The International Special Events Society (ISES) commissioned crewing company Crewsaders to produce the report, which details challenges facing the events industry in 2012. The report examines what will happen once the Games are over, and how the event supply chain will adapt to the reality of decreasing supply-side capacity. Crewsaders began its research in December.
The report found that a busy second and third quarter in 2012 should contribute to a bumper year for the events industry. But although turnovers are likely to increase for many companies, shortages of skilled manpower and equipment during the summer will likely to lead to inflated prices and tighter margins for organisations that have contractual pricing arrangements.
The report gives recommendations to the industry on manpower, equipment and venues.
It suggests that soft measures requiring little investment, such as recruiting temporary skilled staff and setting up new event management and staffing companies, may work well to increase supply capacity, leading to greater competition in the sector and a decrease in inflationary pressure.
Responding to the findings, Dale Parmenter, managing director of the DRP Group who contributed to the research, said: "We see the events of 2012 both a huge opportunity, but also a potential threat to our business. This report gives clarity to what is a topsy turvy market and I'm sure those who read it will find it a valuable source of reference on how to best deal with the next six months."
Jonathan Byrne, president of ISES UK, said the research is "insightful and valuable" to the industry.
"The good news is that ISES members, by learning from each other and sharing best practice, are strongly positioned to rise to the challenges outlined in this report," he said.
The full report will be available to download from the ISES website from 6 February.
To leave a comment register and let us know your thoughts.
For more in-depth industry features, showcases and interviews with the world leading brands don't miss the next issue of Event magazine by subscribing here.