Public spending cuts greatest threat to events growth, reveals industry survey

Public spending cuts are the greatest threat to growth in the events market in the coming year, say industry figures, as the government prepares to unveil its spending review.

Public spending cuts biggest threat to events
Public spending cuts biggest threat to events

Following COI's announcement it will slash 287 jobs in the department this year, 38% of events professionals responding to a C&IT online poll said public spending cuts were the biggest challenge to the industry.

The results come as COI has revealed it will make 40% of its staff redundant on 1 November. All 737 staff - including its 16-strong events division headed by Simon Hughes - are at risk of redundancy.

Motivcom divisional managing director Nigel Cooper said: "The government's austerity programme has an impact on confidence because, while you might not deal with the public sector at all, your clients may do."

TRO managing director Keith O'Loughlin said the agency's previous seven-figure government billings gave it first hand experience of the issues.

"The changes to public sector activity will have ramifications for the industry, along with the need for justification of budgets through ROI," he said.

Eventia chairman Mark Saxby added: "Live events are one of the most effective communication mediums. We must hope the government bears this in mind when seeking to cut expenditure and take considerable resource out of organisations such as the COI, with a knock-on effect in terms of jobs among all those in the supply chain."

Meanwhile, 30% believed proving ROI would be the biggest test of the coming year.

In figures

287 - Number of jobs that will be axed at COI

90 - Days of redundancy consultation for COI events staff

38% believe public spending cuts are the biggest challenge to the events industry (C&IT online poll)

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
Why venue choice is crucial for a creative event

Why venue choice is crucial for a creative event

Cultural locations can give a conference an extra infusion of creativity says Southbank Centre's Ali Gannagé-Stewart.

Typhoon in Tokyo: An event planner's experience

Typhoon in Tokyo: An event planner's experience

The arrival of Typhoon Hagibis after a week-long event in Japan required serious crisis planning by TAG's UK director of events.

Freeman appoints new executive producer

Freeman appoints new executive producer

The brand experience agency continues to expand its EMEA production team in London.

What's new at IBTM World 2019

What's new at IBTM World 2019

David Thompson, event director for IBTM World, talks about what's being planned this year in Barcelona.

Experience12 hires new account manager

Experience12 hires new account manager

Holly Carters joins from MediaCom where she worked with clients including Coca-Cola and Peugeot.

My Dream Event: no phones, Disney raps and Not Giving a F*ck

My Dream Event: no phones, Disney raps and Not Giving a F*ck

Hannah Spurdle, account manager at GOTO Events, would have her guests celebrating until the early hours.

What made Belfast the Best Events Destination of 2019?

What made Belfast the Best Events Destination of 2019?

Visit Belfast took home a C&IT Award in a year full of accolades, development and economic growth.

ICC Sydney: More Than a Venue

BCD M&E acquires L37 Creative

BCD M&E acquires L37 Creative

Acquisition of Chicago-based event production agency will strengthen BCD M&E's US capabilities.

England Rugby's head coach reveals how long meetings should actually be

England Rugby's head coach reveals how long meetings should actually be

Eddie Jones explains why shorter meetings with clear messages are a winning formula in sport and business.

LATEST JOBS