Following a record year for corporate bookings in 2024, Center Parcs Conferences & Events has released its inaugural whitepaper titled The Value of Corporate Events, which offers a detailed data-led analysis of the motivations and rewards for hosting work functions.
Despite economic constraints, the report reveals that 80% of UK businesses are set to increase or maintain current spending on company events over the next 12 months – up from an already resilient 75% in 2024.
The data also discredits the benefits of scaling back on discretionary spending in challenging climates, with seven out of 10 businesses reporting revenue generation directly stemming from events – rising to 72% when counting indirect revenue streams.
Barring budget availability, uplifting employee wellbeing was identified as the primary driver behind increased past and future spending (58% and 48% respectively), demonstrative of a widespread desire to improve the employee experience and adhere to a new corporate culture defined by the four day work week and Flexible Working Act.
READ MORE: Yorkshire studio helps Global Witness sharpen its fight against climate destruction
In fact, UK businesses cite improving work relationships (76%) as their primary objective, with three quarters stating corporate events help prevent workplace disputes – a valuable benefit against the estimated 28.5 billion per year cost of disputes on the UK economy (ACAS).
Positive effects on job satisfaction (80%) and productivity (75%) were also identified as some of the top benefits of corporate events – with conferences and training days having the biggest impact on the latter.
Julia Green, head of corporate events at Center Parcs Conferences & Events, said: “Amid mandates to return to the office, Gen-Z cutting down on booze, and AI seemingly everywhere, corporate events are simultaneously driving and reflecting changes in the working world.
“Our customers always tell us about their desire to foster connection and wellbeing through our events, but this whitepaper was a chance to uncover the broader motivations and track the proven ROI driving future investment across the events industry.
“We’re encouraged to see that businesses understand the revenue, productivity, and retention benefits of corporate events, and are committed to investing in the employee experience despite wider economic challenges and grappling with hikes in NI contributions.
“Our research shows that one in five UK companies introduced employee incentive getaways in the past few years and an additional 20% have strengthened their existing offering, and the data indicates this is likely to increase in 2025” , added Green.
The full report titled The Value of Corporate Events in an Ever-changing World of Work is available for download here.
