Cvent has released its Cvent Event Industry Report 2023 – Australia Edition. The report aims to provide event professionals with insights into the latest trends that can help them navigate the changing event landscape and make informed decisions, while discovering opportunities to offer more engaging and impactful experiences to their target audiences.
The report shows that even though in-person events are on the rise (58% of respondents will host most in-person events this year), there is also continued positive sentiment when it comes to virtual events, webinars, and hybrid events (67%, 55% and 52% of respondents respectively, plan to increase the number of these event formats), confirming that these formats are here to stay as part of more strategic event programs.
The report shows 76% of respondents have plans to increase their total volume of events in 2023 and 75% expect event spend to rise in accordance. While cost control remains the top priority, organisations are willing to spend wisely to best capitalise on the powerful role events play in bringing people together to build community and drive business growth.
Despite budget constraints, report findings indicate that organisations are willing to spend more in key areas, with event technology topping the priority list, followed by more events and event promotion. Given brand awareness, attendee satisfaction and efficiency are the top factors governing in-person and hybrid events, it makes sense that event organisers are looking to leverage technology that can help them streamline processes, engage attendees and amplify their event marketing efforts.
In addition, sustainability continues to remain in focus with 83% of respondents claiming to have a sustainability target for their events and 75% willing to track event/attendee carbon footprint to become more sustainable.
Sandeep Nagpal, Cvent Vice President of Marketing, said: “The meetings and events industry has changed drastically over the last three years, and in this new, more dynamic landscape, the pressure is on for event organisers and marketers to stay ahead of trends and maximise the impact of their events. This report provides a critical analysis of key trends – such as rising costs, multi-format event programs, and event technology – enabling industry professionals to stay informed and agile in their approach and deliver exceptional experiences that deliver clear ROI. We’re proud to share these insights and to help event organisers capitalise on the power of live events.”
About the Study
Cvent commissioned Censuswide, an independent research company, to survey over 100 event planners and marketers in Australia. This survey was conducted between 5 April 2023 and 14 April 2023.
To view the full report, click here.