2010 set for a slight improvement in budgets
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We wanted good news but got mildly positive feedback: budgets for 2010 should go up, as more people plan an increase in their budgets than a drop. But the balance tilts only slightly towards the positive side. As Rob Davidson explained in his trend report, recovery will be progressive. 38% see flat budgets, 35% foresee a rise in their budgets and 28% see a decline also for 2010. No Champagne yet, but you can start smiling.
Regarding methods to reduce budgets in 2009, cancellations appear as the first solution, followed by several ways of simplifying events and meetings: avoid luxury, reduce the number of delegates, and simplify setups. The surprising news is that doing events closer to home does not appear to be a frequent solution, despite often being presented as a solution to cutting costs. And good news for the middleman: cutting the agency is only a solution for 5% of interviewees.
