When the inflation monster comes nibbling at your events budget

Photo by Josh Appel on Unsplash

Inflation corrodes the value of money and what it can buy. 

Sadly, its tentacles extend into the world of exhibitions and events. 

Price rises for materials, labour, heating and fuel affect the production costs for trade show stands and graphics. 

Event venues are facing massive increases in their energy costs, and it’s inevitable that some will be passed to exhibitors and show organisers. 

How can you make the situation less painful? 

1. If an organiser offers an early booking rate for stand space (and some do) in a tried and tested show, take it.
2. When working with event suppliers (like us), it pays to agree on prices well in advance of an event. That way, your costs are locked-in, and your budget is protected from further increases.
3. Ditto for hotel rooms and event transport 
4. Spend money on what you know works and cut things that don’t add value to visitor experience. 
5.  For team dinners on show evenings, agree on menus with limited choices at a fixed price. That way, you control dining and entertainment costs. 

And there is good news on the horizon. 

The forecast for price-index inflation for the UK in 2023 is a fall from 11.5% now to 6% by Q3 (source Trading Economics). 

That would be in line with trends in Germany, Italy and Belgium, where price inflation has already slowed. 

So things will improve.

Meantime, and concerning point No. 2 above, now is a good time to talk to us about your event requirements for 2023. 

Doing so will help us give you the best possible rates, and we can both lock in our budgets. 

Email [email protected] or call 01702 662 111 to start the conversation.