Here are some particularly interesting statistics to take into account to better understand the evolution of the event industry often surprising numbers.
A virtual event is usually very interactive and can connect hundreds of people at the same time from multiple devices in one place. They can even complement physical meetings to improve the impact among attendees and boost engagement, making the experience as immersive as possible for users.
Virtual events are compatible with any type of meeting: fairs, conferences, sales meetings, conventions, open days at universities, etc., and they are a really interesting opportunity to make presentations or internal sessions in companies.
The virtual events platform evolves with the times. The practices still used a few years ago are disappearing in favour of new ones, more in step with the times. Now brands prefer live experiences as the preferred way to engage with their audience. The event industry is changing and these impressive and surprising numbers prove it. Here are the statistics not to be missed in the various fields revolving around the world of virtual events.
Virtual Events industry statistics
- Business-to-business (B2B) events generated more than $1.07 trillion in direct spending and attracted 1.5 billion attendees globally in 2017. (Events Industry Council, 2021)
- 6% of business-to-business (B2B) events worldwide were generated in North America in 2021, placing the continent first in spending despite its third place in the number of attendees. (Events Industry Council, 2021)
- In 2017, North American business meetings generated a direct spend of $381 billion, with 329.7 million attendees. (Events Industry Council, 2021)
- In 2021, exhibitions generated $136.9 in direct spending worldwide, with North America accounting for 44% of that spending. (Oxford Economics and Events Industry Council, 2019)
- The UK events sector is worth more than £39.1bn, up from £36.1bn previously. Spending accounts for 35% of the total value of the UK visitor economy. (Partnership for Business Visits and Events, 2014)
- Every year around 1.3 million meetings are held in the UK. (Partnership for Business Visits and Events, 2014)
The competitive advantages of holding virtual events
- They are cheaper
Virtual events represent a considerable reduction in expenses, both for the organizers and for the attendees. On the one hand, it saves on travel and hotels, in addition to the fact that the organization itself does not have to worry about setting up a stand or looking for a physical space to hold the event. This way you also get higher profit margins.
- Increase the geographical area and the number of attendees
They do not have geographical limitations, so the events can be better spread around the globe and also have a more international character. In addition, due to its low costs, it can be carried out several times a year, which can mean an increase in public loyalty.
- Strengthen the network of contacts
Keep in mind that virtual events are more than just videos or online conferences aimed at a group of people. They are designed above all to promote networking so that brands can strengthen their network of contacts that help them generate business opportunities.
- Can be measured in very precise results
Another of the great benefits of virtual events is that very precise data can be obtained on the influx or the specific characteristics of the audience attending the event. Metrics that can be analysed to improve, for example, future conventions. Platforms for events are an essential tool for this.
Virtual event statistics
- 50% of marketers have attended a virtual or hybrid event.Those who attended a virtual event is 51% more likely to attend another event. (Westuc, 2022)
- 85% said they preferred in-person events, and 92% thought they would receive more contact at a physical conference. (Westuc, 2022)
- Only 33% of marketers surveyed say their company hosted a virtual event. 70% of marketers who have hosted virtual events through software such as Hexafair, in the past said they want to host more. (Westuc, 2022)