MIA Latest Insights Survey

MIA latest Insight Report Feb 2023

MIA’s latest survey, conducted in January 2023, reflects the response of 126 professionals representing organisations within the business meetings and events sector, with almost 6 in 10 (59%) representing an event venue and 4 in 10 (41%) an event supplier.

From their findings they note that there has been a positive recovery from most of the sector. Despite this, there remains clear externalities that are threatening these recovery forecasts, including the significant impact of recent industrial strikes, the cost of living crisis and ongoing recruitment challenges.

“Our research continues to reinforce our understanding of the necessary support the sector needs, while informing government departments on its wellbeing and any attention it may require. I would like to thank those that have contributed in the development of this report, which is essential in ensuring our sector gets the representation and recognition it needs.”

Kerrin MacPhie, Chief Executive, MIA

Headline Findings

• Two-thirds (66%) of respondents state that forecasted revenue for 2023 is more than the revenue they forecasted for 2022

• More than half of respondents (59%) revealed that confirmed bookings for 2023 are the same if not more than confirmed bookings for 2019 as of 1 January 2019

• Almost all (94%) respondents have been negatively impacted by recent rail strikes, costing the sector over £337 million in cancelled business

• More than three-quarters (76%) of organisations have increased their prices to combat rising energy costs

• Three-quarters of organisation’s (75%) currently have staff vacancies, with just over half (53%) understaffed

• 9 in 10 organisations (91%) list sustainability as a key part of their business strategy, with almost three-quarters (73%) holding measurable sustainable targets

MIA Insights Survey