Meeting Planners Agree That Cost Is The Top Priority In Destination Selection

Many companies have been hit by the recession and are looking for ways to cut costs

. In some cases, businesses have even considered doing away with incentive travel programs and opting for meetings and corporate events that are close to home in an effort to save money. Unfortunately, companies that are cutting incentive travel programs often do not recognize that this morale boosting tool is actually much more cost-effective than salary increases and bonuses, and is sure to leave a lasting impression on participants that will foster increased productivity and employee satisfaction. Rather than cut these programs, businesses should take a look at incentive travel options that offer significant cost savings.

At the same time, companies that are focused on staying close to home for meetings and corporate events may be overlooking another option that is far more enticing and offers a cost-effective option that will allow them to save money and stay within their budget without giving off the impression that their company needs to cut costs, which can lead to the perception that the company is not doing well.

Over half (56%) of corporate meeting planners and event planners agree that the most important factor when selecting a venue is the cost. This single factor has become even more important in recent years as companies face budgetary challenges brought on by the ongoing economic crisis. When cost is the number one factor in venue selection, it creates a situation where choice venues and destinations are often bypassed in order to opt for less expensive options.

This sometimes works out well and the corporate meeting or event is a huge success, regardless of location; however, this is not always the case. When planners must place cost above all other factors, it is much more likely that a less-than-ideal location may be chosen and the venue selected may not offer the same amenities, facilities and prestige as more desirable options.

When cost is a factor, a much better option is choosing to hold the event or meeting on a cruise ship. Cruise ships are the perfect choice for companies that need to save money but do not want to lose quality or mar their reputation. Opting for all-inclusive cruise events can result in cost savings of up to 40% over land-based events, with the quoted price including meeting facilities, accommodations, most food and drink, meeting equipment and other necessities.

Cruise ship events also continue to hold a high status, even when costing far less than other options, making them an ideal option for companies concerned about the cost of the venue for their next meeting or event.

by: Leslie Perez.

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