The impact of geopolitics, elections, and global conflicts on the meetings and events industry is complex and rarely linear. With the U.S. presidential election looming, political uncertainty has global meetings industry leaders on their toes.
Still, industry leaders are taking uncertainty in their stride. “Uncertainty is part of our world today. What hasn’t been uncertain over the last five or six years?” said Michael Dominguez, CEO of Associated Luxury Hotels International (ALHI), speaking at the 2024 edition of Skift Meetings Forum.
Senthil Gopinath, CEO of the International Congress and Convention Association (ICCA), joined Dominguez on stage to discuss geopolitics’ direct and indirect impact on the meetings industry. “Geopolitics is one of the key fundamental drivers of our industry,” said Gopinath, describing the meetings industry as a visible industry that is invisible.
Major armed conflicts of today in Ukraine and Palestine have clear, direct impacts on international travel. Nationalist and protectionist policies worldwide can also challenge international cooperation and hinder the meetings industry. “There’s a little bit of a danger for us that there’s a nationalist movement going around the world, and we already have an argument of over tourism in certain areas around the world, and I don’t think that benefits us long term,” said Dominguez.
Despite the challenges, inward-looking governments can positively impact the meetings industry by creating more regional and national meetings.
The Power of Meetings
Dominguez and Gopinath are proponents of the power of meetings. They see them as a tool for knowledge sharing and innovation. “Every great movement in our society, every great medical advancement, has come from bringing people together. It’s never come in a vacuum,” said Dominguez.
Dominguez goes further, making the case that meetings offer a cure for the polarization of society. “I think we are probably one of the the greatest medicines for ignorance and bigotry and racism around the world, because the more we get to interact with different cultures and different people, the more we understand the differences,” he said. Going further, he suggested that international trade shows are inclusive gatherings where “nobody is caring what part of the political aisle we’re on.”
Speaking the Language of Politics
Many industry organizations have focused on securing political support for meetings. IMEX’s Policy Forum in May used the slogan “Good meetings, not more meetings,” highlighting the need for meetings to be purposeful and objective.
However, Gopinath suggested that our approach to political support may be wrong. In meeting with 46 politicians around the globe over the last two years, he realized that discussing the value of meetings is not what those in power care most about.
”Every four years when we have a new politician, it’s more [about] their mindset, their vision, their plans,” said Gopinath. Mandates and election manifestos are top of mind and dictate future plans, “so they expect that our storytelling has to be on those lines.” Even when a minister gets re-elected, the story we tell about the meetings industry must be recreated. “It’s a new mandate altogether because they need to showcase to the local public what they are doing, but they have not done in the past. So we get pulled into that.”
The relationship between politics, economics, and the global meetings industry is not always apparent. Still, Dominguez and Gopinath encouraged meeting professionals to pay attention to geopolitics and be part of the conversation.