Tuesday 5 December 2023

Cvent captures trends in events industry in new report

Why in-person events are rising in MEA, Cvent finds

DUBAI, October 2, 2023

Despite rising costs and inflation, 76% of event professionals plan to increase their total volume of events in 2023, highlighting the critical importance of face-to-face experiences to drive business, a report has revealed.

Cvent Event Industry Report 2023 – MEA Edition by Cvent, an industry-leading meetings, events and hospitality technology provider, aims to provide event professionals with insights into the latest trends that can help them navigate the changing event landscape and make informed decisions, while discovering opportunities to offer more engaging and impactful experiences to their target audiences.

The report highlights a rise in hybrid events by 60% closely followed by in-person events at 56%, webinars at 53% and virtual events at 44% respectively as event planners get ready to increase events across all these event formats, indicating that these formats are here to stay as part of more strategic event programs.

The report indicates that 75% of respondents plan to increase their total events budget this year. While cost control remains the top priority, organisations are willing to spend wisely to best capitalise on the powerful role events play in bringing people together to build community and drive business growth.

Despite budget constraints, the report’s findings indicate that organisations are willing to spend more in key areas, with event technology and onsite experience topping the priority list, followed by doing more events. 

Given brand awareness, revenue and cost containment are the top factors governing in-person and hybrid events, it makes sense that event organisers are looking to leverage technology that can help them streamline processes, engage attendees and amplify their event marketing efforts. 

In addition, sustainability continues to remain in focus with 87% of respondents claiming to have a sustainability target for their events and 87% willing to track event/attendee carbon footprint to become more sustainable.

Gokul Bajaj, Cvent Director, Sales & GM – India, Middle East & Africa, "Events have always been a vital tool in building communities and driving business growth. With the emerging trends in the events industry and the impact they have on event planners, marketers, and other decision-makers, it is critical for event tech providers to demonstrate reliability, exceptional customer experience, and support for all event formats.

“In the MEA region, the industry is witnessing a rise in in-person events, but hybrid events continue to dominate. Despite constrained budgets and uncertain markets, organisations are still willing to invest in events indicating a bright future for the industry and more opportunities for event planners. In this crucial moment, the Cvent Event Industry Report MEA edition offers valuable insights into the latest industry trends and developments." – TradeArabia News Service




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