Business Events Global Report

December 29, 2022 by Catriona Anderson

The business events sector is being taken more seriously by governments around the world, according to The Business of Events’ Global Destination Report.

The report also found that funding has remained broadly stable and that there is an enhanced focus on the legacy of events. There is an indication of a decline in international events, but to date this has been compensated by an increase in domestic events.

Launched at IBTM World in Barcelona, the second edition of the Global Destination Report was commissioned by comms agency davies tanner and conducted by business events research agency SFA Connect, and aims to establish how the sector has changed since 2019. Focusing on six main areas including funding, volume and legacy, it aims to demonstrate to government and policymakers the benefits of a strong and supported business events sector.

The survey was conducted during September and October 2022 among more than 1,100 destination respondents. Just over half (56 per cent) of respondents report to a domestic tourism department, with the remaining 44 per cent reporting to other departments or agencies. This suggests that the business events sector is generally viewed as part of the visitor economy and the wider tourism mix.

More than half of respondents (55 per cent) reported that how they are regarded by government had increased since 2019, suggesting that the role played by business events departments is being taken more seriously. Just seven per cent of respondents reported a decrease.

When it comes to budgets, just over half (52 per cent) have seen core funding remain the same or increase since 2019. 42 per cent of respondents have seen a decrease in funding.

A significantly larger proportion of respondents reported a decrease in volume of international events in 2022. In Europe, 65 per cent of respondents reported a decrease in international events compared to just 16 per cent reporting an increase. This compares to 31 per cent and 38 per cent reporting increases in regional and national events respectively, alongside 23 per cent and 25 per cent reporting decreases.

Legacy continues to play an important role for destinations, with 95 per cent of respondents saying that legacy or future building when bringing a major event to their destination was either very important (61 per cent) or somewhat important (34 per cent). Just five per cent said it was not very important, with no one saying that it was not at all important.

You can download and read the full report here.

Source: M&IT Magazine

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