How can savvy planners take advantage of currency fluctuations and still deliver memorable meeting and incentive events?
With a little planning you can include Europe or any International destination while keeping your budget in line.
Here are some ideas to consider: (from my dear friend John Udell)
• Use "shoulder" and "green season" dates rather than traditional meeting and incentive dates.
• Focus on less expensive locations based on current currency trends - today it makes more sense to enjoy Greece, Norway, South America, some places in the Orient rather than higher priced areas like Western Europe, the Caribbean, and Dubai.
• Utilize a region's national holiday as a program event; many hotels that focus on commercial customers will have low occupancy and are willing to reduce pricing. (But realize that some venues may be closed for the holiday as well)
• Include more free time to explore the destination on an individual basis rather than designing a fully loaded daily program.
• Offer a cash allowance for some meals or activities in lieu of a structured event.
• Purchase currency futures to lock in pricing on major budget items.
• Review the VAT rebate program --- many international companies are able to recoup the VAT for some program features. (But realize this is a slow process and not always easy to recoup your funds -- never budget using this refund)
• Buy value over price; purchasing a Five-Star hotel at a discount might be perceived as a better program feature to a traveler than a deeply discounted Three-Star property.
Mailing Address: P.O. Box 702562 l Dallas, TX 75370 l Office: 1-972-417-7232 l Cell/Text: 1-214-906-7232 l Facsimile: 1-972-418-9486
Copyright © 2014 GlobalGoals. All Rights Reserved. This website, its contents and copy in its entirety, is the exclusive property of GlobalGoals and may not be reproduced, modified and/or copied without prior written authorization. Website design by PattyStern.Com