inVOYAGE survey results revealed
Luxury event professionals remain optimistic that live events will return in 2021 despite the ongoing Covid-19 restrictions, with sustainability, smaller group sizes and local events expected to be among the key trends, according to our recent survey.
We surveyed almost 80 event professionals from the inVOYAGE global community of event planners and suppliers, and 25% said they expect to deliver/host their first face-to-face domestic event in the first quarter of 2021, rising to 69% in Q2 and 95% by Q3 with the final 5% predicting Q4 for their first events.
International events are expected to come back more gradually, with just 6% expecting to deliver their first face-to-face event with an international audience in the first quarter of this year, rising to 37% in Q2 and 72% in Q3 with 94% in Q4, while 6% said they don’t expect international events to return till 2022.
The majority (78%) of those surveyed said they have adapted to offer virtual and hybrid event solutions during the pandemic, but 59% still expect to deliver more face-to-face events than virtual in 2021.
However budgets are expected to be tight for luxury events and incentives when they do return. More than half (54%) of respondents predict budgets will decrease this year, whilst a healthy 46% expect budgets to stay the same or increase.
When asked about key challenges, responses were mixed but many cited the continued uncertainty and changing government and travel restrictions, which in turn is resulting in postponements, low client confidence in face-to-face events and making it incredibly difficult to plan ahead.
Trends expected to emerge post-pandemic include smaller events (14%), sustainability and CSR (14%), localised events (7%), individual incentive trips (7%), hybrid growth (7%) and health and safety (7%).
The survey was carried out from 2 December 2020 till 6 January 2021, with 78 respondents taking part including event agencies, hotel/venue representatives, DMCs, tourist boards and corporate planners.
The majority were based across Europe (50%), with 22% based in the UK, 10% North America and the rest from the Middle East, Africa, Asia and Latin America.