Conferences are a large undertaking with an even larger price tag. With inflation increasing costs across the board and so many factors to consider when planning your budget, it’s hard to know exactly where to place your conference budget.
Sometimes it’s easier to just slap a number on it and try to fit everything into that topline budget, but that’s not always the best approach.
In this article, we’ll walk you through some average costs for conferences (they can vary greatly!), a couple of budget scenarios, and some areas to keep in mind when building out your budget.
Wondering what the average conference cost per person is? Conferences are certainly more expensive than they were just a few years ago. Inflation took a toll on every aspect of the industry, and those increases are being reflected in overall budgets.
Although the cost of a conference can vary wildly, we have some basic numbers to keep in mind as you start to plan.
Let's take a look at two different conference budget scenarios for a 2-day conference with 500 people in attendance. The format of this conference would be one full-day + one half day, which works out to two lunches, two breakfasts, two-to-three breaks, and one dinner / reception. In the first scenario, we take out the breakfasts to give you a lower food & beverage cost.
Let’s do some quick math. If your goal is to keep the per-person cost around $500, then a 500-person conference would cost around $250,000.
We would break down the cost as follows:
Keep in mind that these costs will vary depending on your location, choice of hotel, number of meals, and several other factors. Take a look at those in the next section.
Let’s now take a look at a conference of 500 people for 2 days with a cost of $1,500 per person. The overall budget will come out to $750,000.
The cost would break down as follows:
For an event with this type of budget, you can offer more meals, improve your registration management with things like self-check-in stations or nicer badges, improve your expo hall, and add on additional activities to excite your guests. You can also vastly increase the quality of your A/V production setup, which is an area that can create a lot of impact (what we like to call the “wow” factor).
*Note that event manager costs on a program like this will likely increase due to increased complexities around F&B (more meals), transportation, activities, etc. Even though the basic format and size of the event are similar, there are several more factors built into this event than the previous scenario.
There are several areas that have a big impact on your overall event costs. These include:
Larger events are going to cost more, typically, though you can find ways to drive efficiencies with larger numbers (e.g. entertainment will cost less per-person for larger events). Keep in mind that more people typically means most costs will increase.
Whether you’re looking at hosting your event in a Tier 1 or event Tier 2 city will impact your overall budget. High-end venues and conference rooms will also increase costs. If you’re looking to save costs, take into consideration how you might be able leverage facilities you own or less traditional locations to host your conference.
If you’re paying for all meals at the event, this will drive your costs up. Consider how you may be able to balance your agenda with some meals purchased by attendees vs. you providing every meal. Also consider whether attendees need to pay for their accommodations, flights, transportation, and more. Taking those costs off your plate can help bring your overall budget down.
Your production costs can vary drastically, depending on what you’re looking to accomplish. Production will always be a large portion of your budget and you should consider factoring in more budget here than you originally thought.
Any add-ons to your event like evening events, keynote speakers, or activations will drive up costs. You’ll want to consider what adds the most value to your conference, and what might just be worth cutting.
Hiring an event planning agency will require additional costs, but can drive efficiencies through negotiation power. Registration management will also factor into these costs.
When planning a conference, attendees will want to know the registration fee. These fees can vary widely based on factors like the event’s size, location, duration, and the industry it serves.
Typically, the range for conference registration fees falls between $200 and $1,500, depending on whether the event is a small gathering or a large, multi-day affair.
Here’s a general breakdown of what you might expect:
Small or local conferences: Registration fees usually fall between $200 and $500. These events often have fewer sessions and limited amenities, but they still offer valuable networking opportunities and learning experiences.
Mid-sized conferences: The fees for mid-sized events range from $500 to $1,000. These conferences usually feature a wider array of sessions, speakers, and activities, making them a more comprehensive option for attendees.
Large-scale or industry-leading conferences: Expect registration fees in the range of $1,000 to $1,500 or more. These larger events often include keynote speakers, networking opportunities, and a range of breakout sessions, workshops, and social events.
In some cases, the fee may include meals, networking receptions, or access to recorded sessions, while other conferences may charge separately for these add-ons.
Overall, keep in mind that creating a conference experience isn’t just about budget. You’ll want to deeply evaluate what makes the attendee experience great and make sure everything you’re providing gives value, and that the things you’re cutting out don’t detract from the attendee experience.
Staying at a not-so-nice hotel or hosting the event in a space not conducive to conferences isn’t worth it if your attendees won’t come back next year.
We also like to say that creativity is not a function of budget. Some highly impactful things can be accomplished on small budgets, and increasing your budget doesn’t always equate to better experiences (though it doesn’t hurt). We always recommend evaluating your business goals, your attendee preferences, and your overall program to determine where you need to place the most budget.
Not sure if your budget is accurate? Let’s take a look at it together and see how GoGather might be able to help you find cost savings or value-adds!