it's time - A Global Report on Destination Marketing and Communications - Report - Page 12
When asked if they believed they would receive additional funding to support the recovery
across the destination over the next 12 months, specifically in relation to attracting business
events, we saw a fairly mixed picture.
34% had either secured additional funding or were expected to do so, versus 28% that had
not and did not expect to do so. However, the largest percentage, 38%, were unsure at the
time of the survey.
As with the section on current investment, while it is very encouraging to see 34% of
destinations securing additional funding, given that 38% are unsure, it may be slightly too
soon to portray an accurate picture at this early stage in the recovery cycle, given longer term
fiscal planning may still be underway.
From our own evidence and experience of working with a number of business events
destinations, we believe there is likely to be additional singular funding, albeit short term, to
aid recovery across a majority of destinations. This will be crucial to stimulate demand and
encourage a return to live events across all sectors and regions as quickly as possible.
The increase in funding also demonstrates a real understanding from policy makers, of the
value and importance of business events to a destination and should therefore be seen as a
positive reflection of the work that has been done to do so.