The MIA survey of 109 event venues, suppliers, agents, and destinations reveals that 89% of organizations have experienced cost increases averaging 12% this year. In response, organizations have only raised their prices by an average of 7%. To manage rising costs, 32% have delayed business investments, while 26% have been forced to reduce their workforce, putting additional pressure on remaining employees.

Impact on Revenue and Booking Patterns

Nearly half (46%) of surveyed organizations report being behind on their 2025 revenue forecasts, with only 66% confident in meeting their targets. The average booking lead time stands at 12 weeks, with 65% reporting slightly shorter lead times compared to last year. Additionally, 40% indicate that client budgets have decreased, highlighting ongoing financial pressures.

Sustainability Takes a Back Seat

The study shows a decline in sustainability priorities for 2025, with only 22% reporting that credentials are frequently requested in RFPs. While 62% measure and report environmental performance, only 37% do so regularly. Carbon measurement and reporting remain the most challenging sustainability measure to implement for 49% of respondents.

Industry at a Critical Juncture

MIA Chief Executive Shonali Devereaux emphasizes the industry’s critical position: “Rising costs and economic pressures are placing significant strain on businesses, and something has to give. As an industry, we now have an opportunity to decide how we respond, balancing the priorities of People, Profit and Planet, embracing innovation, being digitally curious, operating with openness and authenticity, and adopting strategies that strengthen resilience.”