Latest news with #eventsindustry
Arab News
9 hours ago
- Business
- Arab News
Second Event Tech Meetup in Riyadh showcases local innovation
RIYADH: The second Event Tech Meetup 2025, held at the Bayt Al-Thaqafa — Al-Ta'awun Public Library in Riyadh on Sunday and Monday, attracted a diverse audience from both the public and private sectors. The event, organized by the National Events Center, featured specialized workshops, brainstorming sessions, and a showcase of technological innovations tailored for the events industry. Lojain Al-Harbi, founder and CEO of Dulani, reflected on her experience at EventTech Tank, which allowed entrepreneurs to pitch their ideas to potential investors. She said: 'It feels amazing. Months of hard work have paid off — seeing our results is a completely different feeling. We're grateful for this opportunity.' Abdulaziz Al-Subaei, founder of Jawlat, echoed her sentiments. 'This is truly an excellent opportunity. Having direct exposure to investors is incredibly valuable, especially since we haven't had much interest before,' he said. Another participant, Abdullah Al-Hajji, CEO of Eventify, told Arab News that the event had been a successful one for the company. 'We even secured an investment, which is an incredible result for us,' he added. Budoor Al-Malik, co-founder and CCO of MILA Celebration, emphasized the importance of the meetup for startups in the event tech space, which allowed the company to 'connect with like-minded individuals and investors who share our passion.' The opening program of the meetup included live demonstrations from industry innovators. One of the highlights was the National Events Center's presentation, titled 'No Waiting, Digital Innovation Creates the Experience.' This was centered around their 'SKIP Q' solution, which aims to enhance visitor experiences by streamlining entry and reducing wait times. Additionally, the Ministry of Tourism showcased their platform 'Decisions Made in the Moment,' which utilizes advanced analytics to inform tourism strategies. Two expert panels delved into the transformative impacts of technology on the events sector. The first panel, 'How Artificial Intelligence Shapes the Future of Events in the Kingdom,' discussed AI's potential to lower operational costs and improve event management. The second panel, 'Data Drives the Event Scene,' focused on how AI can convert data into actionable insights. Many startups presented their products in hopes of attracting attention from prominent investors, who were eager to explore new opportunities. The 'Event Tech Meetup 2025' is part of the broader 'Event Tech 2025' initiative, aimed at accelerating digital transformation within Saudi Arabia's events sector. This initiative focuses on nurturing the entrepreneurial ecosystem, aligning with Saudi Vision 2030.
Skift
14-07-2025
- Business
- Skift
Tariff Turmoil Hits Events Industry: Planners Fear Higher Costs
President Donald Trump drew a line in the sand on Saturday, threatening 30% tariffs on August 1 on products from Mexico and the EU. Planners say this will only compound the effects tariffs are already having on all aspects of events. President Trump is threatening to impose 30% tariffs on goods from Mexico and the European Union on August 1, and the fallout is already being felt across the events industry. Meeting planners say rising costs, supplier confusion, and ongoing supply chain disruptions tied to the tariff rollercoaster are making it harder to plan and execute events. Tim Barrett, senior director, global meetings at Destination South, summed up the current state of confusion being felt by many planners: 'It's chaotic, especially the whiplash of one day to the next and the differing totals and/or start dates.' The impact is being felt across the entire supply chain, from the associations and corporations hosting the meetings, to the independent planners they hire, all the way down to the suppliers they use, such as DMCs, exhibitor services firms, and AV companies. On the merchandise side of the business, tariffs on Chinese goods have upended the promotional products industry. The Promotional Products Association International reports that 78% of its top 100 suppliers have raised product pricing to protect margins and 70% are shifting sourcing away from China. Tariffs on imported steel, aluminum, and lumber are already driving up costs for exhibition booths, stages, and other essential event infrastructure. Audiovisual equipment prices are climbing as well, since many components come from affected countries. As tariffs drive up costs, companies may look elsewhere to exhibit, said Kai Hattendorf, CEO of HTF Business Events Expertise and the former CEO of UFI, the Global Association of the Exhibition Industry. He predicts that trade shows in the U.S. might have to rely more on their domestic exhibitor bases as foreign businesses scale back their participation at U.S. events. A Critical Concern Cost increases as a result of tariffs are hitting event budgets hard at a time when planners have already been navigating rising costs due to inflation. Skift Meetings' 2025 survey of 103 meeting professionals found that rising costs are plaguing the vast majority of planners: When asked about the main concerns impacting their jobs right now, 90% said potential cost increases and 66% said potential recession. A full 82% said they expect event costs to increase in 2025–2026 because of the tariffs. Incentive planners are finding ways to increase the perceived value of the incentive experience without increasing hard costs, by focusing on things like access and status. Offering attendees priority seating at an event, first access to redeem their reward, or a meet-and-greet with a musician or entertainer can add value to the experience at little or no cost. Meeting industry lawyer Paul Cataudella, principal attorney, Cataudella Law, says planners signing hotel contracts right now have two options: Remaining silent until it becomes necessary, then addressing it in the event of a dispute, or including language that attempts to arrive at a mutually agreeable or mutually beneficial outcome in the event that a particular tariff is imposed. 'This is where it gets really sticky because the language regarding tariffs requires a heightened level of specificity: Someone could say that a tariff was imposed, and that therefore the cost is 20% higher — but is it? Are those goods actually being imported by your suppliers or your subcontractors? Are they subject to tariffs, such that it causes an increase in that program element?'
Skift
02-07-2025
- Business
- Skift
UK Events Industry Pushes for EU Deal to Ease Post-Brexit Barriers
As Brexit fallout continues to hamper international attendance, UK event leaders are calling for targeted agreements with the EU to restore cross-border mobility and recover international business lost to red tape and rising costs. The UK events industry is urging policymakers to negotiate a Mutual Recognition Agreement (MRA) with the European Union to ease cross-border rules that have disrupted trade shows, exhibitions, and meetings since Brexit. Britain's exit from the EU was finalized in 2020 when the two sides agreed to a trade deal. The UK' $84.7 billion events sector has seen a drop in international exhibitors and delegates due to increased red tape, visa delays, and logistical hurdles. 'Business events support trade and regional economies. The ability to operate easily across borders is essential,' said Shaun Davies, Labour MP for Telford and chair of the All-Party Parliamentary Group for Events. Patchwork of Systems to Navigate Event professionals must now navigate 27 separate immigration systems. Each with its own short-term work requirements. Belgium, for example, requires a work permit even for visits under 90 days. These hurdles have forced some major shows to relocate. One example is ICE (International Casinos Exhibition), a major gaming industry trade show. It is relocating from London to Barcelona. Organizers cite rising costs and logistical burdens for EU-based exhibitors as a driving factor in the decision. Led by the Events Industry Alliance, the campaign seeks to restore international cooperation and position the UK as a more accessible destination for global events. A new white paper by The Business of Events outlines further recommendations. They include reopening the EU-UK Trade and Cooperation Agreement to allow for an events-specific visa exemption, issuing clear country-by-country guidance, and creating centralized support services to help professionals comply with EU work requirements. These steps, the paper argues, would help the UK stay competitive and grow in a post-Brexit world.
