The conflict in the Middle East is affecting the work of almost
three quarters (73 per cent) of event professionals, a survey by the Meetings Industry
Association (MIA) has revealed.
Last month, corporate event organisers told M&IT they were
reviewing programmes in the Middle East and reconsidering destinations that had
previously been considered safe and stable for their future incentives and
events, as the Iran war escalated.
But the impact of the conflict on the UK’s business meetings
and events sector is far greater than predicted, according to the findings by
the MIA.
Aside from event postponements and cancellations, there are
reports of slower booking activity and growing gaps in event diaries, due to
clients’ reluctance to sign contracts or confirm numbers during this uncertain
period.
Respondents said there was hesitancy from international
clients who are delaying decision-making and showing reluctance to commit to contracts
and requests to hold space without formal confirmation. In some cases,
contractual terms are subsequently being revised to allow greater flexibility.
MIA CEO Shonali Devereaux said: “The current political
climate is difficult to predict, which means clear, practical guidance is even
more important to help organisations make informed decisions and maintain
confidence during times of uncertainty.
“As we continue to monitor the situation and its impact on
the sector, we encourage organisations to continue sharing their experiences
with us.”
The MIA is working with international law firm CMS and event
insurance experts InEvexco to explore how the sector can increase booker
confidence and reduce the risk of cancellations. The collaboration will focus
on mitigating the current pressures affecting the decision-making process by
recommending practical contractual and insurance solutions that help
organisations secure bookings during periods of uncertainty.
