Business meetings and events organisations will only be viable for another seven and half months, according to the latest industry research by the Meetings Industry Association (mia). A study of almost 250 venues, hotels and suppliers, which has been presented to the All-Party Parliamentary Group for Events (APPG), revealed how 90% believe they cannot survive beyond the next two years without any additional Government support, after enduring average revenue losses of over £2,560,000 to date.
The association warns that even if the Government was to allow business meetings and events to proceed from April with limits to 50% of their capacity, 71% say it would take beyond 12 months to return to profitability.