What is the current state of the event market in Barcelona ?
The event industry market, at the moment has been nearly at its peak and is still growing of +6% but has a threat of decreasing between 2019 and 2020 year. For the majority of event agencies (84%) social and political uncertainty is the main risk for this year due to electoral spring in Spain, transport strikes, demonstrations... When it comes to Business, Event companies have less margin when signing a contract with a client as suppliers are requesting a bigger piece of the pie, the increase is approximately of 5%.
Clients ask for a smaller budget however event agencies are increasing slightly their price because events have more features than before such as Venues are more spectacular, the technological wave is also impacting event planning which is exciting news but means more investment. In general, the amount of supplies are growing, hence it is more expensive. Now that we have a perspective on the market, we will see why these trends will improve drastically your next event.
5 Top Trends in MICE & DMC Events in 2019 1) Micro segmentation : Segmenting and hyper-targeting events to very specific audiences is another trend that we will be observing. Smaller events are offered but very tailored to the corporate goal of the event.
2) Using the event as a content generator : As we all know, in modern times, social media and internet take a big part of our daily life. More and more companies are investing time and money into digitalisation. Creating a hashtag at your event is a good tactic to spread the word on social media, your guests will share it with their network.
3) Innovating formats : Using event gamification can boost the energy of the attendees; solving riddles in an escape room has golden benefits such as :
Higher attendee's engagement
Activating a sense of common purpose
Creating a positive environment
Easy communication
Trust and collaboration
Get the guests to download an event app to see some virtual reality, it adds a new layer of perspective to the event. It can be very useful for demo products or services, virtual tours , training...
4) Sustainability & wellness: Nowadays, people are trying to go back to the basics of life by eating healthier, spending more time in nature and exercising. Event agencies have noticed this movement and are focusing on outside activities. Some companies are even organising activities where colleagues put their phones away and spend time in the countryside.
5) Personalisation & technology : In the near future, we're going to see a continued trend of bringing people closer together at events through a more personalised experience. If you even look at the way that people are moving away from social media platforms to more personalised interactions.
As a summary, Events should be tailored and have smaller groups to prioritise productivity & problem solving. Technology and Gamification gives another outlook to the event allowing the guests to have a real experience. Moreover, these trends will see a shift in personalisation to meet the changing appetites of attendees.
Comments