Every year, Special Events commissions a research study from Penton Media to forecast trends in the corporate event market, both for the current year and for the coming year.
This year's study shows:
- The majority of respondents (57 percent) expect the number of corporate events staged in 2016 to remain about the same as their “typical” amount. A third (33 percent) expect to stage more.
- Respondents anticipate slightly more growth in 2017; 42 percent expect to stage more corporate events in 2017, while 52 percent expect the number of corporate events to remain flat.
- While the majority of respondents (60 percent) expect to spend less than $500,000 on corporate events expenditures in 2016.
- The typical respondent reports average expenditures on corporate events will reach $977,277 in 2016.
- Half of respondents (47 percent) report increased expenditures on corporate special events in 2016. Overall, the typical respondent organization increased spending an average 2.2 percent.
- Similarly, 48 percent expect increased expenditures in 2017, with an average increase of 2.7 percent.
- Four in ten respondents (42 percent) expect their organizations’ budget allocations for staging corporate special events to increase in 2017. An additional third (37 percent) expects no change.
- Overall, the typical respondent expects an average 2.3 percent increase.
See the full story—including 10 years of look-back data—in the summer issue of Special Events. Not a subscriber? We can fix that—just click here.
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