WINTER • SPRING 2017
BREXIT
I recently read an article that discussed the effect of Brexit on the meetings and events industry . The writer commented that , “ Uncertainty around Brexit and terrorism will see European meetings and events spend remain flat next year , according to the sixth annual global and meetings forecast from American Express Meetings & Events . A ‘ sense of caution ’ is set to contribute to a decline in the number of meetings and the number of attendees per meeting – but there will be an increase in smaller meetings .”
So I began to wonder if Brexit really had a big impact on those of us dealing with special events . Thus I did one of my informal surveys by asking people in special events the following question . “ Do you think that Brexit has effected your business and if so , how ?”
David Jamilly , a Director of Theme Traders , had this to say . “ Our sense is that the economic mood in the events industry has been somewhat unsettled since Brexit but trading has remained firm for us so far . From our perspective we have moved into a mode of consolidation as opposed to expansionary growth with a sense that there is much more yet to unfold on the global and local socioeconomic fronts . Uncertainty about currency and tariffs have affected all but the very elite although that is nothing new . There remains a constant downward pressure on corporate budgets with ever increasing expectation levels .”
This is something that I heard quite often during my research . There was often a ‘ small ’ downturn after the June result , but most companies said that the ‘ downturn ’ was brief and did not effect their bottom line .
Is there a downside ? Well yes there is . One of the major worries is the cost factor presented by Brexit . According to
Richard Groves , Group Business Development Director for Smart Group , “ More worrying are the additional costs that are expected this year , some of which are due to Brexit . Because the pound is weak , imports are more expensive with wine prices expected to rise by around £ 0.30 per bottle after in-bond UK stocks are exhausted . In addition , food and drink prices are set to rise by around 11 %. Clients are not necessarily accepting price increase in our markets , as their budgets do not reflect additional delivery costs .
Caroline Gardiner of Lucas / Gardiner , a catering company in Central London , echoes what Richard is saying . “ Where I have seen some changes is in the cost of food . For example , dairy has gone up by over 10 % and a lot of suppliers are blaming the increases on transport charges .”
There is a very real concern about budgets at this point …. both from those buying the service and those providing it . Many I spoke with said that rather then fewer events , there will be smaller events with tighter budgets .
So will Brexit effect the special events industry ? I think Robin Parker , General Manager of Church House Westminster , said it best .
“ My honest opinion is that it is simply too early to tell . The process hasn ’ t started yet , in fact the process to discuss the process hasn ’ t even started yet , so how are us mortals meant to understand what the effect is going to be on our own business .”
Mary Kay Eyerman E-mail : editor @ thedatebook . co . uk
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