• March 14, 2022

Event budgets on the rise, finds Cvent report

Event budgets on the rise, finds Cvent report

Event budgets on the rise, finds Cvent report 1024 683 micebook.

Planners have bigger budgets for in-person and hybrid events compared to 2019 (pre-pandemic), according to Cvent’s 2022 Q1 Planner Sourcing Report: Europe Edition.

The research, which surveyed over 500 event planners, managers, coordinators and directors across the UK and Europe (France, Germany, Italy, the Netherlands and Spain) in January 2022, found that 68% have more budget, while only 13% said their budget has been reduced.

Regionally, in the UK, just over half of planners (57%) have more budget. In Germany (71%) have more spend, which is the same proportion of planners that have increased budgets in other European markets (71%).

The report revealed that planners across the UK and western Europe are embracing a diversified range of event formats for their programmes in 2022; with more than 70% saying that events with in-person components will make up the majority of their event programmes.

Of that 70%, hybrid events are the most popular format (38%). Only 25% of respondents said that virtual events would make up the bulk of their 2022 event programmes.

The results of the survey show that from a regional perspective, event organisers in Spain (60%), the UK (48%), Germany (37%) and Italy (38%) say a hybrid format is the main choice. Just over half of the planners in the Netherlands (59%) cited in-person gatherings as their top option, while virtual is top in France (45%).

The report also reveals most planners (71%) are currently sourcing venues for events with in-person components, and of those planners, two-thirds (66%) say they will hold events in the first half of 2022 (whilst 70% are planning events in the second half of the year).

By region, sourcing for in-person events increases to 96% for planners based in Spain, 92% in the Netherlands, 87% in the UK and 73% in France.

When it comes to selecting a venue for their events, the most important consideration for planners across the UK and Europe are on-site production and tech expertise and venue/meeting room rates (both 27%).

Chris McAndrews, vice president of marketing for Cvent said: “As demand for in-person experiences continues to rise in this new era of events, a venue’s digital assets are just as important as their physical ones. It is vital that venues continue to not only adapt their services and onsite expertise to support hybrid events, but to also put that same level of attention and care into where planners begin their planning and venue sourcing processes – which is online. The hotels and venues that can successfully showcase their properties and hybrid-ready meeting space in the digital environment will bolster their appeal to attract more MICE business in 2022.”


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