11/15/2024
In today’s rapidly evolving business environment, where digital interactions dominate, the intrinsic value of face-to-face meetings cannot be understated. Business and the meetings & events sector is all about one thing: people. New research by Accor confirms that in-person interactions remain more than ever incredibly important, offering the potential to substantially enhance revenue and close high-value deals — transforming what was once a business staple into a powerful competitive edge in today’s evolving marketplace.
Accor’s latest global research, which gathered insights from 9,000 professionals around the world, reveals a powerful insight: professionals across diverse sectors believe their revenue potential could soar by 36% if all important meetings were conducted in person. This finding underscores the enduring value of human connection in building trust, fostering collaboration, and driving results.
The potential 36% revenue gain from meeting face-to-face will be worth billions to the global economy. People need to connect, and while technology brings us together from around the world, it doesn’t replace the connection, culture and commercial value that comes from in-person interactions. Digital is powerful, but face-to-face is valuable.
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+36% revenue increase from in-person meetings
The Accor study reveals a strong belief among professionals in the power of face-to-face meetings to drive revenue growth, with an average projected increase of 36%. This powerful insight underscores the concrete business value of in-person interactions, signaling to companies that a strategic focus on human connection may be key to unlocking new levels of commercial success.
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Meeting in person is worth the investment in both time and costs
The study shows compelling data in favor of in-person business and strong preference for in-person meetings across various business functions, with many professionals believing they offer greater impact and value than virtual alternatives.
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1 in-person meeting = 3 virtual meetings
Respondents believe that one in-person meeting has the same impact as three virtual meetings.
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The primary driver of business travel is commercial
Global professionals overwhelmingly prefer in-person interactions for key business activities, underscoring the continued value of face-to-face engagement in critical situations. These findings emphasize that, despite the rise of virtual alternatives, professionals still recognize the unique benefits of face-to-face meetings in fostering strong business relationships and commercial value.
Looking Forward: A Bright Future for In-Person Business and Meetings
In a world that increasingly embraces digital transformation, the value of face-to-face communication and connection has never been more evident. Accor’s findings show that business professionals recognize the importance of human interaction in achieving impactful results. Changes to our ways of living and working over the last few years have made online meetings one of the primary methods of business communication, however the world continues to adapt, and we are now seeing business professionals embracing a “phygital” strategy for meetings, seeking the right balance between digital meetings and impactful real-world ones.
Business is about people. Whether you are driving culture or commercial priorities, people are central to business strategy. Our study reveals that businesses stand to benefit greatly from prioritizing in-person meetings, particularly for important negotiations and client engagements. As the world adapts to a new business as usual, companies that find the right balance between virtual and face-to-face interactions are likely to see stronger results, both in terms of deal closures and revenue growth.
The global business landscape is undergoing a profound transformation, from the growing focus on sustainability to seeking experience-led meetings, among other shifts. These changes create opportunities in the Meetings & Events sector as well as in business travel more widely. Accor is more than ready, not only meeting expectations but anticipating them, designing the services and solutions best adapted to every need and shaping new ways to create connections.