A survey of international destination representation organisations has revealed a shared concern of being under resourced and underfunded.
The Business of Events Global Destination Report, delivered at IBTM World 2023, addresses current trends in the business events industry including funding, resourcing, subventions, advocacy, legacy and threats. The report is produced with the intention of gaining insight and sentiment from global destinations that can be used as a tool for leverage with policy makers.
Reoccurring themes throughout the report identified concerns with budgets, staffing and the lack of enthusiasm and understanding shown by governments towards legacy.
When it comes to funding, however, survey data revealed that 46 per cent of respondents have experienced budget increases, attributing to government recognition and support. However, 54 per cent stated their budgets had stagnated or reduced. Adding to reduced budgets, respondents also noted that their teams are too small to effectively fulfil the need of their destinations.
Regarding the theme of legacy, the survey showed a universal acknowledgement that legacy initiatives and positive social impacts produced from events are important, but half of respondents felt their government didn't fully appreciate the value of legacy in events.
The report also identified a unanimous concern of common threats such as climate change and sustainability, economic unrest, and geographical accessibility. However, some destinations noted that they see some threats as advantages.
Read the full report here: https://the-business-of-events.com/global-destination-report-2023/
