Blog Post

Bounce Back 2021 for Events

Rachel Wiilliams • Dec 04, 2020

Will the Events Industry bounce back?

The hospitality sector has been most affected by the pandemic, both in the UK and overseas. Event companies, venues, hotels, restaurants, travel and similar businesses have suffered great damage. The impact on the events industry was almost instantaneous. 

Back in March when restrictions were placed on face-face gatherings in the UK, events stopped and revenues literally evaporated. Event companies, event venues and their supply chains have been devastated and many face further struggles. Unlike some other areas of the hospitality sector which were able to return to some form of trading in July, the events industry was given a restart date of October 1st and even that came with further restrictions amidst fear of a second wave of COVID-19 infections.

As business dries up, the unemployment rate is rising especially in the hospitality sector. The latest official figures show that the UK unemployment rate rose to 4.8% in the three months to September, up from 4.1% in the previous quarter. And the unemployment rate among 16 to 24-year-olds, who make up much of the staff across restaurants, bars and hotels, is now 14.6%, also according to official data.

It all looks bleak and one burning question in the minds of many events professional is, will the events industry bounce back? Despite the gloom, I have been encouraged by the strength and resilience of the events industry over the past years. Having worked in events industry through the global financial crisis, the SARS outbreak and 9/11, I have great positivity from my first-hand experience of how the industry recovered from these events and I have strong confidence that we will bounce back. Admittedly, what is happening right now as a result of COVID-19 seems to be more serious, the prospect of ground-breaking vaccines on the horizon, infection rates decreasing and industry-specific measures are beginning to help build confidence in the industry.

Moving forward isn’t going to be easy and there are many challenges to overcome. But that real sense of purpose and pride in what we do, the creative integrity and drive for excellence that we have, will help us bounce. Of course, it’s not going to be flipping the switch on 1st of January 2021 and everything goes back to normal. Events are going to look different in the interim with a lot of adjustments and continued changes to operating models until the world beats this virus. 

Event planners and venue providers who are creative are taking the lead to show how resilient our industry is by offering solutions to restore industry confidence. Virtual, Physical and Hybrid events are taking place. In England, as we begin to emerge from lockdown to a tier system, new Government guidance from 2nd of December allows for certain types of larger face-face events to take place. This is good news, and even better news is the approval of a vaccine in the UK and the prospect of its rollout starting this year.

The events industry is worth £70 billion annually to the UK comprising conferences, exhibitions, weddings, arts and culture, festivals and shows, music and sporting events. Events and hospitality professionals alike all want to see this great industry bounce back stronger than before.

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With in-person events temporarily suspended due to lockdown and restrictions, events moved online and virtual events became the primary event hosting model in 2020. The discovery of vaccines have been a game changer and we are all hopeful that in-person events will return soon. Here in the UK, the government announced a roadmap out of lockdown which could see the gradual reopening of hospitality venues and the return of in-person events this summer. This is subject to a review of data against the government’s four tests . The roadmap shows some large and controlled events of up to 1,000 people or 50% of capacity including conferences and sports events being allowed to open from the 17th of May . In addition, legal limits on social contacts and live events could be removed from the 21st of June . Whilst the biggest vaccination programme is now underway across the globe, countries are adopting different strategies and they are at different stages in their battle against coronavirus. You can see how different countries are tracking and handling the pandemic here - COVID-19 around the world . This has an impact on how soon international events will return. Thankfully, virtual events continue to provide event organisers with unlimited global potential. Virtual events can be just as effective as in-person event. They are similar to in-person events, the difference is that they are hosted over the internet rather than a single location or venue where attendees are physically present. If you are still wondering whether to make the leap from in-person events to virtual, we have outlined below five key benefits of running your events online. 1. Cost-efficient Without the need for extras associated with in-person events, example – accommodation, travel, catering, logistics and transporting materials to event venues, the cost of hosting and attending virtual events could be considerably lower. 2. Flexibility and Variable It’s not a decision any event organiser would make lightly but sometimes events have to be cancelled or postponed due to an emergency. The global pandemic is a recent example of an emergency beyond the control of any event organiser. The stress, time and energy required to replan an in-person event can be huge. Virtual events are much easier to replan and replicate. The flexible nature and clever use of technology allows you to set up a similar online event in a matter of weeks. 3. Making Global Connections The global reach of virtual events and the effective use of technology means you are able to reach an unlimited audience regardless of where they are in the world. Last autumn, one client’s event attendance almost tripled in size from 128 to 380 attendees when their in-person event changed to virtual. Of course, the social contact and connection experienced from meeting people in-person cannot be overlooked. But virtual events make it easier for your event attendees to connect with a global network of people. 4. Sustainability Virtual events can help people attend your event without the long travel distance and cost to be there in person. Hosting events online also reduces and removes a lot of the waste created when hosting in-person events, particularly with food and beverage and rubbish from set up or breakdown after the event. 5. Data Data is the new gold and technology is putting a lot of data directly into our hands. Whilst ensuring adherence to data protection regulations, you can gather valuable event data and leverage information which provides insights that help you make informed decisions. This reduces the risk that comes with trial and error testing methods on your event. Using the right virtual event platform and event management software you can harness data points throughout your event process, from online registration, to in-event activities, attendance tracking and post-event feedback. We hope that highlighting some of these benefits helps you take that confident step towards hosting your next virtual event. Planning a virtual event? Let us help you do the hardwork. Make an enquiry HERE .
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