The 2019 Event Planner Forecast--a Special Events exclusive--shows that 80 percent of independent event planners expect to stage the same number or more special events in 2019 than they will this year. The research was conducted by Informa, parent company of Special Events.
That figure rises to 90 percent for in-house event planners, who expect to produce the same number or more special more special events in 2019 than they have this year.
Just under half of independent event professional respondents (47 percent) expect to stage more events in 2019. Only 33 percent expect to stage the same number of events next year.
Half (52 percent) of in-house event professionals respondents expect to stage the same number of events in 2019. An additional 38 percent expect to stage more events in 2019.
BUSINESS VS. PRIVATE The 2019 outlook for business/corporate events is robust, with the majority of independent event professional respondents (62 percent) expecting revenue increases. The typical respondent expects a mean increase of 19 percent in business/corporate event revenue.
The outlook for social/private events is a bit more tempered, with 48 percent expecting revenue increases, and 29 percent expecting no change. The typical respondent expects a mean increase of 13 percent in social/private event revenue.
CONFRONTING CHALLENGES The top three challenges facing independent event professionals in 2019 include an increase in competition (49 percent), shorter lead times (47 percent) and reduced client budgets (45 percent).
The primary challenge facing in-house event professionals in 2019 will be reduced budgets (54 percent), followed by demonstrating the value/ROI of special events (36 percent), shorter lead times (33 percent) and labor shortage/lack of skilled labor (27 percent).
The most common steps being taken by independent event professionals to improve business in 2019 will be focusing on more profitable business (57 percent), marketing more aggressively (56 percent), forming partnerships with other event professionals (55 percent), and broadening the client base (52 percent).
The most common steps to be taken by in-house event professionals to improve business in 2019 include creating events for smaller budgets (53 percent), demonstrating the value of/ROI of events (48 percent) and adding new technology capabilities (46 percent).
The complete article, including 10 years of look-back data, will appear in the Winter 2019 issue of Special Events, available only to subscribers. Not a subscriber? We can fix that; just click here.