In 2022, survey of Eastside Rooms’ cost of living shows 83% rise

Wednesday, November 15, 2023

The Eastside Rooms’ cost of living impact review report shows that 83% of organizers in 2022 witnessed a rise in event cost. In exchange for that, corporates, and associations/not for profits organizations have needed to look for various ways to bring stability in budget, from reduced catering and AV to upsurges in registrations fees.

The Eastside Rooms, an important, contemporary venue located in the heart of England, in October carried on a survey of around 125 event professionals worldwide to recognize the tough things as well as the opportunities experienced because of financial challenges.

In general, 83% of respondents have witnessed a growth in event costs in 2022 with 45% mentioning it as crucial. When fragmented properly, associations/not for profit organization are feeling the bite more meaningfully, with 88% of them witnessing a rise versus 73% of corporates.

The two different sides of the industry are trying to alleviate the economic toughness. 51% of associations/not for profits are plummeting their catering costs at their events. This compares to just 25% of the corporates, who understands the major opportunity to save as a decrease in delegate numbers – 28%.

Yet another major difference between the two sides of the market are changes in the cost of AV/production.

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