Cuts hitting public sector meetings business hard

A new
survey from the Meetings Industry Association shows cuts in public sector
meetings spend are hitting deep, with a quarter of venues exposed to this
business.

The
MIA’s online survey for the latest quarter shows venues reporting a 68.8 per
cent reduction in their public sector business, compared to 58.4 per cent
reporting the trend in the previous quarter.

Twenty-five per cent of venues admit being ‘reliant’ on business from
the public sector, with a further 48.4 per cent of those surveyed reporting
cancellations of events in excess of £50,000 from this
sector.

With
more than 84 per cent of the 423 venues surveyed regularly taking business from
the public sector, the MIA believes businesses need to take action now, or risk
further declines in revenues.

“We
have been working closely and proactively with our members in recent months to
look at ways in which they can redress the balance and change their business
mix,” says MIA Chairman, Peter Darnell. “It is crucial that venues begin to look
elsewhere now for business, as our forecast is for the decline in public sector
meetings to continue and potentially accelerate as the coalition government
spending cuts are fully implemented.”

Paul Colston

Author

Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

Up Next

Related Posts

banner