Major Corporate Events Statistics Worth Knowing Today

With the pandemic finally behind us, companies all over the world are back to organizing and sponsoring corporate events. If you are a corporate event manager or if your business is hosting an event soon, knowing major corporate event statistics can help guide you in decision-making and event planning. Whether it’s live, virtual, or hybrid corporate events, statistics give you a solid grasp of the latest trends and information to ensure that your event is impactful and relevant in today’s dynamic event scene. 

In this blog post, we bring you the major corporate events statistics worth knowing before you manage your event. Let’s start discussing. 

Major Corporate Events Statistics Worth Knowing Today 

The corporate events in 2023 have witnessed substantial development, and this trend is projected to continue in years to come. As we head further to more productive years for corporate event management, here are six major statistics that you should consider. 

1. Event Spending in the Corporate Sector is Set to Increase by 83%

According to a report based on the annual ICE Information, event spending in the corporate sector is expected to increase by 83% in 2023. In 2024, this phenomenon is set to continue as global business travel and events costs remain elevated.

There are many reasons why event costs are increasing, starting from fuel price hikes and labor shortages to economic uncertainties. If you are managing a corporate event in 2023 or 2024, it can be wise to expect added expense and set a higher budget to avoid last-minute issues. Additionally, it could be beneficial to allot more time in budget planning and keeping an eye on the latest developments in the events industry. 

If you want to stay up-to-date on the newest developments and trends in the events industry, you may check more resources in our blog here. 

2. 80% Say Their Organization Takes Sustainability Into Account When Planning Meetings and Events

Sustainability is not just a trend nowadays but rather a priority in the event management sector and other industries. As a matter of fact, 80% of organizations say that they consider sustainability in event planning. Out of this majority, 75% already have a sustainable meeting program strategy in place.

Many organizations are taking sustainability into account when planning events, and you should do so, too. As an event host or organizer, it is crucial to have specific strategies in place to support sustainability. By supporting sustainability, you don’t just help create a greener Earth but also position your brand as environmentally conscious. Some of the sustainable practices you can implement in your events include using digital event management and marketing tools, reusable event materials, and venues accessible through public transportation. 

To learn more about sustainability in events, make sure to read our post on how sustainability is shaping the future of events here.

3. 87% of Organizations or Clients Strive to Incorporate DE&I Into Their Events

Nowadays, organizations are more aware of the significant injustices in society brought about by cultural differences, skin color, backgrounds, and personal biases. To address such unfairness, the majority of corporate leaders are actively incorporating Diversity, Equity, and Inclusion (DE&I) into their overall strategies. 

Implementing DE&I is all about ensuring that everyone within an organization or event feels appreciated, empowered, and safe. There are many ways to highlight DE&I in your corporate event. These include making events more inclusive and accessible, recognizing minorities and their culture, and choosing diverse speakers. 

4. 57% of Marketers Allocated Higher Spending on Event Tech

Technology is a big word in business, and in corporate events that's no different. As a matter of fact, a 2023 report noted that 57% of marketers have decided to allocate more of their budget toward event technology. This increase in spending suggests a growing recognition of the importance of technology in successfully executing events across various industries. 

As an event manager, it is crucial to explore new technologies that can help make event planning more efficient and effective. One popular technological solution in event planning is event management software, which is designed to simplify event planning processes with advanced automation technology. You may also utilize other technology-driven event solutions such as ticketing apps, QR codes for event attendance, and online surveys. 

5. The Global Corporate Event Market Size is Projected to Reach $1.1 Trillion by 2031 

The global corporate event market is projected to grow at a CAGR of 10.5% between 2022 and 2031, reaching $1.1 trillion by the end of the forecast period. This growth of the corporate event market is attributed to several factors, including relaxed travel and visa requirements and higher investment in infrastructure. The market also benefits from the increasing use of the internet and technology and the growing demand for commercial air travel.

With the positive growth of the corporate event sector, upgrading event management services is critical to ensure long-term success in the event management industry. To upgrade your services, you can start by offering additional management services and investing in new event technology. You may also enter new markets to diversify your clients and broaden your reach. 

6. 60% of Executives Consider Events as the Most Crucial Marketing Channel for Achieving Corporate Objectives.

According to Marketsplash data, the majority, 60% to be exact, of executives believe that events can significantly contribute to reaching corporate objectives. Modern corporate leaders recognize the strategic importance of events in achieving organizational goals. By hosting or organizing events, businesses can market and promote their best-selling and new products. These events also provide opportunities to boost employee engagement as well as educate and train them. Additionally, corporate events are great for networking and building lasting relationships with clients. 

For corporate event managers, managing corporate events that achieve corporate objectives is certainly not a walk in the park, but never impossible. If you want to ensure that your event brings in positive results, enhancing event planning is the way to go. Make sure that you are allocating your resources wisely, boosting staff collaboration, and leveraging major statistics data for decision-making. 

Upgrade Your Corporate Event Management With StaffConnect

If there’s something we can conclude from the statistics we discussed above, it’s the fact that the corporate events industry is moving forward, increasing in market size and utilizing more technology. If you are managing corporate events but haven’t upgraded your processes, now is probably the best time to take action.

Introducing StaffConnect for event management. StaffConnect is an event management software designed to manage event processes from onboarding staff to executing events. It is equipped with practical event tools such as easy onboarding, calendar integration, emails, push notifications, a communications hub, a survey designer, and data collection tools. StaffConnect makes event management easier, allowing you to save time, improve your productivity, and reduce costs.

For more details about StaffConnect and its features, you may book a free demo here and experience our app first before committing to our services.