Talwar said the reason some companies are still around is through luck, market positioning and good management, but added that a recession does provide new opportunities.
"Companies should be preparing themselves for a revenue fall," he said. "Not to have a plan for this will cause panic."
He advised event companies to maintain their contacts with the alternative energy, biotech, food and infrastructure industries due to their continued growth.
Events will increasingly have to become ‘free or fantastic', he predicted, with an increase in the use of IT, social networking, hologram and virtual reality technology.
"People have to stop looking at social networking and new media in terms of cost benefit. It is just the way things are moving," he added.
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