83 per cent of organisers saw an increase in event costs
last year, according to a survey by Birmingham venue The Eastside Rooms.
The venue’s cost of living impact survey also found that 37
per cent of association and 30 per cent of corporate organisers increased
salaries in 2023.
The survey reveals that organisers have increased salaries
and freelance/consultant fees to help teams adjust to the impact of the cost of
living crisis.
Specifically:
- 28 per cent of
associations/not for profits increased staff salaries while another 9 per cent
increased freelance/consultant fees
- 25 per cent of corporates
increased staff salaries whilst another 5 per cent increased freelance/consultant
fees
The Eastside Rooms conducted a survey of 125* event
professionals from around the world in October 2023 to identify challenges and
opportunities faced due to economic challenges. Alongside the impact on the
organisers, the survey also explored differences seen in attendee behaviour.
In addition, the report showed that 24 per cent of
organisers (associations – 24 per cent and corporates – 25 per cent) are
providing flexible working arrangements to meet their needs of their team.
Only 2.5 per cent of corporates have seen the need to
decrease freelance/consultant budgets while making no changes to their staff
compensation. 2.5 per cent of associations have also decreased
freelance/consultant budgets, however 7.5 per cent have also seen the need to
reduce staff salaries or benefits.
“It is clear the industry continues to evolve through the
current economic challenges faced by both associations/not for profits and
corporates. Staff are the lifeblood of our industry, so it is a real
positive that they are on the whole being looked after,” said Leanne Bladen, director
of sales & marketing at The Eastside Rooms. “We undertook this survey
to ensure we truly understand our clients and their current needs. The
output has been incredibly powerful, and we are considering many of the key
findings in our ongoing communication and activity with our clients –
especially how we can help them support their teams.”
*The Eastside Rooms surveyed 125 event professionals in
October 2023. During the survey they were asked what type of organisation
they worked for; these were combined into two groups as follows:
- Association, charity/not for
profit, government/public sector and agencies focused on these sectors. Total –
80 respondents – described as associations/not for profits above
- Corporate company 500 or more
employees, corporate company less that 500 employees, agencies focused on the
corporate sector. Total – 40 respondents - described as corporates above
- The remaining 5 responses
were excluded as industry suppliers
69 per cent of the respondents were from the UK, 19 per cent
from Europe and the remaining 12 per cent from the rest of the world.
