Media Interest In The Effect Of The Credit Crunch On Corporate Christmas Parties Intensifies

As the credit crunch continues to whip up a daily media frenzy it was probably not surprising to receive a call this morning from BBC Radio One enquiring about the effect that the 'economic downturn' is having on corporate Christmas parties. The feedback that we are receiving from our subscribers and visitors alike is that, whilst there is a general tailoring back on expenditure, it only seems to be the banks that are really cutting back and severely downsizing their festive entertainment spend. Indeed it is not uncommon to hear stories of Christmas party organisers actually seeing their bookings rise by sometimes up to 50% over last year. Maybe a case of companies treating their staff whilst they can. Next year's corporate festive event expenditure will be the one where we will really see the effect of the crunch. One thing is clear, the events industry is not going to suddenly collapse as companies and individuals will always need to have events - if only to cheer themselves up amongst the doom and gloom - and providing we all raise our game by delivering value for money, monitor our costs and work on reasonable rather excessive profit margins the fit will survive.