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

Maintaining two-metre rule when returning to work will be 'impossible'

Maintaining two-metre rule when returning to work will be 'impossible'

Guidance from health and safety body advises employers to assess risks to wellbeing as well as virus transmission when bringing employees back.

Nearly two thirds of event planners expect live events to return this year

Nearly two thirds of event planners expect live events to return this year

Most event companies will be running just a quarter of events planned for 2020, finds research by Global DMC Partners.

LIVE UPDATES: UK could have 'air bridges' by end of June

LIVE UPDATES: UK could have 'air bridges' by end of June

Find out which countries are on partial or national lockdown, what travel restrictions are in place and what size gatherings are allowed.

Freeman APAC appoints new head of creative services

Freeman APAC appoints new head of creative services

The award-winning creative will lead the agency’s experiential campaigns for the Asia Pacific region.

5 bad leadership habits to avoid when managing a team remotely

5 bad leadership habits to avoid when managing a team remotely

Don't let certain behaviours slip into your leadership style unchecked, says CEO of Authentic Change Solutions.

How to take your events outdoors

How to take your events outdoors

MD of Gazeboshop explains how to make the most of outdoor facilities and comply with social distancing.

How coronavirus will affect financing in the hospitality sector

How coronavirus will affect financing in the hospitality sector

The best course of action for any borrower is to find out what flexibility there is, says legal expert James Stripe.

RSVP podcast Ep1: Accidental nudity, selfish people and lullabies from Adele

RSVP podcast Ep1: Accidental nudity, selfish people and lullabies from Adele

Guests reveal their best experiences and react to anonymous industry confessions in our first-ever podcast for event and travel professionals.

Why Copenhagen is the perfect destination post-pandemic

Denmark's capital is walkable, clean, sustainable – and most importantly, happy

Can biosecurity teams save events?

Can biosecurity teams save events?

The industry will need a range of biosecurity measures if physical events are to return soon, says Smyle's Matt Holliday.