The landscape of event hosting has changed over time that one hardly dares compare modern events to those in the past. What used to be simple community gatherings organized with modest decorations, homemade food and basic sound setups has now become a deeply curated experience full of technology, aesthetics and professional services.
The rising costs of hosting events today are consequences of developing expectations, change in lifestyle and influence of modern culture. As society advances, so do the standards by which we measure a successful event.
Technology tends to be one of the major catalysts for increased expenses. Gone are the days when a single speaker and a microphone were enough to keep the crowd entertained. Today’s events demand high-quality sound systems, LED screens, lighting, projectors and even smoke or spark machines.
All these are great additions with an expensive price tag. They require not only the purchase or hiring of equipment but also the hiring of skilled technicians to install, monitor and manage them throughout the event. Technology elevates the experience as it inflates the budget as well.
Running parallel to the growth of technology is the shift in guest expectations. Today’s audiences demand more interactive, more stunning and more customized events. While older generations were content with mere tents and regular decorations, today’s guests expect a well-thought-out theme, innovative backdrops, flower arrangements, and elegant seating arrangements.
Photography and videography have become a necessity too. This shift in expectation compels planners to invest a lot in décor, creative design and professional media services all contributing substantially to overall expenses.
Venues have also become costly in recent years. Modern-day event venues are more advanced and expensive. Many of them boast an in-house sound system, modern lighting, security, furniture and air-conditioning. More significantly, quality venues have become sought after to host weddings, concerts and corporate functions, thereby creating another highly competitive environment that allows providers to charge more.
Inflation has led to increase in prices of food, transport, fuel, décor items, fabric, drinks and labor. As events rely on many suppliers from caterers and decorators to people who offer transportation, security personnel, and entertainment, each of these increased costs trickles into the final event budget.
Another major shift is the gradual disappearance of community-based event planning. In the past, family members and neighbors would volunteer their time, skills, utensils and labor. Today, events are often outsourced to professionals like event planners, caterers, decorators, DJs, MCs, photographers and even social media managers. While these professionals guarantee quality and peace of mind, their services come at a cost.
Finally, modern events are influenced heavily by social media culture. What was once a private affair is now a public display for online audiences and this shift has turned events into mini-productions replete with directors, stylists, and designers.
Increased event cost is a reflection of how our society has evolved. Our standards have risen, preferences changed and desires for memorable experiences have strengthened. While expensive, modern events offer a level of sophistication and creativity that the old days simply could not provide. The challenge is to understand the value behind rising costs of events and to plan wisely.
