Impact of Brexit on Event Planning Industry

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IMPACT OF THE RESULT OF THE REFERENDUM THAT TOOK PLACE ON 23RD
JUNE 2016 IN THE UK ON THE EVENT PLANNING INDUSTRY
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Impact of the result of the referendum that took place on 23rd June 2016 in the UK on the
event planning industry
Introduction
This is a study about the impact of Brexit on the event planning industry across EU and UK
as well. It specifically focuses on attendance of events in the UK and recruitment issues that may
accompany the Brexit transition. The study further explores the opportunities and problems that
Brexit will pose to the industry.
The word Brexit originates for two words, Britain and exit hence Brexit. It describes the
decision by the UK government to exit from the European Union(EU). The Eu is a socio-
political partnership that comprises of 28-member states across Europe. the countries form a bloc
that is a single market and has a common currency known as the Euro which is used by 19
members. The decision of UK to leave the EU was started by Theresa May in March
2017.Exiting the EU will see a lot of changes across all economic sectors in the UK, but special
focus goes to the events industry and recruitment in the same industry. There has been a lot of
anxiety on what will happen in short to medium terms of the Exit, which probes this analysis.
Attendance of events in the UK
The matter of attendance of events is very key for the tourism industry in the UK. The events
industry is one that thrives in relationships not just within the EU, but globally as well. This
means that the effect that Brexit will have on the relationship between the UK and Eu in general
and other countries will be well felt by the events industry. Brexit will have both short term and
long- term effects on the events industry. The short-term effects can be good or bad, depending
on the perceptions of the stakeholders towards it. London is a top destination for events globally,

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with its major exhibitions sector thriving well: according to Mastercard’s 2015 Global
Destination Cities Index. Brexit has so far caused a drop in the value of the pound. This means
that people from other countries can hold events in the UK at cheaper rates. Flights to the UK
are also cheaper now, which means that people from outside countries can now fly into the UK
cheaply and gain value for their money. This has given the events industry a competitive
advantage over competitors. It is a short-term effect which is working for the industry. the
problems that may be posed by Brexit include cancellation of events by outbound companies,
which also emanates from the value of the Sterling Pound. Global markets and partners in the
partners that were not supporting Brexit could also slow down and cut business ties with the UK.
This will see the industry suffering. If free movement of people will be limited to EU and the
UK, business opportunities may be diverted to countries with fewer restrictions. In conclusion, it
may not be possible to predict what will happen after March 2019 (BBC News, 2018): when the
UK is set to officially exit the EU, but then the state is working to ensure that the business
relationship with all the stakeholders will not be adversely affected. In as much as Brexit may
hurt the events industry, there is still hope that the UK can tailor the industry to suit its intentions
for robust growth of the industry.
Recruitment in the events industry
With the free movement of people across the EU, there are many EU workers residing
and working in the UK. According to (Citmagazine.com, 2018) there are more than 60% migrant
workers in London and 66% of them are skilled in managerial jobs. This is an issue of concern
because it touches on people’s livelihood as well as affecting productivity in the events industry.
the impact that Brexit will have on the recruitment of workers in the events industry is will be
heavily felt by all stakeholders, first, migrant workers will have to obtain visas, which has not