Recently published statistics have revealed some good news for corporate events; London and other major cities can expect corporate hospitality events to grow by a quarter over the next four years.
According to the report ‘Green Shoots Forecast by Britain’s Live Events Sector’, there will also be a 30 per cent increase in the staff entertainment market.
Mark Saxby, chairman of Eventia, explained that whilst yesterday’s spending review delivered some bad news in terms of cuts to public expenditure, “it’s vital not to miss the important green shoots and positive indicators for our sector.”
However, to maximise the potential of these green shoots, the industry must do more to raise the profile of events and publicise their benefits. By showing how crucial they are for businesses, associations and governments to realise their objectives and achieve success, the industry can help drive the growth of corporate events.
Mr Saxby added: “Given pressures on budgets, ROI (return on investment) and ROO (return on objectives) are becoming ever more important. The fact that live and face-to-face events are increasingly being recognised as the most effective form of communication is a very positive factor, but there is still work to be done to get the message across to all stakeholders.”