Special event pros expect the number of corporate events they stage this year will stay strong, with a healthy 40 percent forecasting they will stage more corporate events in 2020. The findings come from the latest Special Events “Corporate Event Forecast,” conducted by Informa Engage. Informa is the parent company of Special Events.
The majority (65 percent) expect the number of corporate events staged in 2019 to remain about the same as their “typical” amount. One in four (27 percent) expect to stage more events than they did in 2018. Respondents anticipate slightly more growth in 2020, when 40 percent expecting to stage more corporate events next year.
BUDGETS TO GROW Just under half of respondents (46 percent) report increased expenditures on corporate special events in 2019. Overall, respondents reported an average increase in spending of 2.4 percent. Similarly, 45 percent expect increased expenditures in 2020, with an overall average increase of 3.4 percent.
A majority of respondents (55 percent) expect their organizations’ budget allocations for staging corporate special events to increase in 2020. An additional 28 percent expect allocations to remain flat. Overall, the typical respondent expects an average 2.8 percent increase.
MEASURING RESULTS The majority of respondents (66 percent) report their that organizations attempt to measure the ROI of their special events. An additional 15 percent are considering doing so. The most commonly used methods for measuring ROI include client retention (56 percent), response from attendees (55 percent), and total attendance (54 percent), followed closely by new client leads (48 percent) and revenue (48 percent).
Four in 10 respondents (42 percent) currently contract with independent event planners, and another 8 percent are considering doing so. Half (51 percent) have no plans to do so.
See the complete forecast, along with 10 years of lookback data, in the Summer issue of Special Events. Not a subscriber? We can fix that; just click here.
