Results from the C&IT Corporate Survey 2008 show that the majority of client-side budgets have been frozen as the economic downturn hits the events sector.
The study - the most comprehensive yet - surveyed 100 corporate event planners. Asked whether budgets had increased, decreased or stayed the same in the past year, 59% said budgets had stayed the same in 2007/8, with 12% reporting that they had been reduced and 29% seeing an increase. This is a marked change from last year's results, when 40% of respondents had seen budgets rise, 49% remained unchanged and 11% decreased.
For the first time, this year's survey also questioned corporates on average budgets per head and monitored trends in agency use. Elsewhere, research into procurement, ROI and CSR continued. Full details are released in September's C&IT magazine, released later this week.