85 Percent of Exhibitors Experiencing Cost Issues in Q1 2023

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Exhibitors are experiencing financial constraints, as 85 percent of exhibitors in the first quarter of 2023 are choosing their exhibition locations based on cost. Moreover, three-quarters of exhibitors feel the need to reduce expenses related to exhibits.

This market information, obtained from Explori, a market research platform, was shared during a Hire Space event in London.

The Events Outlook event brought together over 40 senior event professionals and heads for a panel discussion and networking session at Convene, 22 Bishopsgate, on May 3rd. The event aimed to explore ways of optimizing event programs given limited resources and rising costs.

Chloe Richardson, the Vice President of Senior Corporate Relations at Explori, expressed gratitude for the opportunity to share their latest findings with the help of Hirespace. She mentioned that Explori is fortunate to work closely with communities, associations, and networks in the events industry, enabling them to stay in touch with the sector’s pulse.

The panel consisted of Nikki Macmillan, the Head of Events at New Financial, Kate McLachlan, the Events Manager at Kennedys Law, and Craig Bennet, the General Manager at Convene, 22 Bishopsgate. The moderation was done by Eliot Sargeant, the Head of Business Development at Hire Space.

This event was organized in connection with Hire Space’s Hire Space 360 service, which provides streamlined event support to corporate event planners. The company has witnessed a 115 percent year-on-year increase in the adoption of Hire Space 360 since the pandemic, as the demand for events rises and already-burdened teams face higher expectations.

Edward Poland, the co-founder of Hire Space, acknowledged the significant pressure on event planners and highlighted the value of services like Hire Space 360 in providing assistance with event programs, ensuring timely and cost-effective event delivery. The aim is to alleviate the workload of event professionals in areas such as venue and supplier selection, contract management, and onboarding, allowing them to focus on creating truly exciting and engaging events.

For more information on the Events Outlook, click here

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For 20+ years, the MEET family of products have provided regional and national resources that have kept corporate, association, medical, education, independent, and religious meeting and event planners informed about relevant vendors, industry news, tech innovations, and resources that impact and influence how and where they plan their group business.

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