For Trade Press: how the economy affects F&B trends in Meetings and Conventions industry - Assignment Example

F&B trends had noted successful stories in terms of how they quickly respond on the demand and request of customers. They are also prominent with regard to the issue of meeting budget limit. It is undeniable that the global economy is still unstable thus consequently contributed dramatic changes. Despite of the tough times, it is good to know that the meetings and conventions industry “still remains an important contributor to local and regional destinations” (Russell, 2007). It is a fact that despite of the presence of economic devastation, F&B remains to be a significant element on the success of a certain event.

The quality of food and drink that is being served by the industry is one of the effective tools to definitely make attendees remember such event. During the period of great prosperity or rapid economic growth, almost all individuals are longing and looking for the hottest cuisine and so planners of every event would make sure that the served F&B is unique and exotic (Vatner, 2010). Paying a premium would not matter as long as the attendees are being served in the most memorable way. However, the booming times are not consistent because when recession comes in people are becoming cautious in spending.

The unstable economic condition had a significant effect on the presentation of F&B during the event that will certainly make the attendees feel that they are stuck in a venue of no satisfaction (Kim, Lee, & Love, 2009). During tough times, money is becoming tight in a sense that the “budget for F&B is one of the first to be cut” (Vatner, 2010). Therefore, instead that the planners will look for the hottest cuisine to be served during the event, it is now looking for the cheapest cuisine just to fit the budget line.

F&B trends in meetings and conventions industry is now observing cost-cutting tips. According to Vatner (2010), “besides budget-slashing, the catering world is making