RFP activity in the UK was fifth highest in the world in Q2
2022, according to the Events Industry Council’s Global Events Barometer.
Request for proposal (RFP) activity showed a significant increase in Q2 in the UK, scoring 106 - equivalent to 106 per cent of 2019
levels. The only countries to show higher increases on the same
metric were Mexico, Australia, Turkey and the US.
The UK fared less well on hotel group room nights, reaching
just 69 per cent of 2019 levels, well below the global average of 83 per cent.
Taken as a whole, the research shows that the resumption of global
business events gathered momentum in 2022 Q2, as indicated by both group hotel
room nights and business event RFPs increasing strongly.
The research monitors the
changes within the market relative to pre-pandemic (2019) levels. Globally, the
RFP activity index increased to 81, equivalent to 81 per cent of 2019 levels.
The hotel group room nights index matched the gain, rising to 83, representing
stays during the quarter equivalent to 83 per cent of 2019 levels.
The research also reveals that RFP
activity for events with short lead times has recovered further than requests
for events with greater lead times and that both indexes improved in all global
regions in Q2. The recovery of event activity has been strongest in the Middle
East and North America.
Longer-term forecasts anticipate a cautious economic outlook,
with several countries, particularly in Europe, facing risks of short, mild
recessions in coming quarters. Such economic headwinds are anticipated to slow
but not upend a sustained travel recovery.
EIC
CEO Amy Calvert said: “It is incredibly heartening to witness the significant
momentum in the second quarter of the year. However, with rising inflation
rates, the impact of the energy crisis and ongoing socio-political events, we
must remain confident in our capacity and yet prepared for all possibilities,
continuing to build upon the momentum and celebrating what we have achieved
thus far.”
The Global Business Events Barometer was created by Oxford Economics using data
provided by Amadeus Hospitality, Cvent, the Global Business Travel Association
and STR Global.
The report has been generously supported and sponsored by leading organisations
including AHLA, ASAE, Freeman, IACC, IAEE, IRF, Los Angeles Tourism &
Convention Board, Maritz Global Events, MGM Resorts International, MPI,
Northstar Meetings Group, NYC and Co, PCMA, RCMA, SISO, SITE and the US Travel
Association.
You can download a copy of the report here.
For more information on the Events Industry Council, visit: https://www.eventscouncil.org/
