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UK Market Trends Survey Research

EVENTIA RELEASES LATEST INDUSTRY RESEARCH

Eventia today publishes the 2009 ‘UK Events Market Trends Survey’ (UKEMTS) results, providing a vital insight into the current state of the industry from a supply-side perspective.

The annual Survey (previously known as the ‘British Conference Venues Survey’) is based on data supplied by a record number of 512 reporting venues from across the UK (compared with 446 in 2008). They represent almost 15 per cent of the UK’s business events venue universe.

The UKEMTS 2009 shows the UK events market experienced a slight downturn in the period 2006-8 (in terms of direct revenue to venues) with an estimated value of £7.2 billion, compared with £8 billion in the 3-year period 2005-7. This is due mainly to a fall in the average number of events per venue (375 in 2006-8 compared with 396 in 2005-7) and fewer residential events, with a significant economic impact since residential events and conferences account for almost 60 per cent of overall venue income from events. Even so, the research confirms the vital importance and scope of the events sector to the UK economy.

Other key findings include:

• There were an estimated 67 million attendances at events in 2008 (an estimated 1.31 million events with an average attendance of 51 people)
• A general tightening of budgets and a more price-sensitive market manifested in: more negotiation on rates; shopping around by event organisers seeking better value for money; reduced spend on catering and even, in some cases, timing events to exclude meals
• A further shortening of lead times for events, a longer wait for confirmations and increased cancellations
• A sizeable proportion of venues (44 per cent) have postponed product investments and refurbishments originally planned for 2009, but a third were still planning to invest in excess of £100k and 9 per cent will be spending over £1 million. University and academic venues, in particular, anticipate substantial product investment in 2009
• The dominance of city venues – the huge investments in infrastructure and facilities enjoyed by most city destinations over the past couple of decades are reaping benefits in the business events market – city venues hosted on average 447 events a year, well above the overall average. By comparison, venues located in rural areas staged on average 250 events a year.

Izania Downie, Eventia CEO, commented: “UKEMTS is a crucial barometer of what’s happening in the events sector and should be required reading for anyone who needs an informed view of the trends and changes in our sector. Eventia is actively developing its contribution to industry research, and we shall be complementing this vital supply-side research with leading edge buyer research later this year.”

Tony Rogers, who project-managed the UKEMTS research on behalf of Eventia, acknowledged the wide-ranging support from venues, destinations, other trade bodies and industry media who had contributed to the record response achieved. He said: “We are delighted with the support we received in compiling the data – it’s a tangible demonstration of the industry working together for the benefit of all. I would also like to thank TEAM Tourism Consulting for their invaluable work in interpreting UKEMTS data and writing the Survey report.”

The annual UKEMTS survey, conducted across convention bureaux and venues in the UK, aims to measure the key characteristics of the UK events and conference market from a venue perspective and then provide the best possible estimates for volume and value aspects of the market. Specifically it provides detailed data on the volume of events; duration; delegate rates; levels of residential business; source of events (companies, associations, public sector bodies) and whether local/regional, national or international ; event size; the value of event activity; venue expectations for future market developments plus feedback on trends in event organiser requirements.

Copies of the ‘UK Events Market Trends Survey 2009’, priced at £175, may be ordered from Eventia (email: [email protected]).