MBD’s The UK Corporate Hospitality Market Development Report suggests the market had a 5% decline in 2009, which saw turnover fall to a five-year low of £933m.
The research suggests demand for corporate hospitality will grow as the London 2012 Olympics draws near, growing 11% in real terms between this year and 2015.
According to the report the slow economic recovery is expected to continue to encourage a number of UK companies to scrutinise their corporate hospitality budgets and will prevent a huge growth in the sector. Many experts believe that sporting events sponsors will continue with fewer existing deals when the renewal period arrives and that will impact the market.
To leave a comment register and let us know your thoughts.