New report shows organizers excited about ESG impacts

The Meetings Industry Association (MIA) June Insight Report surveyed 185 UK event organisers and venues.

The events industry remains in a challenging environment, with planners continuing to face a range of challenges, from budget cuts to the impact of extreme weather events due to climate change. However, more than three-quarters of planners still believe that the industry will not be bogged down by logistical challenges and will promote creativity and innovation.

That’s just one of the findings from the Meetings Industry Association’s (mia) June 2024 Insights Report, which surveyed 185 UK event organisers and venues. Another highlight: more than half of organisations said they were investing more in their business today than they did 12 months ago, with 81% investing in sustainability initiatives; 73% in technology; 61% in marketing; and half of respondents investing in fit-out and equipment.

“We are pleased to see so many organisations continue to invest in growth, which speaks volumes about the confidence in the sector’s future performance,” Katie Niland, sales director at The Belfry Hotel & Resort in Royal Sutton Coldfield, said in the report. “Sustainability is at the heart of our strategy and we are pleased to see it at the forefront of investment decisions in the sector.”

The report shows that environmental and social impacts are undoubtedly the industry’s top concern – nearly three-quarters of organizations have developed dedicated ESG (environmental, social and governance) strategies, nearly 90% of respondents are clear about their organization’s goals and progress, and 47% of respondents believe that the industry is effectively implementing ESG strategies.

“The good news is that we understand more than ever before how to implement clear processes to assess ESG impacts, develop effective strategies, and foster a business environment that is highly conducive to companies transparently demonstrating their progress and values,” said Stephanie Lykourgou, sustainability consultant, climate resilience coach and educator.

Despite the positive outlook in many areas of the industry, some difficulties remain, including staff reductions. But according to the report, hiring remains strong, with more than three-quarters of respondents currently looking to hire new staff. To address the skills shortage in the industry, almost all respondents (nine in ten) are focused on improving the skills of existing employees by investing more in training and development than a year ago.

One area ripe for investment in upskilling? Artificial intelligence. Currently, only 22% of respondents believe their employees have a high level of understanding of how to use AI tools, but that could soon change. According to the report, 89% of respondents say they have become more productive in their jobs thanks to AI, and more than a third use AI tools every day—up from just one in 10 earlier this year. More than three-quarters of industry insiders believe AI will play a key role in the industry’s future, including crafting RFPs, handling client inquiries, developing marketing copy, and using AI chatbots on their websites.

“We must seize AI’s potential to transform our industry,” said Sherrif Karamat, president and CEO of PCMA, whose views are included in the report. “As society advances, we must be transparent about our use of AI and recognize the need for guardrails. But we can’t ignore AI and wish it away.”

See the full report on the Meeting Industry Association website.