The variety of attendees at conferences and occasions is up this 12 months in comparison with 2018, and that corresponds to a rise in present and anticipated budgets, in accordance with Cvent’s newest Planner Sourcing Report. Greater than 50 % of the two,650 world planners surveyed mentioned attendance at their conferences had elevated over the previous 12 months. Greater than 50 % even have seen their budgets enhance, notably for fundraisers, commerce reveals and conferences and conventions. Forty-one % usually or at all times use third-party planners.
Planners additionally anticipate future budgets to rise: Fifty-five % anticipate a rise in meals and beverage prices, 54 % see journey costs growing, 52 % are planning for spikes in prices for venues and 52 % anticipate increased prices for occasion administration know-how. Seventy-two % would wish to save lots of 6 % earlier than contemplating a swap to their second-choice venues.
As well as, the survey revealed ache factors for planners. Forty-four % cited communication issues as the rationale for selecting to not submit an RFP to a venue, and 32 % need higher consideration to element in RFP responses. Practically six in 10 planners is not going to return to a venue as a result of an absence of professionalism. Simply 16 % mentioned trustworthiness is the first space that wants enchancment, down from 30 % in 2018.
Virtually 50 % of respondents nonetheless handle room blocks manually, however 59 % would like a tech-driven resolution.