A new white paper sets out to help conference organisers and host cities 'create greater mutual understanding and awareness of selected risks and risk
scenarios'.
The paper, by Copenhagen Convention Bureau, reveals that risk plays a major
role in organisational decisions for both buyers and suppliers.
While 98 per
cent of buyers responded that risk, in general, influences their organisation’s
decision to select a host destination, 100 per cent of suppliers said that risk
has at least some influence on their organisation’s decision to quote for an
event or conference.
Among the risks of concern to the buyers are travel restrictions,
destination technology infrastructure, inflexible supplier contracts, and
regional and global instability. For suppliers, risks related to client demands
for flexibility in contracts, flexibility on delegate numbers, workforce
retention and acquisition and overall budget management are prevalent.
"The radical uncertainty with shifting market trends and
changes in geopolitical, technological, and environmental conditions calls for
a movement towards a stronger risk-sharing approach as a new normal, so we can
stand as strong as possible in our business collaboration and execution," said Bettina Reventlow-Mourier, deputy-director of conventions at
Wonderful Copenhagen.
"By launching this paper, we hope to bring together the
business events community around risk. To start a broader conversation and
explore how we, together, develop a more viable model across the business
events industry."
According to Reventlow-Mourier, collaboration and
exchange of knowledge are key to understanding and minimising the risks related
to events.
"By fostering a deeper understanding of the risks and their
potential opportunities as well as threats, both buyers and suppliers can
develop and strengthen their risk management frameworks. By embracing risk
sharing and working together, we can effectively mitigate potential
disruptions, ensure business continuity, and ultimately deliver successful and
impactful events."
