Corporate events industry 'booming'

The corporate event sector is booming, according to new research.

Figures from the Meetings Industry Association's (MIA) UK Conference Market Survey revealed that event numbers have risen dramatically since 1999.

However, the research also revealed that a rise in procurement means that budgets are being stretched.

In the past 12 months, there has been a 27 per cent rise in the number of corporate events, while the not-for-profit sector has also increased 1.4 per cent.

And people are also spending more on corporate events, with the average annual budget rising by 34 per cent

But the budget stretching has arisen due to the increased involvement of corporate purchasing or procurement departments, with 24 per cent of corporates reporting that these departments are now involved in buying decisions - up from 13 per cent a year ago.

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