According to venuedirectory.com’s latest reports, MICE sourcing volume through its platform is on track to exceed £332m of confirmed business in 2023 – which equates to a 4% increase year-on-year and 17% increase compared to pre-pandemic levels.
With more than 100,000 venues worldwide, venuedirectory.com hosts the largest MICE booking and venue database in the UK.
Jason Gutteridge, director of venuedirectory.com, commented: “We’re delighted to see that the MICE sector is continuing to prove its resilience and strength. The prioritisation of in-person events is a testament to the enduring value of face-to-face meetings and events, and we’re so proud to play a part in facilitating these important connections between venues and planners.”
RFPs and small meetings
The report also reveals request for proposal (RFP) response time trends, with 59% of all enquiries through venuedirectory.com receiving responses within 2.5 hours. Approximately 38% of responses are addressed within the first hour, which is 9% lower than 2019. Response times are a critical metric for venues to track as recent industry reports show that 42% of planners across Europe expect a response within 48 hours, and hospitality professionals are increasingly leveraging technology to ensure timely responses, even in the face of continued staffing challenges.
In a shift towards small meetings, the report additionally shows an expenditure exceeding £100m dedicated to small meetings in 2023, with 65% of these small meetings lasting less than a day and 72% having fewer than 30 delegates.
Gutteridge added: “As businesses prioritise efficiency and flexibility in their meeting programmes, the delicate balance between budget constraints and maximising employee and customer engagement becomes even more pronounced.
“This surge in small and simple meetings spend signals a strategic move by businesses to optimise resources and emphasises the importance of ‘simplexity’ – which is leveraging technology to turn complex projects or events into simple, repeatable processes. The simple meetings sector is emerging as a key driver of economic growth in the meetings and events industry.”
