Exhibitors
are feeling the budget strain, with 85 per cent of exhibitors in Q1 2023
choosing where to exhibit based on cost.
In
addition, three quarters of exhibitors say they are feeling some pressure to
cut exhibit-related costs.
The
new market data from market research platform Explori was shared at a Hire Space event in London, with the full data due for imminent release.
The
Events Outlook brought together
more than 40 senior event professionals and event heads for a panel discussion
and networking at Convene, 22 Bishopsgate, on Wednesday 3 May, and delved into
optimising event programmes against stretched teams and rising event costs.
Chloe
Richardson, VP of senior corporate relations at Explori, said: “At Explori, we
feel incredibly fortunate to work closely with communities, associations, and
networks across the events industry, enabling us to continually gauge the pulse
of the sector. With access to this wealth of information and insights, we are
committed to sharing our findings whenever possible. We are grateful to
Hirespace for providing us with the platform to present our latest data and
offer a snapshot of Q1 2023.”
Alongside Richardson, the panel featured
Nikki Macmillan, head of events at New Financial, Kate McLachlan, events manager at Kennedys Law, and Craig Bennet, general manager at Convene, 22
Bishopsgate. Eliot Sargeant, head of business development at Hire Space,
moderated.
The key takeaways from the panel can be found here.
The
event was delivered in connection with the company’s Hire
Space 360 service, which provides
streamlined event support to corporate event planners. The company has seen a
115 per cent year on year increase in uptake of Hire Space 360 since the
pandemic, as demand for events mounts, and expectations on already-stretched
teams ramp up.
Hire Space co-founder, Edward Poland, said:
“The pressure on event planners is significant, and services such as Hire Space
360 are becoming more and more valuable to provide support on event programmes
and help keep events delivered on time and on budget. The idea is to take the
strain off event professionals in venue and supplier sourcing, contracting, and
onboarding so they can focus on delivering genuinely exciting and engaging
events.”
