- Geopolitical and economic uncertainty are forcing budget cuts and strategic re-evaluation for business events
- Business events professionals must shift from execution to consultative partnerships
- Adaptability, flexibility, and cost management crucial for survival
Geopolitical uncertainty and economic headwinds took centrestage at the recently-concluded Thailand Innovative Meetings Exchange (TIME) 2025, where speakers across multiple sessions unpacked how today’s turbulent global landscape is reshaping the business events industry.
In his keynote Storm Watch: Global Disruptions and the Future of the Thai Service Sector, Andrew Staples, founder and principal at Geopol Asia, laid out the broader context.
“The global economy is slowing. Businesses are focusing on cost control. If they can’t predict tariff rates, they can’t plan – or invest,” he explained, warning that this pervasive ambiguity is leading many companies to delay or scale back on meetings and exhibitions.
As such, Staples urged event professionals to engage more proactively with their clients: “Ask them how geopolitics is impacting their business. They’re concerned about their customers and their bottom lines – work with them to find solutions.”
From execution to consultation
This global uncertainty is shifting how agencies and clients collaborate. During the fireside chat, Being the Regional Office Hub for Multinational Companies – What’s New for Clients?, speaker Gary Ching, event director at Chab Events, highlighted the need for business events providers to move beyond execution and towards consultative partnerships.
“Planners need to prove clear ROI,” he remarked, noting that shifting supply chains and tariffs are driving greater scrutiny on event value while driving a shift towards resilience, networking, and competition.
Ching explained: “This is a very uncertain period, and many clients are cutting down their event budgets. But the truth is, they do have budgets. They just need help planning and understanding the ROI.”
He observed clients pushing back on training events that require travel, and prioritising partner-led activations where there is stronger value alignment and clearer returns.
Buyers tighten spend, but keep expectations high
This cautious spending and strategic prioritisation was also highlighted by Singapore-based buyer Chloe Ng, event manager at Seventy2 Singapore, who noted the challenges of working with budget constraints in the current economic climate.
“The budgets are extremely reduced this year compared to last year, (although) briefs have stayed the same. The latest trips no longer feel like true incentives – they have lost that sense of luxury,” she remarked.
Ching also pointed out that the relationship between agencies and clients has become far more collaborative.
“As event professionals, we need to dig deeper – really understand their business, ask the right questions, and take on more of an advisory role. It’s about guiding them toward events that generate leads and drive revenue, rather than defaulting to internal activities that don’t move the needle,” he stated.
Staying adaptable
When asked how the industry is navigating unpredictability, Canadian buyer John Wee Tom, founder of Area Corporate, shared: “We’re hardwired to respond. There’s no perfect playbook. You just keep your ears to the ground and adjust. Even the best plans can’t anticipate some of what we’re seeing.”
Contracts are also evolving to address this reality, he added. “Just like we adapted contracts for Covid, now we’re adding clauses for political instability, especially in risk-prone destinations.”
Nitin Sachdeva, Thailand Convention and Exhibition Bureau’s India representative, meanwhile emphasised the importance of agility, tech adoption, and cost management. “If you can’t cut your input costs in an era of inflation and oil spikes, you’ll struggle to survive,” he warned.
Reflecting on recent disruptions, Sachdeva said: “We had a great warm-up with Covid. Back then, everything was shut down. Now at least something is always open; we need to stay flexible. If outbound markets collapse, pivot to domestic. Use technology to reduce overheads. This is where creativity and survival intersect.”
He stressed that rising oil and logistics costs will hit events hard in the near future, and companies must revisit core principles. “Cutting input costs isn’t just a strategy – it’s a necessity. We need to remember how to adapt quickly.
