Businesses wasting £1.4bn annually on corporate hospitality
UK businesses are wasting up to £1.4bn a year through unnecessary and avoidable weaknesses in the planning and execution of their corporate events and hospitality programmes, according to gdz event analysts.
The consulting and analysis business claimed that as much as 70% of budgets for corporate events provided no chance of a return on investment at all as a result of poor processes and strategies.
It also stated that the UK corporate hospitality market was valued at around £2bn per annum, rising to £22bn when conventions, travel and staff incentives were included.
Nick Groom of gdz said: "Own interests, high levels of no-shows, poor procurement and low quality customers attending are all
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