As the year draws to a close, special event professionals in all disciplines predict a mixed bag of results this year.
Twenty-five percent of respondents predict their organization's event revenue will be higher in 2009 than it was in 2008. Twenty-two percent say this year's revenue will be on par with last, while 33 percent say revenue this year will be lower this year than last. Twenty percent said they are still unsure how revenue will fare this year.
Respondents were polled over a two-week period ending Oct. 9.
SOCIAL OUTPACES CORPORATE
Not surprisingly, the social market is outpacing the corporate market.
Eight percent of respondents say their business has involved social events (weddings, bar/bat mitzvahs, etc.) exclusively in 2009. Eleven percent say social business makes up 80 percent or more of their activity; 14 percent say it makes up at least half. Twenty-two percent say social business accounts for a third or less of their event activities.
As for corporate business, 3 percent of respondents say it is their sole activity this year. Five percent say it makes up 80 percent or more of their activity, while 15 percent say it makes up at least half. Thirty-one percent say it makes up less than a third of their event business.
For a detailed forecast of event business for 2010, see the January-February issue of Special Events.
Photo by iStockphoto.com / © Alex Slobodkin
RELATED STORIES FROM SPECIAL EVENTS
Corporate Event Forecast Mixed, Latest Survey Says
Caterers Show Cautious Optimism for 2009 Holiday Party Business
Blooming in Bad Times: Success Strategies from Top Event Planning Companies