Meetings and events industry experiencing less supply chain headaches
Two-thirds of organisations are no longer experiencing issues with their supply chain, according to the Meetings Industry Association’s (mia) latest research.
The June 2023 edition of mia Insights found that the previously well-documented supply chain issues have eased in the last three months for more than half (58%) of the 112 event venues and suppliers surveyed.
This shift follows a turbulent recovery period for the business meetings and events sector with half (51%) of organisations having changed their approach to working with suppliers since the pandemic to be more diligent and flexible with terms.
Contrast to these developments, recruitment challenges remain high on the agenda as three quarters (76%) of organisations currently look to fulfill vacancies. Concerningly, half (51%) reveal that this is due to current staff shortages, while a similar proportion (47%) highlight a skills shortage within their organisation.
The report, which also explores event enquiries and organisational costs, also highlights the ongoing threat industrial action presents to the sector, with five days of rail strikes in May and June forecasted to have cost the sector £179,665,500 in cancelled business.
Kerrin MacPhie, chief executive of the mia, said: “Despite the challenges that remain for the sector, it is positive to see supply chain issues easing for many organisations and that 70% of event professionals are feeling confident about how the sector will perform over the next 12 months.
“These findings continue to provide us with an essential snapshot of the sector’s current position, and staffing issues once again remain at the forefront for most. This ongoing surveillance is essential to help shape our support for the sector. Last week, for example, we launched our student membership in response to our recent findings, which has been developed to help inspire the next generation of event professionals and protect the sector’s future pool of available talent.
“Despite positive developments in key areas for the sector, we are acutely aware of the challenges that remain unphased, as well as the consensus from venues and suppliers that government isn’t doing enough to support the sector. It therefore remains our role to ensure that the challenges we face and the opportunities our sector presents are recognised and valued at the top-level, which is something we continue to work hard on behind the scenes to provide vital representation of all things business meetings and events.”
To read the full mia Insights report, click here.