The events sector also suffers the law of gravity

Two recent studies show that events do not escape completely the current economic gloom, but the word crisis would be very excessive, for sure.

On the one hand, the MPI´s Quarterly Business Barometer, produced by MPI (Meeting Professionals International) and American Express at international level, point at deteriorating prospects for the second quarter: 33% of respondents foresee a decline in their events activity for the next 6 months. Nothing dramatic, since a significant 66% expects to grow, but still a drop compared with the first semester level of 24%. Among the factors affecting our industry, the increased costs of travel stand out; they will impact the events activity for 69% of respondents.

The second study, conducted in the U.S. by The Special Events Magazine Corporate Event Marketplace, indicates only 19% of respondents are planning to organize more events than last year, a drop of 10% compared to 2007 and a change in trend after six years of growing optimism. One way to reduce costs in this difficult context can be, according to the Special Events Magazine, to reduce outsourcing: 64% do not use events agencies, an increase of almost 10% compared to 2007.

In any case, professionals predict that prosperity will come back soon: almost one third planned to organize more events in 2009 than in 2008, while two-thirds provide stability. Crisis, what crisis?