Confidence in UK business meetings and events is high, with 61% of businesses forecasting higher revenue this year according to the Meetings Industry Association (MIA).
Surveying 140 event venues, suppliers, agents and destinations, the quarterly benchmarking report reveals that, on average, almost half (41%) of forecasted revenue for 2025 is already confirmed.
Despite marking a 10% drop from last year, there is optimism amongst the sector that a steady flow of enquiries will support these revenue forecasts. This includes contributions from international events, which currently account for an average 12% of forecasted revenue in 2025.
While businesses focus on securing revenue, they continue to grapple with recruitment challenges. Almost half of respondents (48%) have found recruitment “somewhat challenging” over the past 12 months, with 18% describing it as “very challenging”. The biggest barriers include increased competition for candidates, a lack of recruitment resources, and high staff turnover.
Reinforcing the importance of talent retention, organisations have introduced a range of measures over the past 12 months. This includes more than half (53%) of respondents implementing improved work-life balance initiatives, while 38% have enhanced pay and benefits packages. This comes as the need for better work-life balance challenges is recognised as the primary reason employees leave, followed by insufficient pay.
Other areas explored include Instant Book, which is currently being offered by a third (33%) of venues in the UK business meetings and events sector. Elsewhere, insights on event contracts revealed that a quarter of respondents experienced significant disputes in the last 12 months, as 6 in 10 (62%) highlight the challenges of cancellation policies.
MIA chief executive, Shonali Devereaux, said: “Our latest findings highlight a sector with confidence for the year ahead, as illustrated by increasing revenue forecasts. Securing new enquiries while also recruiting and retaining talent will be critical to sustaining this, and we are committed to providing the necessary support throughout the year ahead.
“Recent research has made us acutely aware of the opportunities and challenges facing the sector, and our latest findings focus specifically on the enablers and barriers of these. In taking this approach, these insights will now be used to reinforce our member resources and wider support strategy for the year ahead, from practical guides to our extensive programme of educational events and more.”
The February 2025 MIA Insights can be downloaded here: https://mia-uk.org/Insight-Surveys
