How to Participate in the Global Event Industry Resilience Study by UFI and Explori
March 24, 2020
If you’re an event organizer who has recently cancelled, postponed or gone virtual with your event, now’s the time to share how you’re doing with UFI and Explori. The Global Association of the Exhibition Industry and the live event research specialists, respectively, are inviting event planners to participate in an international research project that aims to understand the impact of this significant disruption on attendees and exhibitors. The study will also identify best practices for future resilience.
To participate in this project, reach out to research@ufi.org or bespoke@explori.com, or go here.
“We are certainly in the midst of trying times, but a point will come where both individual shows, and the industry as a whole, will want to reflect,” said Kai Hattendorf, CEO of UFI. “We will need to evaluate the actions taken, the wider impact and what we can learn for the future.”
He continued, “We will also need the right data to continue to advocate for our industry to receive the support it needs to bounce back. Now is the time to start collecting this data to contribute towards future resilience and to learn and grow.”
The study, the results of which are planned for release in early summer, will aim to identify the following:
- The resilience of face-to-face events
- The economic impact of business opportunities lost
- The unrecoverable costs to visitors and exhibitors
- The impact on brand equity of cancellation or postponement
- How effective virtual events are at meeting customer objectives
- Any direction as to how any impact can be mitigated in the future
According to Sophie Holt, global strategy director for Explori, the study will be kept open for as long as the current disruption persists, and there is no cost to participate in the research. Event organizers who participate will receive a report of their own results along with an industry-wide insight piece based on anonymized aggregated data within about three weeks of participation.
So far, most major international organizers are participating in the study, along with a wide range of smaller for-profit and not-for-profit organizers and associations, she added.
“The insight will also be shared with all stakeholders who advocate on behalf of our industry,” Holt explained. “As with all Explori research, this project will be conducted with the highest regard for data privacy and results treated with the strictest confidence.”
To participate in this project, reach out to research@ufi.org or bespoke@explori.com, or go here.
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MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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