The new financial year is well underway now, and signs are looking positive, with inflation slowing in Australia and globally, interest rates stabilising and economic growth slow but remaining positive.
Last week the ANZ Roy Morgan consumer confidence index rose, perhaps reflective of easing inflation and a break in interest rate increases. In Australia and Singapore, the forecast is for GDP growth of around 1.7%, New Zealand, 1.5%, and Hong Kong is charging ahead, with predictions of 4.5% economic growth (International Monetary Fund). With inflation coming under control and the labour market loosening, things are looking up for FY2024 and beyond.
In the events sector, there are some exciting trends that are shaping the industry globally, and we're excited about how these factors will shape the events you host with Cliftons. Artificial intelligence is the overarching development affecting every industry, and events are no different. AI is reshaping and streamlining event bookings, enhancing the on-site experience, automating event administration, and more. You can explore these trends in our recent blog on the subject and gain insights into how technology can help enhance the capacity for creating and delivering 5-star event experiences.
Speaking of 5-star event experiences, another trend we're seeing is the desire to create truly immersive and engaging experiences. No one wants to lose another hour or more of their life to a presenter clicking through slide after boring slide with little effort to engage – or even more daringly, entertain – the audience. We're seeing clients increasingly use a comprehensive blend of audio-visual and event production strategies to engage, interact and bring events to life. Our team loves the opportunity to execute your event vision and deliver on business objectives creatively.
And, of course, work-from-home trends continue to impact the events sector and global work practices. As audiences – whether internal or external – spend more time working from home, events need to work harder than ever to deliver the value that will motivate people to make the commute and attend in person. Research from IACC tells us it’s all about networking, with 65% of event attendees rating networking as a top priority for event attendance. We think it's also about creating an event experience that's so compelling people can't face missing out. We're drawing on a range of strategies to drive that power of human connection, reminding audiences of the power of the conversations to be had and the joy that can come from connecting not just as sales leads or employees but as fellow individuals.
Experiential events are now a game-changer, with people enjoying health and wellness experiences, event scavenger hunts, culinary experiences and more. At Cliftons, we can tailor a range of event experiences to your specific needs. Take a look at some of our favourite team experiences, key note speakers and engaging MCs for inspiration. Whether it's a top-gun themed immersive event to inspire and entertain like former RAAF pilot and Afterburner CEO Christian 'Boo' Boucousis, a five-star dark dining sensory experience, or a creative team challenge, we can help to elevate your event beyond the ordinary.
In a world of technology and AI, reinforcing our humanity as we utilise new tools is truly the secret sauce. That's why we're hosting our latest event series, Horizons, to explore some of the big and emerging ideas of our time with some of Australia’s biggest thinkers and thought leaders. Reflecting on a range of topics and the emerging challenges and opportunities for Australian and global businesses, the event explores the latest issues around leadership, innovation and change to help you stay ahead of the latest trends.
here. I hope to see you there.
Finally, with the end of the 2023 calendar year rapidly approaching, remember to plan your end-of-year celebrations. Our team would love to help you arrange something truly special so reach out if you’d like ideas for great venues, incredible experiences and fantastic catering. And whatever you do, book it in quickly – because venues everywhere are filling fast. It’s great to see everyone back to planning ahead with confidence!