A study released yesterday by the Association of Destination Management Executives International, headquartered in Dayton, Ohio, shows that member DMCs are optimistic about business through the end of 2015 and into 2016.
Almost 60 percent of DMCs that belong to ADMEI report a stronger 2015 third quarter compared with third quarter 2014. Some 77 percent report their 3Q 2015 was as good as or better than their 3Q 2014. This continues the trend of increasing business that member DMCs are experiencing all over the globe. Some 89 percent project that 4Q15 will be as good as or better than 4Q14.
Projections for 2016 are equally positive. A total of 80 percent predict that 2016 will be as good as or better than 2015 for their businesses, and 85 percent project that 2Q15 will be better than 2Q14. For the past three years, 75 percent of member DMCs reported that they were experiencing a better year than the year prior.
LEAD TIMES INCREASING Only 20 percent of ADMEI members report that the time interval between RFP and event is decreasing, a 100 percent improvement compared with 2Q15 and 200 percent improvement compared with 3Q14.
More than 35 percent of members report an improvement in the time between RFP and event, even if it is not very much. But, 32 percent of the DMC members report no change in the lead time.
LOOKING FOR A FEW GOOD PEOPLE With the increase in business comes the demand for more staff.
DMCs report that it is hard to find candidates, let alone with the right skill set. The following skills were ranked as important by more than 50 percent of the respondents:
- Ability to write and communicate with effectiveness and good grammar
- Ability to organize their work, with a focus on self-starters
- Ability to multi-task
By far, the best source of candidates was networking with current vendors and clients, with 65 percent of ADMEI members citing it as the method that generates the best set of candidates.
SURVEY SOURCES ADMEI member DMCs are located on five continents, with members in Africa, Asia, Europe, North America and South America. Almost a quarter of all member DMCs are located outside of the United States. Survey participants represent 43 percent of ADMEI’s global membership.
The mission of ADMEI is to define the DMC industry, uphold the highest level of professionalism, establish standard business and ethical practices and promote the value of local destination management.