The Events Industry Council (EIC) has released its Q2 2023 Global Events Barometer, reflecting positive trends in the events and hospitality sectors. EIC collaborated with Oxford Economics, utilising data from industry leaders like Amadeus Hospitality, Cvent, the Global Business Travel Association, and STR Global to gauge the market’s recovery post-pandemic.
Key highlights from the report include:
- RFP Activity: The Request for Proposals (RFP) activity index rose to 91, marking a 91% return to 2019 levels for event planners’ future event inquiries. Hotel group room nights reached an index of 98, representing 98% of the 2019 levels.
- Event Sizes: Large and medium events returned to pre-pandemic levels (103% of 2019), while small events remained at 88% of 2019 levels.
- Regional Trends: RFP activity increased worldwide, with the Middle East and North America leading at 128% and 116% of 2019 levels, respectively. Hotel room nights improved primarily in Western Europe, with declines in Africa and the Middle East.
However, concerns exist regarding global economic growth, geopolitical tensions, and tighter lending, which could impact business events in the latter half of 2023. Despite these challenges, the long-term outlook for business events remains positive, emphasizing their substantial global economic impact and importance to various industries beyond direct event spending.
Events Industry Council, Amadeus Hospitality, Cvent, GBTA | Global Business Travel Association, STR Global Ltd, Atul Khankriyal, Keneisha Williams, Claudia van´t Hullenaar, Jenn Glynn, Amy Calvert, Hannah Messenger, Tonya Almond, CMP, Mariela Bazán, Augustine “Gus” Chijioke, LinkedIn News
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