As an experienced event planner, I’m eager to provide you with valuable insights to elevate the success of your upcoming event, given the increased focus on value.
Rising Event Costs
All indications are that event budgets are being stretched this year. According to a recent article from MeetingsNet, 64% of respondents saw a 6% or higher increase in costs over this past year, including everything such as catering, transportation, meeting space and even A/V needs, and many anticipate that trends continuing.
What this means for event organizers is they will have to do as much as they
can with the limited (or reduced) budgets they have, and they will be looking
for opportunities to get more “bang for the buck” in areas they feel they can
reduce spending.
Selecting Events During Economic Challenges
For people planning to attend events, they are going to be more selective about
which events to attend, as they may be dealing with limited (or frozen)
corporate travel that often coincides with periods of economic uncertainty.
People will also be looking at the value of attending an event and will choose
only the events where they feel there is a clear benefit to them.
