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April 16, 2015
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UK: Bellwether Report Says Event Spend Up 6 Percent

Event budgets have increased by 6 per cent according to the latest data from the Bellwether report by the Institute of Practitioners in Advertising (IPA).

The report, compiled for the IPA by Markit Economics, notes that event spend as part of marketing budgets was revised upwards by an average of 5.7 percent in the first quarter of 2015. More than a quarter of the businesses polled reported an upward revision of marketing budgets for the period, compared to 15 per cent who signalled a fall.

Figures from Q4 of 2014 revealed upward revisions had slowed, with an average increase of 2.4 per cent.

General confidence in the economy has led to growing optimism, with a net balance of 38 per cent of respondents revealing they had grown more optimistic about their own financial prospects.

The latest data marked the final quarterly reading for the 2014/15 budget year, and with upward revisions to budgets signalled throughout the period, overall growth for the year was the best recorded since 2004/05.

Read more at MeetPie.com...

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