Skip to content
  Tuesday 30 May 2023
Latest
16 May 2023Hilton Birmingham Metropole Launches Employment Initiative 16 May 2023Top Tech 10 May 2023Swans Events to Produce Food Festival 5 May 2023Shining Sheffield 3 May 2023Leeding the Way 2 May 2023Cloth Hall Court to Host CHS Leeds Reception 1 May 2023R&B Group Thriving Post-Pandemic 28 April 2023All Things Equal 26 April 2023Facts & Figures 24 April 2023Beam Appoints a New Marketing Director
HEN logo
  • Home
  • About
  • Magazine Issues
  • Content
    • Features
    • Industry News
    • Blog
    • Interviews
  • Competitions
  • Resources
    • Event Organisers & Suppliers
    • Team Building Resources
    • Expert Opinion on Venues
  • Featured Businesses
  • Advertise
  • Contact
HEN logo
HEN logo
  • Home
  • About
  • Magazine Issues
  • Content
    • Features
    • Industry News
    • Blog
    • Interviews
  • Competitions
  • Resources
    • Event Organisers & Suppliers
    • Team Building Resources
    • Expert Opinion on Venues
  • Featured Businesses
  • Advertise
  • Contact
HEN logo
  Blog  Latest mia research reveals the true cost of COVID-19 on the sector.
Blog

Latest mia research reveals the true cost of COVID-19 on the sector.

HENHEN—20 August 20200
FacebookTwitterPinterestLinkedInTumblrRedditVKWhatsAppEmail

Latest mia research reveals the true cost of COVID-19 on the sector

The Meetings Industry Association’s (mia) latest research reveals the business meeting and events sector has been decimated by the impacts of COVID-19 and is urgently calling on government intervention.

Compiled following its most recent insight request from the UK government’s Department for Digital, Culture, Media & Sport (DCMS), the research details the huge financial losses, which are largely uncovered by insurance, that have been endured by the industry.

Over a third of the 197 responding venues (34%) are reporting values between £1,000,000 and £5,000,000 for lost business as a result of COVID-19, with the average venue reporting this figure at £2,398,600.

Scaling this surveys’ findings to reflect the 700,000 employed within the industry, the trade association estimates there has been 126,000 total job losses to date, with catering, front-of-house and events/account managers being the roles most severely affected.

And the impact has gone much further than just the venues. Almost half (47%) have had to reduce, or request more flexible terms with their suppliers, while 7% are having to already source new ones because their regular pre-COVID-19 suppliers are no longer in operation.

Jane Longhurst, chief executive of the mia, says: “Despite events now being permitted for up to 30 people in COVID-secure venues, the industry is yet to see the green shoots of recovery.”

Both short- and long-term business enquiries continue to remain well below pre-COVID levels. A decline in consumer confidence has seen a decrease in Q3 2020 enquiries for 97% of venues compared to the previous year. On average, enquiries have decreased by a significant 78%, with 94% of venues also seeing a similar decline in Q4 2020, averaging a 75% decrease.

And, with quarantine measures in place that are subject to continual change, it is unsurprising that very few international enquiries are being reported.

While business meetings of up to 30 are permitted, the majority of venues currently remain closed. Most are planning to reopen in late Q3 and Q4 – with just 15% opting to wait until 2021. Yet, the sector is ready and feeling confident that having meticulously planned, it can reopen and operate safely to support the economy.

More stories

As the UK Heads Into a Second Lockdown, Where Does That Leave Us?

2 November 2020

Latest mia research reveals the true cost of COVID-19 on the sector.

20 August 2020

The Psychology of Wearing Masks.

9 September 2020

The findings show how the sector has quickly responded by adapting its offering – achieving accreditations and investing a median of £7,500 in safety measures that largely go above and beyond the government’s requirements – to ensure venues are COVID-secure.

“But we can’t do this alone,” says Longhurst. “To ensure the sector is able to survive and facilitate the £165billion of trade that takes place through business events, we need further support.”

She added: “As the furlough scheme comes to an end before many venues are able to reopen in October, and the sector estimates that it could take at least 12-18 months, if not longer, for it to recover to pre-COVID levels, government intervention is urgently required.

“Without an extension or a bespoke furlough scheme carrying through into 2021, job losses will continue. The research clearly indicates that almost a third (31%) state 0-5% of those currently on furlough will be made redundant if the scheme isn’t extended, so an average of 38% employees are expected to lose their jobs come the end of October. Scaling this up to the 700,000 employees within the industry, 266,000 job losses are forecast.

“With government intervention, including the extension of the furlough scheme and other support, 75% of venues indicate that this figure would be drastically reduced, with 140,000 jobs across the industry expected to be saved. The government therefore has a simple choice, to save jobs by offering an extension, or fund those individuals through benefits.”

To download a copy of the mia’s latest research that has been presented to DCMS to inform their recommendations to the Treasury, visit https://www.mia-uk.org/COVID-19-Recent-Industry-Findings.

 

NOTES TO EDITOR

About the mia

The mia is one of the fastest growing associations in the conference, meetings and events sector, founded by a proactive group of hotel and conference centre operators and booking agents to lead the conference, meetings and events industry, providing accreditation, industry awards, research and a voice to government. It has over 800 accredited members.

 

The mia supports members by:

  • Providing extensive regional networking opportunities on a monthly basis.
  • Helping them to achieve the highest standards of facilities and service through achievement of AIM Secure, the new enhanced industry standard of quality and excellence.
  • Providing a library of best practice and quality standards guidelines.
  • Promoting AIM Secure to industry buyers.
  • Delivering tangible benefits which support members in the achievement of their own business goals.
  • By the provision of information, education, research and advice all of which lead to improved business performance.
  • By sharing issues of sector importance with them.
  • By raising the profile of business tourism with government.

 

www.mia-uk.org

CovidMia
FacebookTwitterPinterestLinkedInTumblrRedditVKWhatsAppEmail

HEN

Are Hybrid Events the Future?
Has Eat Out helped out?
Related posts
  • Related posts
  • More from author
Blog

Annual Report Reveals Trends

22 November 20220
Blog

Travelling Back

22 November 20220
Blog

Historic Value

18 August 20220
Load more
Read also
News

Hilton Birmingham Metropole Launches Employment Initiative

16 May 20230
Features

Top Tech

16 May 20230
H&E North Meets

Know Your Audience

15 May 20230
News

Swans Events to Produce Food Festival

10 May 20230
Featured Businesses

Century Tours

9 May 20230
Features

Shining Sheffield

5 May 20230
Load more
Recent Posts
  • Hilton Birmingham Metropole Launches Employment Initiative
  • Top Tech
  • Know Your Audience
  • Swans Events to Produce Food Festival
  • Century Tours
    Hospitality and Events North
    Hospitality & Events North has become the leading media for the MICE and events industry since its launch in 2006. We are a bi-monthly, glossy A4 magazine, covering all of the latest industry news and views. Each issue is packed full of interviews, features and competitions tailored to our readers’ interests.

    # TRENDING

    EventsVenuesEvents industryHospitalityCOVID-19Virtual EventsCoronavirusSustainabilityCOVIDTeam BuildingYorkshireHotelsLockdownHybrid eventsNewsLeedsInterviewEvent TechEvents newsConferences
    © Copyright JLife Ltd 2023, All Rights Reserved
    • Privacy Policy
    • Terms and Conditions