Building a MICE event budget requires understanding the difference between fixed costs, variable costs, and contingency ...
The main MICE budget categories are: venue hire (meeting rooms, plenary space), accommodation (room block at contracted rate), F&B (DDR, gala dinner, coffee breaks, bar tab), AV and production (screens, sound, lighting, streaming), logistics (transport, staffing, signage), and contingency (typically 10–15% of total budget).
AV budget benchmarks: small meeting (20–50 pax, basic AV): €500–2,000. Mid-size conference (100–300 pax, professional AV): €3,000–15,000. Large conference (300–1000+ pax, full production): €15,000–100,000+. Always get AV quotes separately from the venue — hotel in-house AV is typically 30–50% more expensive than external suppliers.
Industry standard is 10–15% contingency for most events. Add more (15–20%) for: first-time events at a new venue, events in unstable geopolitical regions, outdoor events, events with complex AV/production needs, or events with high-profile speakers who may cancel.
Currency risk matters when your event costs are in a different currency from your budget. Fix exchange rates in contracts by specifying payment currency and locking rates at contract signing. For large events (€100k+), consider forward contracts with your bank to hedge against unfavourable exchange moves.
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