Half of independent event professional respondents expect revenue derived from both business/corporate (51 percent) and social/private events (49 percent) to increase in 2016. 

Relatively few expect decreases (business/corporate events 12 percent; social/ private events 7 percent). 

The typical respondent expects business/corporate event revenue to increase an average 13 percent, and social/private event revenue to increase an average 12 percent.

The greatest challenge facing independent event professionals in 2016 is reduced client budgets (53 percent), followed by shorter lead times (41 percent), increased competition (35 percent), an uncertain economy (33 percent), demonstrating the value/ROI of special events (30 percent) and labor shortage/lack of skilled labor (30 percent). 

Similarly, the biggest challenge facing in-house event professionals in 2016 is reduced budgets (50 percent), followed by demonstrating the value/ROI of special events (44 percent) and shorter lead times (37 percent).

The most common steps being taken to improve business in 2016 include creating events for smaller budgets (50 percent), forming partnerships with other event professionals (48 percent), more aggressive marketing (47 percent) and broadening the client base (46 percent).