During their AGM in July 2020, members of the International Association of Event Hosts (IAEH) met to explore what the 'new normal' might look like for major event hosts, and how the processes of bidding for and hosting events could change after the pandemic. The IAEH's conclusions were as follows:
Focus on domestic events |
Local and national events would likely be prioritised before regional and international gatherings, with hybrid events helping to engage international audiences in the near term. |
Sharing financial risk |
A more equal approach to sharing the financial risk between rights holders and host destinations will be paramount, with significant changes to how hosting agreements are structured. |
Bespoke approach |
Taking a bespoke approach to events and conducting case-bycase analyses will be necessary in order to find the right solution for each specific event. |
Protecting existing events |
Bidders and hosts will be more focused on events to which they have already committed and delivering those events in the best way possible amid current restrictions. |
Percentage budget cut |
Event hosting budgets could be cut by as much as 65 per cent, but figures vary. Some members said there may be an increase in budget to help comply with new regulations and stimulate economic recovery. |
Milestone payments |
Milestone payment systems could be employed as a potential solution to dealing with bidding and hosting fees moving forward. |
Information sharing is key |
IAEH members will seek to share information, knowledge and training, especially on ‘new normal functioning’, such as best practice on health protocols and digital event impact measurement. |
Shift in priorities |
Members will seek to prioritise residents’ sentiments and community value when bidding for and hosting an event. |
Focus on domestic events | Local and national events would likely be prioritised before regional and international gatherings, with hybrid events helping to engage international audiences in the near term. |
Sharing financial risk | A more equal approach to sharing the financial risk between rights holders and host destinations will be paramount, with significant changes to how hosting agreements are structured. |
Bespoke approach | Taking a bespoke approach to events and conducting case-bycase analyses will be necessary in order to find the right solution for each specific event. |
Protecting existing events | Bidders and hosts will be more focused on events to which they have already committed and delivering those events in the best way possible amid current restrictions. |
Percentage budget cut | Event hosting budgets could be cut by as much as 65 per cent, but figures vary. Some members said there may be an increase in budget to help comply with new regulations and stimulate economic recovery. |
Milestone payments | Milestone payment systems could be employed as a potential solution to dealing with bidding and hosting fees moving forward. |
Information sharing is key | IAEH members will seek to share information, knowledge and training, especially on ‘new normal functioning’, such as best practice on health protocols and digital event impact measurement. |
Shift in priorities | Members will seek to prioritise residents’ sentiments and community value when bidding for and hosting an event. |