IntroductionBudget Cuts a Reality
Has your event budget been reducedduring the last 2-3 years?
In this survey, Azavista sought toidentify the severity of the budge-tary and other problems event plan-ners face, as well as the correllationbetween these challenges and themeasurement of Event Return on In-vestment (ROI). Is measuring EventROI a common practice? Is it seen asa solution? Azavista surveyed, 400event planners from agencies andenterprises around the world.Is measuring Event ROI a commonpractice? Is it seen as a solution to safe-guard declining event budgets?2013 brought a feeling of opti-mism back to the meetings andevents industry as companies be-gan to grow their programs againand bring back events that wereput on hold during the recession. This trend nevertheless is identi-ed only in some markets, conr-ming an ‘asymmetrical recovery’ of regional economies. The current and projected situationof the meetings, events and businesstravel sectors largely reects the evo-lution of the global nancial state, withthe greatest growth being found inthose countries that are experiencingthe highest levels of economic deve-lopment. However, taken globally, theavailable evidence points to a convic-tion on the part of the market that thepath to recovery, however asymmetri-cal, will continue to be followed in theyear ahead.
Source: Event Management: Budgetary Challenges and Event ROI, June 2013
Event planners around the globeare facing the repercussions of thecurrent economic situation. Thiswas conrmed in the Azavista sur-vey, with almost 60% of respon-dents stating that their budgetshave been reduced during the last2-3 years. The majority of these res-pondents also claimed that the cutssurpassed 20% of their initial bud-get. The budgetary challenges plan-ners face are highlighted even morein the survey, where over 1/3 of res-pondents stated that they organize20+ events a year and almost 70%does this in house.