eye on Bud­gets

Cor­rect pric­ing is the key to suc­cess­ful events and good prof­its. Some ex­perts talk about the bud­get for events such as wed­dings or dealer con­fer­ences

Micetalk - - FRONT PAGE - Vaishali Dar

Bud­get­ing for an event isn’t easy. The costs in­cludes the price of venues, cater­ing, en­ter­tain­ment, be­sides other things. So there is al­ways a scram­ble to save or min­imise con­tin­gency pay-outs among other things. To make a prof­itable and suc­cess­ful event, care­ful and cal­cu­lated plan­ning is a must. Get­ting the bud­get right could make it a stress-free event, say ex­perts. Talk­ing about the bud­gets needed for mak­ing a suc­cess­ful event, some ex­perts also share which des­ti­na­tions are good and why. Ex­cerpts:

Ki­ran man­shara­mani

Busi­ness de­vel­op­ment man­ager Warq events, Barcelona

De­mand for in­cen­tives

Be­ing an Indo-Span­ish DMC, we fo­cus on Spain and Por­tu­gal for the In­dian trav­ellers. Two years back we were do­ing just one or two big in­cen­tives (which in­volve more than 100 peo­ple) but now its one per month. With typ­i­cal in­cen­tives for three-four nights in one city, all In­dian meals, the or­gan­is­ers are more de­mand­ing and ask­ing for new things, com­bin­ing tier II cities, try­ing lo­cal meals, new ac­tiv­i­ties like scuba div­ing, go kart­ing. Oc­to­ber and Novem­ber is a good time to plan your bud­get and in­cen­tive travel.

For the agents

We try and pro­mote a lot of pack­ages to agents and get deals from them on the ba­sis of the re­quire­ments from the cor­po­rates. This time we have come up with a unique pack­age of club­bing Ibiza with Barcelona. We pro­vide out-ofthe-box ac­tiv­i­ties like ex­pe­ri­enc­ing the cul­ture in­stead of go­ing for lo­cal lunch pre­pare your lo­cal lunch and do a show of cook­ing paella in Spain, driv­ing lo­cal jeeps to a win­ery.

Top des­ti­na­tions

Dubai, Sin­ga­pore, East­ern Europe (Prague, Bu­dapest), Malaysia and Spain. In In­dia, a one week stay is needed to cover the golden tri­an­gle of Delhi-Agra-Jaipur. Not all cor­po­rates have the bud­get to visit all the states. Luck­ily In­dia is not that ex­pen­sive and there are op­tions be­tween lux­ury hos­pi­tal­ity and af­ford­able stays. But In­dia has to grow and adapt a lit­tle more to a dif­fer­ent mar­ket.

Bud­get

The main fac­tor for de­cid­ing a desti­na­tion for the In­dia mar­ket is whether the desti­na­tion is hap­pen­ing or not, as In­di­ans are in­ter­ested in photo-ops and shop­ping. The cost is equally im­por­tant as the desti­na­tion has to be value for money. In the be­gin­ning we used to get queries for typ­i­cal in­cen­tives for three to four nights in one city, with all In­dian meals. There has been a change in the trend though. The cor­po­rates have moved from the very av­er­age kind of think­ing to look­ing for new ex­pe­ri­ences.

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