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
8 activities in... Mauritius

8 activities in... Mauritius

Home to white sands, rum punch, high-octane water sports and natural wonders.

Government offers £250,000 to boost broadband in conference venues

Government offers £250,000 to boost broadband in conference venues

Conference centres across the UK can apply for new funding to improve broadband and attract more international business.

Why influencers are a big part of Las Vegas' MICE strategy

Why influencers are a big part of Las Vegas' MICE strategy

Las Vegas Convention and Visitors Authority's new MICE manager discusses influencers and why hotels within hotels are the latest trend.

In pictures: Hilton Garden Inn opens in Lithuania

In pictures: Hilton Garden Inn opens in Lithuania

The Hilton Garden Inn Vilnius City Centre has events facilities and a rooftop terrace and is the brand's first property in the country.

48 hours in Zagreb

48 hours in Zagreb

A two-day incentive itinerary in the capital of Croatia, from Esplanade Zagreb Hotel to a culinary workshop at Dolac Market.

Brand experience trends from around the world

Brand experience trends from around the world

From borderless marketing campaigns to hyper-personalisation, INVNT's leadership team share their insights.

3 ways event planners can find that creative spark

3 ways event planners can find that creative spark

Artist Phil Hansen, MPI keynote at IMEX America, explains how embracing your limitations can inspire new kinds of creativity.

Case study: KFC's RGM Fest

Case study: KFC's RGM Fest

The fast food giant worked with ITG to give its annual event for general managers a festival theme.

First pictures: Guitar Hotel set to open in Florida

First pictures: Guitar Hotel set to open in Florida

The $1.5 billion expansion of Seminole Hard Rock Hotel & Casino Hollywood opens in October with a 'lagoon' and overwater cabanas.

Experts debate whether agencies should charge for pitching

Experts debate whether agencies should charge for pitching

GOTO Events, DRPG, First Event and Clive discussed pitching strategies and the costs involved in big proposals.

LATEST JOBS