Deals worth £1,425 million were struck at last year’s World Travel Market, up by a quarter on 2009’s event, according to a new study.
Independent research of exhibitors and Meridian Club members shows that last year’s exhibition will generate £1,424,844 million-worth of deals, either through contracts signed at the event or from negotiations which will lead to deals before this year’s WTM in November.
WTM 2009 generated £1,139 million in business deals, either on the exhibition floor or in the following 12 months.
The increase in business is in part being attributed to an expanded ‘speed networking’ session on the first day of the show which gave exhibitors and Meridian Club members the remaining three days to continue negotiations and agree deals.
The scale of deals conducted at WTM led to 96% of exhibitors stating WTM was important to their business. Exhibitor satisfaction rose to 94% with 66% either completely or very satisfied, compared to 59% in 2009. Visitor satisfaction of WTM stood at 93%.
More than seven out of ten exhibitors (71%) said WTM was the best or better than most events compared to 67% in 2009 and 65% in 2008.
Additionally, 96% of exhibitors were extremely or very likely to exhibit at WTM 2011 with 98% of visitors extremely or very likely to attend this year’s event, which takes place on November 7-10. The results come from a poll of 449 exhibitors and 1,356 visitors to the show.
Exhibition director Simon Press said: “World Travel Market 2010 has seen, and will lead to, a phenomenal amount of travel and tourism industry business being agreed.
“The expanded speed networking programme played an important role in the success of WTM for both exhibitors and Meridian Club members, offering both stakeholders increased opportunities to meet new contacts and sign contracts.
“The amount of business conducted and the findings from the exhibitor and visitor research shows WTM is delivering on its commitment to facilitate business in the travel and tourism industry.”