The MIA has recently published research aimed at addressing just this question, see Here for details. In summary:

• Compared to Pre Covid levels planners are forecasting event budgets to be down 32% this year and 12.5% next
• Average lead times have jumped from 5 moths to 11 months.
• Event planners have seen a reduction of on average 66% in event number since the pandemic and Agents a reduction of 85%
• 71% of event planners are not planning any events at the moment, the figure is 79% for agents.
  • The reasons for this reluctance to book is:
  • Uncertain of future restrictions (93%)
  • Covid concerns impacting numbers (71%)
  • Covid restrictions impacting the event (63%)
  • Financial Risk (44%)
• In terms of what measures will help overcome these fears
  • Vaccination of the entire populate (86%)
  • Removal of capacity restrictions (68%)
  • Removal of social distancing restrictions (68%)
  • A government roadmap for the sector (63%)

Thank you to the MIA and all their partners.