The last twelve months have been interesting for the UK economy. Post the BREXIT referendum result exchange rates for sterling plummeted, growth rate predictions have been lowered, inflation has risen to its highest rate since 2012 yet the FTSE remains buoyant. These have all created challenges for the UK meetings industry. This year’s British Meetings and Events Industry Survey carried out by The Right Solution shows the volume of events is stable. However number of delegates is down and overall budgets and individual budgeted rates per person are under ever more pressure.
- average number of events per organiser was 32 for associations and 34 for corporates, both are lower than 2016 but shown an increase on 2015.
- average number of delegates at associations’ and corporates’ main annual events at 292 and 238 respectively is the lowest rate since 2010.
- numbers attending other events are also down considerably.
- Cost and budget factors are the most important factors affecting events for both associations and corporates currently with budgeted delegate rates down by 11% for associations and 9% for corporates.
- Annual budgets for associations reduced by 8.7% yet corporates saw a 1.4% increase.
- Predicted budget increases for the next twelve months are in line with inflation at 3.1% for associations and 2.8% for corporates.
Find out which destinations were most popular this year – which UK destination has risen highest up the rankings of most used for not for profit and corporate events? And which factors influence organisers’ venue and destination selection?
Which countries outside the UK are attracting most events?
For what percentage of their events do organisers use third party assistance ?
And refer to convention bureaus?
How important is ROI for events to organisers?
What is causing cancellations and how do organisers feel about working the events industry?
The most comprehensive market research project in the UK events industry. The British Meetings & Events Industry Survey is crammed full of latest facts and information to help you make the right decisions. The survey includes data from 340 top corporate and association event organisers.
BMEIS is commissioned by CAT Publications and carried out by The Right Solution.
Order your copy today from meetpie.com/BMEIS.