Events association MIA’s quarterly benchmarking report has revealed that just 6% of those surveyed feel that the business events sector is supported by the government, albeit almost three quarters (74%) of are confident in the future growth and sustainability of the sector – a slight increase on sentiment reported in June.
The report showed an average event budget has risen by nearly £7,000 to a reported £34,534 per event. Respondents are also witnessing an increase in a rise in overseas enquiries, suggesting a greater appetite for business meetings and events travel – a positive outlook considering international delegates spend more, stay longer, and support the UK economy.
Highlights in the report include:
- Just 6% feel that the business meetings and events sector is supported by UK government. Similarly, less than a third (27%) believe that new government policies will positively impact their business.
- Elsewhere, under a third (31%) of respondents feel that the upcoming changes to employment legislation will be beneficial for the sector. Notable concerns raised include the proposed changes to zero-hour contracts, which respondents believe will increase the risk of taking on new members of staff while also challenging their levels of flexibility.
- As organisations address depleted talent pools head-on, working with what is available and accessible to them, over two-thirds (69%) have found that upskilling existing staff is helping to mitigate staffing shortages within the sector. More than half (58%) feel they now have effective training programmes in place to develop their workforce, with most (79%) utilising external training resources to facilitate this.
MIA chief executive, Kerrin MacPhie (pictured), said: “While confidence in the sector’s growth is bolstered by rising event budgets and increased enquiries from overseas, there remains a clear call for greater government support. This includes no-cost advocacy support, addressing ongoing recruitment challenges and tackling staff shortages that have long been well-documented.
“Despite the demands of incoming Employment Law changes, which further reinforce these challenges, the sector’s ability to adapt and evolve, along with its commitment to up-skilling the workforce, provide optimism that it will continue to navigate these issues.”
The November 2024 MIA Insights can be downloaded here: https://mia-uk.org/Insight-Surveys
