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State of the Industry – When will the Events Industry Recover?

19 Mar 20212m read

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.

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