Could Theresa May's appointment steady the industry?

AssociationGovernment
Team-work-NEW-resized.jpg

In this unprecedented period of uncertainty that has seen numerous government ministers resign, the appointment of Theresa May as PM could steady the industry, says the Meetings Industry Association (MIA).

 

After a chaotic few weeks following the UK’s vote to leave the EU, the events industry is still up in the air as to what Brexit could mean for business.

 

After Brexit-driven enquiries decline and recruitment freezes, MIA’s chief executive Jane Longhurst believes the economic outlook will not only steady, but confidence will return.

 

Following the Brexit vote, 92 per cent of MIA members said enquiries have either stood still or declined and only eight per cent have witnessed an increase.

 

More than two-thirds of respondents (68 per cent) felt there will be a slowdown in capital investment by corporates and overseas investors and have starting implementing a range of diversification and cost-savings strategies to soften the impact.

One in five (20 per cent) have ceased both project capital expenditure and stopped recruitment as part of their cost-saving measures.

Jane Longhurst, chief executive of the mia, says:

 

“We know from our own EU debate in May that the majority of the sector were voting to remain in the European Union so were shocked by the eventual outcome. Talking to our members there is currently a real sense of low confidence – particularly because no contingency plans were put in place for a leave result. Hopefully now Theresa May’s appointment will have a steadying effect and the markets will improve.

“However, as an industry I think in the short-term we will continue to experience a period of uncertainty with businesses being nervous. Yet, the exit is expected to take two years plus and we are in real danger of talking ourselves into another recession. Instead we need to be championing greater incentives for international corporations to hold meetings and conferences in the UK and wider initiatives to ensure freedom of movement and trade within the European Union remains.

“The mia is immediately increasing its range of events and business initiatives to ensure all members are best equipped to maximise business opportunities and minimise the potential impact of BREXIT.”

 

 

What do you think #eventprofs? Email abyrne@mashmedia.net with your thoughts.

 

Annie Byrne
Posted by Annie Byrne
PopularComments
Twitter Facebook Google+ LinkedIn

Related Stories

Chefs compete at inaugural European Pizza and Pasta Show

The European Pizza and Pasta Show (EPPS) is set to debut at Olympia London in November, attracting the best of the European food and beverage industry.

Exhibition Centre Liverpool celebrates one-year anniversary

With more than 113,000 visitors in attendance at 100 exhibitions, Exhibition Centre Liverpool is celebrating its one year anniversary, since it opened its doors.

AEV publishes Summer 2016 edition of the eGuide

The Association of Event Venues (AEV) has announced the publication of the Summer 2016 edition of the eGuide, which identifies and conveys the best advice, guidance and regulations pertaining to working at UK venues.

Others on EN

Opportunity knocks

Opportunity knocks

Paul Byrom, AEO chairman and MD at Upper Street Events on the formation and goals of the new AEO Development Board
The height of safe practice

The height of safe practice

Andrew Harrison, ESSA director on continuing to build a robust, safety-first, working culture in events and exhibitions.
All part of the plan

All part of the plan

Kevin Horler, project director of Vividfish Ltd, on the importance of creating an inbound marketing strategy for your next exhibition.

WATCH THE EN AWARDS 2016 HIGHLIGHTS


silverstream.tv

Most Read Stories

Lourda Derry: Making the connection

Lourda Derry: Making the connection

Lourda Derry, director of Easyfairs UK addresses the science behind operations and the profile of our audiences.
Steve Monnington: The Dealmaker in March

Steve Monnington: The Dealmaker in March

Steve Monnington of Mayfield Media Strategies, runs the rule over the latest global exhibition deals.
Helen Lowe: Marketing déjà vu

Helen Lowe: Marketing déjà vu

Helen Lowe, events and marketing manager at Europa International, talks about the importance of keeping up with the creativity amidst the chaos.

Latest News

EN spotlights #eventtech start-ups with new competition

EN spotlights #eventtech start-ups with new competition

EN has teamed up with Event Tech Lab and EventTech 17 to launch a competition to help #eventtech start-ups get more exposure in the events industry.
Reed acquires Imbibe Media

Reed acquires Imbibe Media

Reed Exhibitions has announced that it has acquired Imbibe Media, the company behind B2B drinks industry show Imbibe Live.
Celtic Manor convention centre construction to commence in February

Celtic Manor convention centre construction to commence in February

Construction of the International Convention Centre at the Celtic Manor Resort near Newport is to get under way next February, according to chief executive of the Celtic Manor Ian Edwards.

Latest Features

New kid on the block

New kid on the block

Stuart Johnston discovers the world of exhibitions in his new Ascential role.
The big picture

The big picture

Imagine you could find all the photos taken at your event...well now you can, says Gaggletag founder Gideon Summerfield.
The talent of a nation

The talent of a nation

Following the launch of Connect16 this year, EN catches up with founder Nicola McGrane on experiencing the essence of Ireland.

Latest Galleries

ESSA 2016 Conference of Things

ESSA 2016 Conference of Things

This year’s ESSA Conference achieved a record attendance of delegates from across the events supplier industry, representing over 100 companies at Ricoh Arena, on 24 November.
The Prosthetics Event 2016

The Prosthetics Event 2016

Exhibition, education and shopping show The Prosthetics Event, returned to Conference Aston in Birmingham for the third consecutive year on 19 November.
World Travel Market London 2016

World Travel Market London 2016

World Travel Market (WTM) London 2016, which took place on 7-9 November at ExCeL London, celebrated its most successful show yet with a joint record attendance of 51,500.