Confidence in UK enterprise conferences and occasions is excessive, with 61% of companies forecasting larger income this yr based on the Conferences Trade Affiliation (MIA).
Surveying 140 occasion venues, suppliers, brokers and locations, the quarterly benchmarking report reveals that, on common, virtually half (41%) of forecasted income for 2025 is already confirmed.
Regardless of marking a ten% drop from final yr, there’s optimism amongst the sector {that a} regular move of enquiries will assist these income forecasts. This contains contributions from worldwide occasions, which at the moment account for a mean 12% of forecasted income in 2025.
Whereas companies concentrate on securing income, they proceed to grapple with recruitment challenges. Virtually half of respondents (48%) have discovered recruitment “considerably difficult” over the previous 12 months, with 18% describing it as “very difficult”. The largest limitations embrace elevated competitors for candidates, a scarcity of recruitment assets, and excessive workers turnover.
Reinforcing the significance of expertise retention, organisations have launched a spread of measures over the previous 12 months. This contains greater than half (53%) of respondents implementing improved work-life stability initiatives, whereas 38% have enhanced pay and advantages packages. This comes as the necessity for higher work-life stability challenges is recognised as the first motive workers go away, adopted by inadequate pay.
Different areas explored embrace On the spot Guide, which is at the moment being supplied by a 3rd (33%) of venues within the UK enterprise conferences and occasions sector. Elsewhere, insights on occasion contracts revealed {that a} quarter of respondents skilled important disputes within the final 12 months, as 6 in 10 (62%) spotlight the challenges of cancellation insurance policies.
MIA chief govt, Shonali Devereaux, stated: “Our newest findings spotlight a sector with confidence for the yr forward, as illustrated by rising income forecasts. Securing new enquiries whereas additionally recruiting and retaining expertise might be crucial to sustaining this, and we’re dedicated to offering the required assist all year long forward.
“Current analysis has made us aware of the alternatives and challenges dealing with the sector, and our newest findings focus particularly on the enablers and limitations of those. In taking this method, these insights will now be used to strengthen our member assets and wider assist technique for the yr forward, from sensible guides to our intensive programme of academic occasions and extra.”
The February 2025 MIA Insights will be downloaded right here: https://mia-uk.org/Perception-Surveys