The Business Events Council of Australia has revealed the findings of its latest snapshot of the health of the business events sector.
Unsurprisingly, the number one barrier being faced by both owners and organisers of business events in 2021 is uncertainty regarding future coronavirus outbreaks and the corresponding tightening of travel and gathering restrictions.
This is closely followed by financial risk which is translating into Boards being hesitant to commit to holding a business event.
Almost two in three (62%) business events by organisers and one in three (30%) business events of owners have already cancelled, postponed or moved to 100 per cent virtual for the first quarter of 2021.
More than half (57%) business events of organisers and a quarter (25%) of business events of owners have already cancelled, postponed or moved to 100 per cent virtual for the first half of 2021.
Of the domestic multi-day business events still tentatively scheduled for 2021, the confidence that they will continue in-person is still bruised, with roughly four out 10 events likely to cancel or postpone in the first half of 2021.
In the second half of next year, organisers expect around half of events are likely to be 100 per cent in-person while owners expect 43 per cent of business events likely to be hybrid.