Impact of Brexit on Event Planning Industry

This study explores the impact of Brexit on the event planning industry in the UK and EU, focusing on attendance of events and recruitment issues. It also discusses the opportunities and problems that Brexit will pose to the 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

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been the case, according to (B2B Venues, 2018). Although the process of acquiring legal
documents for work may not be immediate, some workers will lose jobs. There are some
opportunities that could come with this process such as reduction of the unemployment rate for
the British citizens. The lost jobs will be taken up by residents. Another opportunity is that UK
will have the opportunity to work with other countries outside the EU. This may open up
recruitment opportunities for workers from other countries. This will increase the diversity of the
workforce in the industry, as well as better recruitment strategies that work for the UK. After
Brexit, UK will also be able to tailor recruitment policies to their own advantage without really
complying with the standards set by the EU. The main problem that Brexit may bring to the UK
is the need to change education, culture, and training to be able to bridge the gap that will be left
by the migrant workers. This may cripple the industry that has been relying heavily on foreign
workers at all are\as of its operations. Streamlining requirements for working in the country may
also affect the diplomatic relationship between the UK and its partners within and outside the
EU. In conclusion recruitment in the events, the industry is one of the areas that may suffer in the
middle of the Brexit transition. The concerned authorities are then required to take note and act
accordingly to ensure that the industry doesn’t suffer adversely from losing its workforce. EU
migrant workers should be given enough time to acquire all legal documents.

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Brexit infographics
Sourced from http://blog.indeed.com/2016/06/29/impact-brexit-eu-job-search/
After Brexit, the EU jobseekers in the events industry doubled up after the result of the referendum
were announced. EU workers are seeking employment in other countries more.
Sourced from https://www.linkedin.com/pulse/top-tourism-facts-figures-uk-maria-callow-chartered-
marketer-
Statistics show that the number of visits from other countries are on a steady increase since the
initiation of Brexit.

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Conclusion
Brexit is a process that is set to take place in a span of two years and it has been marred
by a lot of speculation. All in all, it is meant for the good of the UK. In as much as it may have
some negative consequences on the event planning industry, there are still some advantages that
come with it. They key thing is that Brexit may open up UK’s event markets to more foreign
partnerships outside the European Union. Recommendations for the stakeholders is to review
their plans, strategies, and policies to be more accommodative to more markets that will be
reachable after Brexit. On the other hand, the events industry should also invest more in foreign
markets since it is a field that thrives on building and maintaining of professional relationships.

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Reference list.
Citmagazine.com. (2018) Brexit reaction: Event planners outline pros and cons of leave vote
(updated). [online] Available at: https://www.citmagazine.com/article/1400091/brexit-reaction-
event-planners-outline-pros-cons-leave-vote-updated [Accessed 28 Mar. 2018].
B2B Venues. (2018) Will Brexit affect the B2B events industry? - B2B Venues. [online]
Available at: https://b2bvenues.com/opinion/will-brexit-affect-the-b2b-events-industry/
[Accessed 28 Mar. 2018].
BBC News. (2018) Brexit: All you need to know. [online] Available at:
http://www.bbc.com/news/uk-politics-32810887 [Accessed 28 Mar. 2018].