New research from Accor Hotels has found that face-to-face meetings can increase revenue by up to 36 per cent.
The study, which gathered insights from 9000 professionals worldwide, further found that 85 per cent of respondents expect prioritising in-person meetings would significantly boost their revenue.
The study underscores a key takeaway: while digital tools like video and phone conferencing are useful, the human connection fostered by in-person interactions is perceived as significantly more effective in driving business success and performance.
One survey respondent said: “Business professionals expect to close 37 per cent more deals if they were able to conduct all their important meetings face-to-face.”
Understanding in-person meetings are an investment, 35 per cent of professionals globally agreed meeting in person is worth the investment in both time and costs. Additional findings were that 92 per cent of professionals agreed in-person meetings were important with external clients, and 85 per cent of workers agreeing face-to-face interaction is important with internal colleagues.
Respondents believe that one in-person meeting has the same impact as three virtual meetings.
Approximately 41 per cent of survey respondents agree that face-to-face interactions are more effective for business, particularly when it comes to sales, closing deals, and overall business success. Nearly 40 per cent emphasise the importance of in-person meetings for their work, with 38 per cent noting that the investment in time and costs is worthwhile. Furthermore, 37 per cent believe in-person meetings are key to fostering company culture, while 35 per cent report higher attendee engagement during these interactions. However, 33 per cent acknowledge that virtual meetings make it more difficult to build personal relationships, underscoring the value of physical presence in the professional world.
The study also recorded findings on the value of business travel, with 34 per cent of professionals polled globally stating that closing a deal is their main reason to travel, closely followed by client and contract negotiations.
Events and trade shows remain a key priority, with 30 per cent of professionals saying it’s a primary reason to travel for business. Building and designing business strategy remains vital, the 5th most significant reason to travel for business, a priority for 20 per cent of professionals.
Looking ahead, the research suggests that hybrid business models—combining both digital and in-person meetings – are now the norm. As businesses continue to rely on digital solutions, the human touch provided by face-to-face meetings will remain an irreplaceable aspect of closing deals and fostering strong business relationships.
While digital tools offer convenience and global connectivity, they cannot fully replicate the effectiveness of personal interactions.
Accor chief sales officer Sophie Hulgard said the potential 36 per cent revenue gain from meeting face-to-face could be worth billions to the global economy.
“People need to connect, and while technology brings us together from around the world, it doesn’t replace the connection, culture and commercial value that comes from in-person interactions,” she said.
“Digital is powerful, but face-to-face is valuable.”