The Business of Events (TBOE) has published its Events Economy Tracker for Q3 2024, which shows that revenue per delegate has reached an all-time high.
Complied in association with Venue Performance, the tracker analyses data from a sample of 350 UK venues and details comparative booking trends, revenue per delegate, booking lead times and delegate numbers.
For Q3 2024 revenue per delegate – including venue hire, F&B and other expenses such as AV hire – reached an all-time high of £150.01.
This is up from Q1 2024’s £114.30 and indicates a strong end to the year, reflecting improved market conditions.
Lead times for event bookings remain stable, averaging 87.26 days, an increase from 78 days in Q1 2024.
Average delegate attendance in the quarter was 57.59, up from 51 in Q1 2024.
Peter Heath, Managing Director of Venue Performance, said: “Sales and events are steady for July to August and show resilience in the sector. Looking further out from the beginning of 2024 and even further out from 2023, the general trend is up, signalling a positive end to the year.”
Natalia Hartmann, Product Marketing Manager at IBTM World, a TBOE partner, said: “Events have been resilient in the early part of the year and we’re now seeing the hand-break come off and confidence soar.
“Smaller events are a trend that will continue into 2025, but it is likely to mean more of them with more focused agendas. That’s good for the business of venues and signals a strong end to the year.”
