Just under three quarters (74%) of respondents to C&IT's State of the Industry (SOTI): Corporate Report survey said that over the past year their events budget has either increased or stayed the same.
This figure is approximately the same as in last year’s SOTI: Corporate Report, despite the most recent IPA Bellwether Report finding that events marketing budgets went down for the first time since the third-quarter of 2018.
Among the corporate event planners who took our survey and said their events budgets had increased over the past year was Bob Postins, head of events Europe & Southern Africa at Amway Europe. He said the reason his company’s events budget had increased was "less availability of large-scale resorts in Europe outside of North Africa, Turkey, Egypt & Tunisia."
Jayne Scott, head of events at Nucleus Financial, said the events budget had increased because of "[greater] projected attendance at events" while Jessica Badminton, senior event manager at Quilter Financial Planning, echoed that sentiment. Badminton said her budget had increased for the straightforward reason of "increased attendee numbers at events."
Of those who said their events budget has decreased, AstraZeneca UK’s meetings lead & head of events Robert Quayle put it down to "company performance decreasing in the UK due to environmental challenges."
Emma Copping, UK event manager at St. James's Place Wealth Management said her company’s event budget had shrunk because of "pressure from the media," which suggests that when a company is having to deal with negative media coverage, spending big on events isn’t a priority.
Several respondents also said their budget had decreased as a result of overall cost cutting measures at their company.
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