Prague, the enchanting capital of the Czech Republic, has emerged as a beacon of growth in the meetings industry, mirroring global trends in the post-pandemic era. A surge in international events and the influx of affluent visitors have propelled Prague to the sixth position globally among the most coveted meeting destinations, leaving behind renowned metropolises like Madrid, Seoul, and London.
Despite the advancements, Prague remains slightly below the record-breaking heights of 2019. Nevertheless, the city’s meetings sector continues to ascend, exhibiting a remarkable year-over-year increase of 25% in the number of meetings and a 12% surge in delegate attendance. The average length of events has also increased, with a growing number of conferences spanning four or more days.
Prague’s tourism strategy, which prioritizes high-net-worth individuals, has played a pivotal role in this resurgence. These delegates not only alleviate strain during peak tourist seasons but also contribute significantly to the local economy, spending up to three times more than average tourists.
The resurgence of international expert events has drawn a discerning clientele to Prague. International meetings and conferences now account for nearly half of all events held in the city, with the United States reclaiming its position as the top source country. Discourses on medical sciences, economics, finance, business, IT, and technology continue to be the prominent themes attracting delegates to Prague.
Prague’s success is not limited to the global stage; it also reigns supreme within the Czech Republic, hosting over a third of all events in 2023. The city faces stiff competition from Singapore on the global stage, which has ascended to the second position in the ICCA rankings. This highlights the increasing prominence of Asian destinations in the global tourism and meetings industries.
Despite these challenges, Prague remains committed to developing and investing in the meetings industry. The focus on association conferences, supported by incentives from the City of Prague, has been instrumental in Prague’s success. However, there is also a need to tap into the segment of corporate conferences and incentive events, which offer high spending rates and align with the city’s goal of attracting affluent visitors.
The future of Prague’s meetings industry appears promising. The revival of the sector, evident not only in Prague but globally, is expected to continue in 2024. Expert projections anticipate that the congress industry will surpass 2019 figures by 37% in terms of delegate numbers and 1% in terms of events. Prague, with its rich history, vibrant culture, and commitment to excellence, is poised to maintain its position as a leading international meeting destination.
