Industry expects client budgets to be slashed

90% of C&IT Europe Future Forecasts Seminar delegates predict cuts

Client event budgets are expected to be slashed in 2009 according to almost 90% of attendees at C&IT Europe´s Future Forecasts Seminar at EIBTM in Barcelona today.
None of the agency and corporate buyers and suppliers in the audience said client budgets would increase in 2009, while the overwhelming majority –  88% – predicted a fall.
"Client budgets are definitely decreasing," said Spain-based Helms Briscoe meetings and events consultant Montserrat Joseph, who was a panellist at the session. "We are trying to stretch client budgets through negotiations with suppliers to achieve the most we possibly can with their budgets."
Other trends predicted for 2009 include a fall in overall business levels, with 50% of attendees foreseeing a drop, versus 36% who expect an increase.
Sixty-nine per cent predicted that the length of events will decrease in 2009, while 50% think there will be an increase in domestic events.
Meanwhile, 46% said they expected a decrease in business in the first quarter of 2009 compared with 2008.

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