C&IT surveyed and interviewed almost 200 UK-based event agencies and corporate planners about their event activity in 2015-16, general trends, challenges and future outlook.
When asked if they expect to report growth in profit in 2016, 91% of agencies said yes, up from 81% last year, though many admitted that growth would be modest.
The majority of agencies are also expanding headcount this year, with 83% expecting to take on new staff, more or less on par with 84% last year.
The EU referendum is currently a major concern for agencies, with a fifth (20%) describing a potential Brexit as the biggest challenge facing the wider events industry. Meanwhile, 28% of agencies cited that talent remains the top challenge facing their business in 2016.
For clients, budget remains the top issue for the eighth consecutive year, with 30% describing it as their biggest internal barrier to organising events, and 39% describing it as their greatest overall challenge in 2016.
Delivering more for less is a dominant theme of this year’s report, with clients and agencies under increasing pressure to deliver bigger, better, cheaper and faster events, for the same or less budget.
Visit C&IT's online State of the Industry hub for more in-depth analysis and features over the next month including Top 20 Agencies ranked by turnover, client spend and profit; Destination Update: What’s on and off the pitch list?; Top 5 Corporate Challenges; and Procurement: from Villain to Hero?
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