stressed out and want to get away.


So again I’m really optimistic that soon everything will be back to normal or even better!

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