The events industry is grappling with several key trends, as highlighted in a recent SITE webinar discussing event trends and insights. With in-person events returning to pre-pandemic levels, space scarcity is a concern, leading planners to source early, source often, and explore diverse venue options.
Rising inflation is intensifying cost control efforts, impacting budgets, and resulting in smaller group sizes for incentive trips. Planners are also considering multiple destinations for events, with European cities such as Vienna, Florence, Dublin, Milan, and Prague gaining popularity. The ongoing conflict in the Middle East may impact destination choices, but global sourcing volume, particularly in Asia, has rebounded.
The webinar also delved into the life cycle of events, revealing varying durations based on event size and booking windows ranging from 100 to 300 days. In-person events dominate, constituting 85% of event programs, while virtual events remain popular in hybrid formats. The industry is focusing on rebuilding partner and supplier relationships due to staff turnover, with new planners emphasizing the need for digital tools amid time constraints and limited site visits.
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