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Meeting and conference venues are benefitting from the cheap pound as it attracts more people from across the globe to the UK.
Exchange rates have seen the euro fall against the dollar and the sterling also reduce in value, leading to more people coming from the US to host events and conferences.
Ben Goedegebuure, sales director for the Scottish Exhibition and Conference Centre, tells TTGLive the venue is now 43 per cent cheaper than two years ago, due to the currency fluctuations.
"It presents an outstanding opportunity to seize and grow market share in the North American market and allows us to challenge perception issues the US market has had with UK venues and suppliers," he adds.
However, Medina Peters, director of event sales for Royal Lancaster hotel, tells the source that proposals for conference have to be much more clear and concise now, as companies look to cut back on all costs.
The expert asserts there must be "no surprises in the bill" and it has to be "squeaky clean" as travel or event managers put budgets under the microscope.
However, Ms Peters says companies now tend to group together their events, meaning venues get bookings for four or five, rather than one or two and so reducing the peak and trough usually seen in the industry.
Another trend identified as growing this year is eco-friendly venues, which Katie Fewings, co-founder of Ethical Weddings magazine, says can also save on costs.