Event budgets will increase

Spending on corporate venues and business events in general will increase over the next year, according to the latest industry research.

The British Meetings & Events Industry Survey (BMEIS) found that there will be a net increase in events budgets over the coming 12 months. As reported by Meetpie, the survey questioned over 600 leading event organisers. It found that 18% of those interviewed said they expected to see an increase in event budgets.

“This is clearly positive news,” said Sally Greenhill, from a conference venue. “Although not a massive increase, it will be very welcome news for suppliers after a couple of very difficult and uncertain years.”

The news is supported by last month’s revelations that companies are beginning to send more staff to trade shows and conferences, with corporate sponsorship also returning. As reported by Reuters, the news from Informa and Daily Mail & General Trust, concerns worldwide events held by the media groups. It’s manifested in an increase of around 9% for bookings in 2011.

As reported by Travel Daily News, last year there was a 1.9% reduction in event budgets. Sally Greenhill commented: “This first ever BMEIS has confirmed some of the industry’s fears over reductions in budgets, but it has also shown that there is optimism in some quarters… For venues, destinations and suppliers, the research provides invaluable insight into what buyers are looking for in these difficult economic times.”