Event venues and conference centres should see an increase in business over the next year, according to a new survey that reveals the mood among the corporate events management community has dramatically improved.
A survey by industry magazine Special Events has revealed that 18% of respondents to its ninth Corporate Event Marketplace study said that they expected to stage more events in 2010 than they did last year. 35% also predicted that 2011 would see even more work for venues for hire, a huge improvement on the 2009 study when some 35% said they expected to stage far fewer events in 2009 than in 2008.
This positive attitude has also been matched to expectations on how budgets will be invested in special events. Nearly a third of respondents believe that their company’s budget for such events will remain the same in 2011 as in 2010, whilst 41% said that their company is likely to allocate more money to special events in 2011. Only 19% said they expected that location hiring would get less budget funds in the coming year.
According to respondents, there has been an increase in the number of event managers who attempt to measure the ROI on their special events. In 2002, when the survey started, only 28% said they attempted to measure the ROI of events. This year 57% said they would attempt to measure ROI, the highest in the surveys history.