The events industry is one of the hardest-hit by the COVID-19 pandemic. As the world moves towards recovery and vaccination, however, event planners and suppliers are becoming more optimistic about the future of the industry, albeit only marginally.

1. Fifty-Four Percent of
Event Planners Show
Optimism for 2021
Conservatory Craftsmen

2. The events industry is one of the hardest-hit by the COVID-19 pandemic. As the world moves towards
recovery and vaccination, however, event planners and suppliers are becoming more optimistic about
the future of the industry, albeit only marginally.
The Professional Convention Management Association (PCMA) conducted a survey last February 22-25,
2021, and recorded the data from 704 respondents (458 event planners and 246 suppliers). According to
the findings, 54 percent of the planners said they were “hopeful,” which is an increase from the 48
percent who said the same the previous month.
When asked if they were “anxious” about the future, 31 percent of planners said yes — a slight decrease
from 35 percent in January 2021.
Expectations of Declining Revenue
The optimism of planners did little to quell fears for the industry’s future. When asked how they think
COVID-19 would continue to impact their revenue, more than 40 percent of the respondents said they
expect their revenues to decline by 51-75 percent. An even higher number of participants said they
expect between 25-50 percent of decline in their revenues for the year.
These findings suggest that planners and suppliers are either hesitant to expect that the COVID situation
will improve soon or they simply do not know when and how fast it will change.

3. shutterstock_33016 shutter
Hybrid Events are the Future of the Industry
Despite the worries for the future, event center contractors, suppliers, and planners are now more
receptive to the idea of face-to-face events. Only 34 percent of planners are unchanged in their decision
not to travel while the pandemic is still ongoing. Moreover, 30 percent (up from 25 percent from the
previous month) of planners and 37 percent (up from 31 percent) of suppliers said they will consider
traveling and attending an event in person if they think it is worth the trouble.
This perspective is shared by many in the industry, hence the widespread belief that hybrid events will
become the norm even after the pandemic.
The EU Business School (EU) gave a similar assessment in its analysis of how the event industry is dealing
with the effects of the pandemic. As published on its website, EU says some form of the virtual event
format will persist. This is also the reason why the institution predicts that hybrid events will become
the norm post-pandemic.

4. SOURCES
• https://conservatorycraftsmen.com/commercial-structures/event-center-conservatories/
• https://www.pcma.org/wp-content/uploads/2021/03/0225-dashboard-11_p5d2_KRF-nt-
mr.pdf?utm_source=custom_redirect&utm_medium=web&utm_term=2021&utm_content=s
urvey-13&utm_campaign=covid-19
• https://www.euruni.edu/blog/event-industry-impact-covid-19/