Home Coronavirus Updates 45% of organisers believe they have lost 61%-100% of revenue

45% of organisers believe they have lost 61%-100% of revenue

by Saul Leese

New employer research has revealed that 45% of organisers believe they have lost between 61%-100% of revenue due to Covid-19,  according to a new employer survey by ESP Recruitment in association with EN and sister publication Conference News.

The new study carried out over the past two weeks has also revealed that 59% of venues have seen a sharp drop in revenue by between 61%-100%. Event services have also been affected the most by the outbreak with 70% reporting a fall in revenue of between 61%-100%.

38.4% of employers also reported that they would rather their staff continue to work from home after lockdown to avoid using public transport.

55% of organisers have turned to digital platforms to connect with their customers through virtual events, webinars and online networking but alarmingly 45% of organisers have not created any digital events.

EN can also reveal that 75% of venue bosses are still being paid their full salaries compared to just 36% of senior organiser staff, and 34.5% of event services have cut their salaries by 60% or more.

Both organisers and venues agree that the exhibition industry will take a long time to recover at 33% and 30% respectively.

Liz Sinclair, director at ESP Recruitment, and who collated the results, noted her shock at the figures. She said: “In 20 years of running ESP Recruitment and during the time I worked in events, I have never seen stats like these before, even during the recession. It is very hard to see a whole industry put on hold without a date to resume.

“There is always discussion about the hospitality industry by the government, but the events industry is never mentioned, when its revenue is around £70bn according to the Business Visits and Events Partnership] and employs over half a million event professionals.

“It is time for the government to make some decisions, so that we as an industry can start doing what we do best, planning.”

 

 

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