Corporate venues in the UK have plenty of reasons to look to the future with confidence, as new research predicts a six per cent rise in meetings spend across Europe by the end of 2013.
A mid-year report on the market from event management firm Grass Roots claims that growth in this area will be linked to geography and market positions, with venues in Berlin, Paris and London all tipped to perform strongly this year.
Grass Roots based its study on the average day delegate rate (DDR) of each city, including price-per-person plus VAT and refreshments.
Meetpie.com says London strengthened its DDR to reach just under £70, while an average spend of £35 in the North West showed the North-South divide remains a key factor in the British market.
Looking to the months ahead, Grass Roots said European venues will see an increase in their lead times, while a greater demand for their services will result in less availability for key dates.
Report author and director of Grass Roots, Alan Newton told eventmagazine.co.uk: “There is room to be optimistic, but as ever performance is variable according to geography and the point in the market at which you are seeking to operate.
“At a unit level, reliability, flexibility and technical innovation are where the focus needs to be.”