Home > Asia > Brunei > Zaire
Related topics: Zaire,ANALYSIS, Europe, Research, Research & Education
July 14, 2009

Eventia survey shows impact of recession on venues

The UK events market experienced a £800,000 drop in revenue between 2006 and 2008 in terms of direct revenue to venues, with an estimated value of £7.2 billion, compared with £8 billion in the three-year period 2005 to 2007, according to the 2009 UK Events Market Trends Survey (UKEMTS).

Published recently by Eventia, the annual study is based on data supplied by a record number of 512 reporting venues from across the UK (compared with 446 in 2008). They represent almost 15% of the UK’s business events venues.
UKEMTS attributes the drop in revenue to venues to a fall in the average number of events per venue (375 in 2006/8 compared with 396 in 2005/7) and fewer residential events. The latter factor has had a a significant economic impact, since residential events and conferences account for almost 60% of overall venue income from events. Even so, the research confirms the vital importance and scope of the events sector to the UK economy.
Other key findings…
There were an estimated 67 million attendances at events in 2008 (an estimated 1.31 million events with an average attendance of 51 people).

There has been a general tightening of budgets and a more price-sensitive market manifested in: more negotiation on rates; shopping around by event organisers seeking better value for money; reduced spend on catering and even, in some cases, timing events to exclude meals.

Lead times
A further shortening of lead times for events has taken place, plus a longer wait for confirmations and increased cancellations.

Venue investment
A sizeable proportion of venues (44%) have postponed product investments and refurbishments originally planned for 2009, but a third were still planning to invest in excess of £100,000 and 9% will be spending more than £1 million. University and academic venues, in particular, anticipate substantial product investment in 2009.

City domination
The huge investments in infrastructure and facilities enjoyed by most city destinations over the past couple of decades are reaping benefits in the business events market. City venues hosted on average 447 events a year, well above the overall average. By comparison, venues located in rural areas staged on average 250 events a year.

Required reading
“UKEMTS is a crucial barometer of what’s happening in the events sector and should be required reading for anyone who needs an informed view of the trends and changes in our sector,” said Eventia chief executive Izania Downie. “Eventia is actively developing its contribution to industry research, and we shall be complementing this vital supply-side research with leading-edge buyer research later this year.”
Tony Rogers, who project-managed the UKEMTS research on behalf of Eventia, acknowledged the wide-ranging support from venues, destinations, other trade bodies and industry media who had contributed to the record response achieved.

“We are delighted with the support we received in compiling the data – it’s a tangible demonstration of the industry working together for the benefit of all,” he said. “I would also like to thank TEAM Tourism Consulting for their invaluable work in interpreting UKEMTS data and writing the Survey report.”
Key goals
The annual UKEMTS survey, conducted across convention bureaus and venues in the UK, aims to measure the key characteristics of the UK events and conference market from a venue perspective and then provide the best possible estimates for volume and value aspects of the market.

Specifically it provides detailed data on the volume of events, along with their duration. It also provides information about delegate rates, levels of residential business, source of events (companies, associations, public sector bodies) and whether they are local/regional, national or international. It also contains data on event size and the value of event activity, as well as venue expectations for future market developments, plus feedback on trends in event organiser requirements.
For information about ordering a copy of the UK Events Market Trends Survey 2009, visit: www.eventia.org.uk

What do you think of this $type?





   IT&CM China  Caribbean Meeting Incentive Travel Exchange      Gulf Incentive, Business Travel & Meetings Exhibition EIBTM IBTM IMEX America  IT&CMA IT&CM China IT&CM India Conventa BTC convene  cventMBTMMA 2013 COCAL 

GLOBAL AGENCY PARTNERS                                                                                           OFFICIAL TRADE SHOW PARTNER FOR THE UK MEETINGS MARKET 

MCI Ovation Euromic