Positive economic trends and the global expansion of companies will drive continued growth for the meetings industry in 2016, according to the American Express Meetings & Events 2016 Global Meetings Forecast.
All regions will experience high growth as companies continue to bring their employees together for face-to-face meetings.
Meeting owners are predicted to expand their budgets next year. In turn, hotels are expected to increase capacity in key cities, but lead times remain tight.
The 2016 Forecast also provides a look at three key areas of interest among meetings professionals: compliance, incentives and using mobile and social media for events, all of which are expected to continue to shape the meetings industry in 2016.
"It's pleasing to see a positive outlook in relation to Asia Pacific meetings spending and activity, particularly compared with last year when sentiment was a lot more cautious", said Belinda Doery, regional director, American Express Meetings & Events, APAC.
"As the Asia Pacific meetings and events sector matures, we are noticing that companies have improved visibility over their meetings spending, which in turn contributes to more accurate forecasts of their activity for the next year."
Meetings activity in Asia Pacific is predicted to experience growth next year, In Asia Pacific, Singapore remains the number one meeting destination, while Shanghai, China and Hong Kong/Macau traded places. Beijing has climbed onto the list to the number four ranking, causing Sydney to rank one position lower and Bali to slip out of the top five.