The overall value of the UK corporate events market fell by 13 per cent in 2010 compared with 2009, according to new research by Eventia.
The report, entitled ‘UK Events Market Trends Survey 2011’, reveals that while the number of events staged during the year remained at approximately 1.3 million, the level of expenditure they generated reduced from £18.8bn to £16.3bn.
The number of residential events also took a dip in 2010, falling from 26 per cent to 21 per cent, with most (68 per cent) events lasting just one day or less (64 per cent in 2009).
However, venue managers were optimistic about prospects for 2011, with 42 per cent expecting that business will increase and 36 per cent anticipating that it will remain the same.
Other key statistics in the report, compiled from data supplied by 360 UK venues, show that the average number of events per venue dropped from 379 a year in 2009 to 371 in 2010. Average attendance was 76 people, while the average daily delegate rates was £42 and the 24-hour rate was £120 (both including VAT). Price is still perceived to be the single most important selection criterion for buyers.
Rob Allen, Eventia chairman and chief executive of TRO, said: “UKEMTS is a crucial barometer of what’s happening in the business events sector and should be required reading for anyone who needs an informed view of the trends and changes in our sector. We shall be using the trends and other market intelligence revealed in this survey for education, marketing and advocacy purposes.”
Copies of UKEMTS11, priced at £175, may be ordered from Eventia. Email: email@example.com or visit: www.eventia.org.uk.