Lab Event presents the results of a study conducted in June 2022 on the recovery of the events sector following the crisis period of covid-19. This study aims to provide all event industry professionals with concrete answers and figures on their activity.
The gradual re-launch of the event business was an opportunity to measure changes over the periods from March to May 2022 compared to the same periods in 2019. Also described here are forecasts made for the June 2022 period compared to June 2019 as well as forecasts for the second half of 2022 compared to the same period in 2019.
This study identifies and summarizes the post-covid period from two main angles: the need for recruitment and the evolution of turnover.
The highlights can be summarized as follows:
A sector with a strong need for recruitment
Of the total panel (146 respondents*), 55% said they plan to recruit in the coming months, 30% said they do not want to recruit and 15% did not take a position.
This recruitment need is even higher among event agencies and reception venues, which represent two thirds of the total panel in this survey, with 68% of event agencies expressing this need and 63% of reception venues. Among the 55% of players who said they want to recruit, more than half of them (54%) plan to hire more than 6 employees.
Of the 79 companies that expressed a need to recruit, there is a need for approximately 640 positions to be filled.
If we extrapolate this result to the panel, the sector needs to recruit approximately 4 positions per company, all types of activity included. ( a potential of 64,000 jobs to be filled in the sector which includes 16,000 companies)
These results show that the events sector has a strong need for recruitment in the coming months.
A significant increase in revenues
Of the total panel (146 respondents), 83% of respondents reported their annual sales, 13% of respondents did not wish to respond, and 3% reported that their company did not exist prior to the covid.
Of the 83% of respondents, 45% of respondents saw an improvement in sales in March 2022 compared to the same period in 2019, 52% saw an improvement in sales in April 2022 compared to the same period in 2019, 63% saw an improvement in sales in May 2022 compared to the same period in 2019, and 64% expected an improvement in sales in June 2022 compared to the same period in 2019. When it comes to revenue expectations for the second half of the year, 60% predicted an increase in revenue over the second half of 2019.
However, there is some caution regarding the second half of the year with nearly 20% of respondents anticipating a loss of revenue compared to the second half of 2019.
The full results of this study on the revival of the events sector are available in the appendix.
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