It’s The Economy Stupid
I could break into a chorus of “The Way We Were,” but anyone analyzing the cost of live events is going to have a hard time making the numbers tell a pretty story. The cost of flying anywhere has hit the stratospheric mark. The average attendee who goes to an event is probably going to pay something over $1,000 for a flight. There’s a good likelihood there will be
delays and cancellations. Even a three-star hotel is going to cost upwards of $300 a night. Car service or rental adds another few hundred. This means that the average attendee is going to spend $3,500 in travel, plus rising costs in food and drinks before they even buy your event ticket. And you know event tickets will be more expensive because the costs of
logistics, setup, food, and tech have also skyrocketed.
In response many businesses are freezing their travel budgets, which translates to fewer people being able to attend an in-person event. On the other hand, true hybrid events, meaning events with virtual and in-person components that are held simultaneously, put pressure on staff resources and your budget. Further, while virtual events are more cost effective and easier for attendees and exhibitors, we are still not able to prove that they really deliver. |