Event registration costs are on the rise, demanding attendees’ wallets open wider—sometimes preventing them from opening at all.

According to the results of MPI’s Q3 2024 Meetings Outlook survey, 71% of respondents have increased registration costs for their in-person events in the past two years. At the same time, 78% of respondents have either reduced or left unchanged registration fees for virtual events.

The result? Price sensitivity. Attendees are increasingly shying away from paying premium ticket prices.

"People do not have the money to spend $1,200 on a conference ticket," says Sarah Hatter, founder of ElevateCX, a community for customer-experience leaders, and community manager for Rebuy Haven, a personalization engine for Shopify stores, which hosts many smaller events. "I think the sweet spot is between $350 and $600. [For] anything over that number, people are going to hesitate. They’ll want to know what is included, what the schedule is, what the program is. If it’s priced more moderately—in the $400 range—organizers can get away with not announcing speakers until a month ahead of time."

One relevant factor is that employers are being more circumspect with the budgets they use to pay for attendance at conferences and events for their teams, according to Hatter.

"Companies are a little more cautious with their budgets," she says. "If employees are attending in a workplace capacity, their bosses want to know what they’re spending the money on, who will be there, how they will make money from this and whom they will meet."

Numerous Meetings Outlook respondents around the world cited the growing cost to attend an event—a notable percentage of which can be registration—as a point of contention within their attendee base.

Jennifer Lucio Vargas, CMP (MPI South Florida Chapter), president and CEO of 305 Communications and Events, explained how some of her clients are adjusting.

"More than ever, [they’re] looking to cut costs and save money on their side while increasing registration costs," she said, indicating a minimal increase of 5% or less.

That cost cutting can, however, make it more difficult—especially in the current landscape—to find and book venues that fit her clients’ budgets, she added.

A Canadian planner who requested anonymity and has also increased registration fees "a small percentage"—less than 5%—noted that, in addition, they’re increasing sponsorships in order to try and mitigate the impact of "costs that have been trending [up] for a while."

Accra, Ghana-based Luc Bodea, CMP (MPI Dallas/Fort Worth Chapter), coordinator of the permanent secretariat of the Society for AIDS in Africa and director of the International Conference on AIDS and STIs in Africa, stated in his survey comments, "Most of [our] participants complain about the cost of attending an event," when identifying the most significant trends impacting his events. Yet rather than increase registration fees, his team is developing new marketing tools with the intended goal of expanding their scope as well as their target audience.

One U.S.-based planner who requested anonymity shared the different approach that they’re taking—even though it’s one that not all organizations can swing: They’ve decided not to pass the buck. Despite rising hotel, F&B and AV costs, they said, "We are keeping our registration the same and eating the difference."

Ultimately, while events are about human connection, they’re also about business—and the organizers who can demonstrate a positive ROI in a challenging marketplace will be the winners.

More holistically and with the big picture in mind, one U.S.-based planner who requested anonymity explained, "Everything is more expensive at every step, [so] we’ve redeveloped our strategy to be more laser focused on our goals and priorities so that our ROI is commensurate with costs."

While the methods being undertaken by event professionals may very, a strategic mindset with a flexible team is your best bet to be set up for success throughout current and future economic challenges.

How, if at all, have registration fees for your in-person events changed in the past two years?

11% INCREASED MORE THAN 15%

32% INCREASED 6%-15%

28% INCREASED 5% OR LESS

20% NO CHANGE

3% DECREASED