Study Shows Optimistic Growth in the Event Industry

November 11, 2014

Photo Courtesy of Flickr Commons

A new survey by Planning Pod, online management software for event professionals, showed optimistic growth in the event planning industry, with an increase in revenue and attendees across all types of events including meetings and conferences.

The 2014 State of the Event Industry survey, which tallied feedback from 418 corporate event managers, event planners, venues and non-profits, reported that event  budgets were larger in 2014 and attendance has been steadily increasing compared to last year.

Specifically, 55 percent of event pros reported increasing attendance at their events, and 43 percent mentioned budgets were larger in 2014.

And although a majority of respondents reported that short lead times continue to be a challenge in delivering quality services, Jim Kear, owner of Planning Pod, says that, “With short turn times now the norm, many businesses are adapting by streamlining RFP processes and getting creative with pre-packaged services” that allow event businesses to become leaner and more profitable.

Planners and event managers also mentioned an increase in food and beverage costs contributing to the overall bottom line.

Staffing proved to be a continuing issue, with 54 percent of respondents saying that it is just as difficult as last year to find qualified job candidates.

Despite the challenges, Kear says that, “Although the Great Recession irreversibly changed our industry, these findings are very encouraging.”

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