“Everything is getting more expensive,” begins the Executive Summary of the latest survey on the event industry shared with us by our partner LiveCom Alliance.
Following the previous Flash Survey by their German member fwd. revealing the challenges facing the industry during its relaunch, this new study zooms in on the increased costs in our industry and the hardship it is causing. This study, conducted by RIFEL Institute, is also based on data from our European Industry Survey 2020.
“The current inflation,” the study says, “does not stop at events and trade fairs. On the contrary, the entire industry is disproportionately affected by these price increases. Depending on the event/trade fair format and size, an average of 45% more budget must be made available in 2022 than for a comparable production in 2019. Smaller event/fair projects are disproportionately affected (49% more expensive on average) compared to larger event/fair productions (41% more expensive on average) compared to 2019.”
The reasons for inflation
The impact of inflation, the report continues, plays out as follows:
View the full report here: ENG_JBE_220602_Kostenentwicklung_Event_Messe (1)