2018 forecast Photo by Marek Uliasz / © Getty Images

Special Events 2018 Event Rental Forecast Shows Opportunities, Threats

The good news: more event business. The bad news: where are the workers?

Some 95 percent of respondents to the Special Events “2018 Event Rental Industry” forecast say they will handle the same number or more events this year than they did in 2017

A total of 75 percent of respondents say they will handle more events this year than they did in 2017.  These finding shows an improvement over the 2017 report, where 64 percent of respondents expected a better business year than the year prior.

A total of 20 percent of respondents expect to handle the same number of events this year as they did in 2017. One percent say they think this year’s event workload will be lower than it was in 2017.

A total of 56 percent of respondents expect revenue from social/private events to increase in 2018 while 34 percent expect it to remain the same and 2 percent expect it to decrease.

Some 66 percent of respondents expect revenue from business/corporate events to increase in 2018, with 28 percent expecting it to remain the same and 1 percent expecting it to decrease.

How to adapt to the new business environment? The No. 1 reply, listed by 85 percent of respondents, will be to pursue new clients. And the No. 1 threat: shortages in the labor force, listed by 52 percent of respondents as the biggest headache today.

Read the full story—including 10 years of look-back data—in the Spring 2018 issue of Special Events. Not a subscriber? We can fix that; just click here.

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