Tariffs: Is the Perfect Storm Brewing For The Events Sector & Are You Ready?

The introduction of US tariffs across a wide swathe of products and materials; targeting countries around the world; is a high-profile policy decision affecting multiple industries globally. While much commentary has focused on the political dimension, this blog looks at the practical impact on the events sector specifically, and at a second significant pressure closer to home for UK operators: the April National Insurance rise, coupled with a meaningful increase in the Living Wage threshold.

Both of these changes will significantly increase costs for businesses operating in the events sector. In the UK, casual workers, lower-paid crew and equipment hire can represent a relatively high proportion of event spend; so even organisations that don't employ casual labour directly will feel the National Insurance effect through their supply chains.

So, is a perfect storm brewing — and what could the impact be?

For those working globally as well as in the UK, the potential consequences include:

• Agency redundancies to meet tightened staff budgets, in a sector still rebuilding cash reserves post-COVID.

• Increased pressure on remaining staff to deliver more with less; driving up turnover and potentially compromising event quality.

• Higher costs for Expo and stand builds, particularly for US events reliant on imported screens, steel and fabricated structures.

• Potential increases in food and beverage costs in the US as imported wine and produce become more expensive.

• Clients reducing or pausing their events programmes entirely to reassess strategy.

• Smaller agencies and event management companies going under; with some venues potentially following, especially those heavily dependent on corporate event revenues.

These cost pressures are not confined to one tier of the industry. Corporate clients, mid-market businesses, independent event professionals and venues will all need to find ways to absorb or pass on these increases.

What does this mean for events themselves?

Assuming events go ahead; in some form, at some scale; the outlook will likely mean tighter production budgets, harder conversations with venues and suppliers, and a stronger business case required at every stage of the planning process.

When in-house costs rise and the expectation of quality remains high, a leaner, more agile model often becomes the answer. Freelance specialists and technically expert smaller agencies can offer the flexibility and the delivery expertise to make the difference. The events sector has always been full of talent; and much of that talent sits outside large agency structures.

WWG's position

The perfect storm may be brewing; but World Wide Group is built to meet it. With 90+ years of production and events expertise behind us, and an agile, global delivery model, we are ready to help our clients navigate this period and continue to deliver events that captivate audiences, wherever they are in the world. The question is: can your current partner say the same?

If you'd like to talk through your events strategy for 2025 and beyond, we'd love to hear from you.