Event budgets see 5.7% increases in Q1

Event budgets sees a 10th successive quarter of upward growth.

21 April 2015
A report published last week by the IPA has found that event budgets have grown 5.7% in Q1, signalling a 10th successive upward quarter for the events industry.

The report found that marketing budgets as a whole have risen at an accelerated pace.

Over 27% of the companies in the survey panel reported an upward revision to their event budgets during Q1 2015, compared to around 15% that signalled a fall.

The latest data also marks the final quarterly reading for the 2014/15 budget year, and with upward revisions to budgets happening throughout the whole time period, overall growth for the year was the best recorded since 2004/05.

The report indicated that event professionals have confidence for the future and predict that event funds will grow for a third consecutive year.

Paul Bainsfair, IPA director general, said: "With over 10 successive quarters of growth in events budgets and the best budget year for marketing spend in a decade, this latest Bellwether provides welcome evidence of the extent to which clients recognise and value the significant contribution marketing communications makes to their business success.”
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