Event agencies have reacted positively to the latest figures revealing that the UK economy grew by 0.8% in the first quarter of 2014.
The figures released by the Office for National Statistics (ONS) follows April’s IPA Bellwether Report, which revealed that event budgets had risen by 6.2% during the same period.
Rick Stainton, managing director at Smyle, said: “We are noticing better conversations with clients as briefs are more speculative and are supported by bigger budgets.
“Last year companies started to budget for an economic recovery and now the money is beginning to cascade down, with events seeing the positive effects of this. We have had a pharmaceutical client double its activity with us and the automotive sector is at a record high in the UK.”
The figures mark the longest positive run of GDP growth since the financial crisis.