Cost and value for money is the number one issue for UK event planners when choosing a destination, according to The Business of Events’ 2024 Planner Sentiment Report.
The report shows the current priorities of event buyers from across the sector, including corporate, association, agency and incentive and reward, from the UK, Europe and North America when selecting an event destination or venue.
All those surveyed were asked to rank 10 topics of sentiment on a scale of 1 - 10, with 1 being regarded as not very important and 10 as very important.
For UK planners, cost and value for money was the top priority, with a score of 10, while topics scoring 9 included equity and diversity, safety and security and destination welcome. Cultural identity and sustainability and social impact were the lowest scoring topics, each rating 7.
The report shows differences in priorities across the regions. For North American planners safety and security was the top issue when choosing a venue or destination, scoring 10, while in Europe there were five issues tied for first place on 9 points each: cost and value for money; destination and city brand; equity and diversity; safety and security; and destination welcome.
The report said: “Although we have continued to see a relatively constant level of sentiment from planners across all regions, with the slight change in topics allocated, there are several areas that warrant further comment, as we see Cost & Value, Safety & Security and Equity & Diversity all tracking higher against 2023.
“Cost and value for money have all tracked one point higher in every region surveyed, reflecting increased even costs and pressure on overall budgets through higher inflation. This is also reflected in our last two Event Economy Tracker reports, which both highlight increased venue and ancillary costs.
“The increase in importance of Destination Brand, again up one point overall, also reflects the need for a more more personalised experience for brands and delegates. Equity and Diversity, also tracking higher, although more so across the UK and Europe, reflects an increase in the wider conversation around EDI issues.”
Sustainability has reduced in importance as a key decision factor, tracking around 1.5 points lower on average across the UK & Europe.
The report added: “In discussions with some of the planners who contributed to this report, while sustainability is still considered an important issue, we believe that while there is a degree of ‘sustainability fatigue’, due to the level of focus on this topic over recent years, there is also a feeling that the need for strong sustainability practices, especially within venues, has made it become more of a utility requirement, and therefore expected, rather than something which is seen as value added.”
Created by brand communications agency davies tanner, The Business of Events is a think tank and advocacy network for the business events sector, with the objective of raising the importance and profile of business events as a driver for economic, community and social growth.
To download the full report, click here.
