I was interested to know what impact the will-we won’t-we Brexit scenario is having on EventTribers. Has anyone had clients say they want to wait until the future is clearer before planning events? Is it affecting you in other ways? Let us know!
I work both in the UK and Internationally, so far Brexit hasn’t had a massive impact on the work I am doing. Pharma, Corporate and Entertainment events I work on are ticking along as usual currently (Hopefully this continues).
I think as an industry, we are quite robust at dealing with the political climate. Corporate still need product launches, Associations need annual general meetings and Pharma’s need internal meeting and conferences.
Thanks for your feedback, Ryan. I wonder if it’s leading to more companies holding events domestically in the UK rather than going abroad because of the threat of the exchange rate dropping off a cliff?
Hey @Belinda_Booker ,
I think this is all dependent on the industry of the event, from my experience (I may be wrong):
If it’s a large international conference for; Pharma, Corporate or Association, they still seem to want to move their events around every year or 2 dependent on their rotation. Over the last 2 years at the different companies I’ve worked at, the majority of organisations I’ve worked with haven’t changed the way they’ve looked into venue locations. With the majority booking venues way in advance and aware of the political uncertainty.
International exhibitions always have the highest footfall from the home nation, so that also depends on the target audience.
I think on the smaller scale events, such as smaller meetings maybe there is more of an impact of keeping things in the UK, but I don’t really work on these much so I couldn’t answer that. But i’ll speak with some of my other contacts in other agencies/venues and chat with them about it.
There is definitely a noticeable increase in cost when working in Europe. With the exchange rate fluctuations causing issues for most companies when invoicing.
That’s great insight. It seems the exchange rate is so sensitive to every little thing Theresa May says or does at the moment - it certainly makes things difficult!
I have seen a massive drop in companies spending in tech for events this year.
Although it’s the same amount of people and same event, they aren’t wanting to put much more money then they have to into the event.
Nice insight Ryan, it would be good to see both front and back end of events to see where things are or aren’t changing.
Yes, agreed. I think there are areas of the industry where the uncertainty is having an impact. I received a press release today stating that 19% of British people have altered their holiday plans as a result of ongoing uncertainty surrounding the UK’s withdrawal from the EU.
According to emerchantpay, 12% of people have delayed booking their holiday this year, whilst 4% have booked a holiday in the UK instead of abroad and a further 3% have booked a holiday abroad but outside the EU, due to Brexit.
The reasons for these changed holiday plans include worries about foreign exchange rates as the pound continues to drop in value (36%); concern about the overall stability of the UK economy and not wanting to spend money (24%); and uncertainty around what insurance policies will and will not cover depending on the final detail of Britain’s exit from the EU (24%).
It’s reasonable to assume that similar concerns are influencing business spend, at least to some degree.