Events industry to recover within a year?

10th September 2009

The events sector will recover within the next year, although the slashing of budgets remains a concern for businesses, according to new research.

Conference and Incentive Travel magazine conducted a poll of corporate and agency buyers at its eponymous event and found that almost half expect business to pick up over the next 12 months, while eight per cent anticipated recovery in the coming six months.

Half of delegates at the event held at the Queen Elizabeth II Conference Centre in London said providing value was the biggest challenge for the sector.

Meanwhile, just over a third said event organisers needed to guarantee the merit of a convention for the consumer.

In addition, eight per cent said slashing budgets was a concern for businesses.

Eventia's recent UK Events Market Trends Survey found that conference organisers sought better value for money last year, shopping around for the best deal.

The poll of 512 venues across the UK found that direct revenues from conferences and events stood at an estimated £7.2 billion between 2006 and 2008, down from the £8 billion from 2005-07