The Meetings Industry Association’s (mia) latest research has revealed that nearly three quarters (72 per cent) of UK venues are forecasting a greater than 60 per cent reduction in revenue if social distancing restrictions remain at two metres.
The research also revealed that the vast majority of venues (95 per cent) believe their productivity will be improved if social distancing is relaxed or reduced.
The gathered business intelligence, which will feed directly into the Department for Digital, Culture, Media & Sport’s (DCMS) Visitor Economy Working Group, highlighted that 38 per cent would break even if restrictions were reduced to one metre, while 23 per cent do not forecast to break even in any scenario where restrictions are altered. By comparison, 35 per cent of respondents stressed they would only break even if social distancing restrictions were lifted in their entirety.
The majority (95 per cent) believe their productivity will be improved if the social distancing guidelines were reduced. To enable this to take effect, the majority (75 per cent) highlighted a reduction to one metre would be required, while 21 per cent said the restriction would need to be lifted in its entirety.
Jane Longhurst, chief executive of the mia, said: “This was a short notice request, which meant responses had to be collected and collated at speed. As usual our mia members and the wider industry responded brilliantly. Every response helps support our role in informing government of our industry’s needs and any barriers to its continuity. It could make all the difference to our sector, so we really are grateful to all those who kindly contributed.”
A copy of the report can be found here.
The mia exists to serve the conference, meetings and events sector, founded by a proactive group of hotel and conference centre operators and booking agents, providing accreditation, industry awards, research and a voice to government. It has 800 accredited members.
M&IT editor Paul Harvey is a journalist with more than 15 years of experience. He began his career in the local press, working for various titles across the north. Since joining M&IT in 2013, he has become a trusted and respected voice in the sector, championing event professionals and reporting on all aspects of the events industry for the brand.
