2023 venues and events predictions and trends were the focus of our most recent client webinar. Our team and guests discussed:
-the challenges and opportunities from 2022,
-what we see coming in the next year in terms of industry changes and venue updates,
-what the global markets are like – including insights from our team.
Below are some of the key insights for those who missed it.
2022 lead times have been short across the board. And what we’re hearing from venue partners is the challenges this brings with it. Lead times have reduced to around two weeks’ notice in so many cases. It makes producing proposals and preparation for the events – food ordering, risk assessment etc. – far tougher, and can have a knock-on effect on services.
As a company, Venues and Events International has been supporting clients on-site more than ever. This includes those we wouldn’t usually join on-site, supporting the venues and clients to deliver events. This is partly to give clients confidence while venues get back up to expected staffing levels.
The new world is a learning curve for all, and although it’s a very different world for new industry employees to join, we’re all working together to get back to where we were, and things are improving.
While the UK events market seems to have left Covid-19 behind it, what is happening in international markets?
The intelligence we have as a company at Venues and Events International tells us that the US events market has taken off. Since the exchange rate tipped in favour of the US with the dollar’s strength, the UK is attracting lots of US business, especially into London.
Much of this UK business is being booked as far ahead as 2026 with payments up-front, taking advantage of those exchange rates. This shift could result in increased availability challenges down the line. So on top of pent-up post-Covid demand, we could see the increased incoming business putting future pressures on UK 2023 venues and events – and beyond.
It’s an interesting shift that all event profs must be aware of!
The 2022 leisure market was strong, which has been important to venues for attracting higher rates from that market. But with flight restrictions easing off and airports opening up flight routes coming back, the leisure market has drifted slightly from the UK. So this may support corporate rates in 2023.
Airports are getting busy, and traveller confidence has increased, as has the speed of security processing and staffing levels. These steps are all positive for business travel and events. Yet, wise and frequent travellers still allow additional time for airport passport control at both ends of their journeys.
Some buyers are seeing rate increases in London of up to 20%. But with new spaces and bedrooms coming on stream, this could ease price pressures. We’re all keeping a watchful eye on whether supply will meet demand (readers can follow our social channels to keep up to date with interesting new openings via the Sneak and Peak pages of our quarterly VE News).
At Venues and Events International, we’re planning and managing an increasing number of reward and recognition events. So, we feel that cross-industry focus on staff retention and attraction. In the second half of 2022, award dinners and ceremonies have been back in full force.
European incentives have been massively popular in the last six months too. Long-haul incentives may still be catching up, with many clients operating incentive trips closer to home in the UK or Europe. It would be easy to assume that this is simply an effect of Covid-19, but clients are focusing on the sustainability element of short-haul.
On that note, the webinar discussion turned to all things green.
Many clients want venues to be able to provide sustainability information for events easily. For example, information about the use of plastics, food and beverage sources and origins, policies on linen changeovers, reusable event signage, recycling or reusing event materials, and much more.
We reminded webinar guests about Venues and Events International’s commitment to sustainability through our EcoSmart accreditation from Greengage. And we talked everyone through EVENTsmart. EVENTsmart is our carbon calculator – powered by Smart Carbon – that measures multiple emissions of an event. It supports Venues and Events International’s clients with their carbon offsetting while ensuring we remain ahead of the curve on sustainability. Clients using EVENTsmart receive emissions data reports displaying their offset requirements. Data collected for the reports include travel, accommodation, meeting space, catering, electric & gas, water usage, event materials and general waste. Smart!!
Did you know you can search for and book venues for small meetings on our client booking portal? This was part of our webinar chat too. The portal is super easy to use and all of our clients can use it. Try it out here!
This was just a taste of one of our webinars – 2023 Venues and Events predictions and trends – and the insights and discussions shared. Follow us on LinkedIn, Instagram, or Facebook to stay up to date with our future news and insights.