The UK events industry is worth £11 billion pounds to the UK Economy according to Hiscox. With both corporate and consumer spending remaining high, the knock on effect from the ‘Credit Crunch’ is yet to be felt by the industry. However over the next 12 months we will see fixed costs go up and spending reduced across the board. According to finance experts large banks and blue-chip companies are now under increased pressure from their shareholders to reduce current spending on corporate entertainment. This downturn is highlighted by a decline in the number of organisations and independents that previously spent large amounts on corporate events now without an entertainment budget and a workforce that are dealing with an increases in the cost of living, negative equity and mass redundancies in some sectors.

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