In a talk entitled 'Green Shoots or Hairshirts? – The next two years', as part of industry association Eventia's summer programme at the Holiday Inn, Brighton Seafront from 5-7 July, independent behavioural economist Martin-Fagg reviewed the global economic prospects and outlined the shape of things to come for the event industry.
He said: "When the price of property stops falling, that’s when the recession will be over. I don’t see that happening for another 18 months. Another hurdle we should be looking out for is public sector funding, which will drop like a stone."
He added that the Olympics is nice to have, but warned that it is not going to lift the economy as a whole like it did for Greece in 2004.
Fagg urged the Government to be more honest about the financial situation and predicted that next year will be as tough as this year but, due to businesses running more efficiently, the effects will not be felt as harshly.
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