Dear colleague,
As everyone is acutely aware, the current global economic situation is having a big impact upon business.
I am writing with regards to the impact this is having on our exhibitions business and to update you on costs.
At the Partnership Conference in December last year, we presented our commitment to reduce the cost of exhibitions by 12 per cent, following the outcomes of the strategic review of exhibitions. Since then, we have made good progress to meet this goal. Examples of savings include:
We are still very much committed to achieving this goal; however, I am sure you will appreciate that the current global economic situation is making this increasingly difficult. Our offices are facing an increase in costs. Examples of this include venue hire, cost of production and, added to this, fluctuating exchange rates. As a result, it is becoming increasingly difficult for countries to set costs for events which will be taking place six to nine months later.
Therefore, in the interim, we will be introducing the following measures with immediate effect:
- When opening events for recruitment, we will continue to include details of cost savings that have been made year-on-year.
- We have set a maximum cost for each event which incorporates an additional 'credit crunch contingency'. This will only be used if the costs have increased due to the global economic situation. If this additional credit crunch contingency is not called upon, you will be invoiced less than the maximum cost.
I would like to assure you that this will not be used as a fall-back position, for example in the event of under-recruitment, and that all reports will continue to demonstrate how the budgets are being spent on the exhibitions.
If you have any comments, please do not hesitate to contact me.
Best wishes
Arlene Griffiths
Director, Education UK Partnership
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