Event spend rises despite Brexit, says Bellwether

Growth in event spend was up by a net balance of +9.9% in quarter three 2016, according to The IPA Bellwether Report released today (12 October).

Budgets for live events continue to rise
Budgets for live events continue to rise

Though it represents a slight fall in growth from the +13.4% recorded in the second quarter of 2016, the sector is still seeing significant expansion, despite fears that the Brexit vote may cause a slowdown.

Events marketing remained a popular area for companies, with growth registered in the category for the 12th successive quarter. Around 24% of the survey panel registered a rise in events marketing, compared to just 14% recording a decline. The net balance of +9.9% was the second highest figure recorded in four years of data collection.

Paul Smith, senior economist at IHS Markit and author of the Bellwether Report, said the results were positve, despite political concerns.  "Given the widely held view of a challenging economic climate following the Brexit vote in late June, the latest Bellwether survey provides some welcome positive news with companies willing to raise and inject fresh resources into their marketing budgets during the third quarter."

However, he added that the outlook remained uncertain, until we understood the full impact of the EU referendum vote.

Patrick Reid, CEO EMEA of Imagination, said that events were flourishing as companies look for experiences that are meaningful, rewarding and measurable. "The sustained recognition of the value of experiences reflects an increasingly significant shift in approach from brand marketers to achieve the engagement they are seeking. With the opportunities smart technology and social media offer us in blending the physical and digital manifestation of these experiences, we see this trend continuing."

More from Bellwether:

Event budgets grow 5.7%, says Bellwether report

Event budgets on the rise, says IPA Bellwether Report

UK meetings industry 'worth £21.6bn'

• For more news, in-depth features and case studiessign up to C&IT Magazine's daily Newstracker here

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
The future of event feedback

The future of event feedback

A look at how new technology is changing the nature of feedback for event planners.

SevenEvents hires new project manager

SevenEvents hires new project manager

Jade Davies joins from Touch Associates and her new role will include developing client relationships.

Cievents VP talks US market trends, challenges and opportunities

Cievents VP talks US market trends, challenges and opportunities

Alison Howlett, vice president of live events, talks about creating business opportunities, US trends and popular destinations.

Case study: PPA Festival at Tobacco Dock

Case study: PPA Festival at Tobacco Dock

The Professional Publishers Association held an education festival in May 2018 with guest speakers including politicians and actors.

New director and event coordinator for Pure

New director and event coordinator for Pure

Agency promotes client services director and hires event coordinator to strengthen the team.

Loganair to take over cancelled Flybmi routes

Loganair to take over cancelled Flybmi routes

Glasgow-based company Loganair has stepped in start flying five of Flybmi's routes from next month.

How to increase your sustainability credentials

How to increase your sustainability credentials

Sustainability can be achieved with simple actions, says Elizabeth Thomas from the International Corporate Governance Network.

London venues hosted 37% more events in 2018

London venues hosted 37% more events in 2018

Year-on-year increase from Unique Venues of London shows strong demand for events in the capital.

Why you should design human-centric experiences

Why you should design human-centric experiences

At EMEC19 in The Hague, Kim Myhre of MCI Experience gave an insightful talk on design-thinking in events.

New event producer for HGA

New event producer for HGA

Becky Jones-Williams has previously worked at Event Concept and will work for clients in a range of sectors.

LATEST JOBS