The UK conference market is booming. That’s according to the annual UK Conference Market Survey (UKCMS) published by the Meetings industry Association (MIA).
The number of events held in the corporate sector grew by 21 per cent in 2004 while the association sector achieved a 9 per cent increase. This is the first significant growth recorded by the survey since 2000. According to the survey, 22 per cent of the association market expects to organise more events this year while the corporate sector is predicting a similar number of events to last year.
But both sectors saw a reduction in annual budgets for events. The association sector average annual budget has fallen to Ã‚Â£89,400 from Ã‚Â£108,900; the corporate sectorÃ¢Â€Â™s budget fell to an average Ã‚Â£99,700 from Ã‚Â£107,600.
According to the survey there are fewer delegates attending and events are getting shorter.