Businesses wasting £1.4bn annually on corporate hospitality

Party hats

The consulting and analysis business claimed that as much as 70% of budgets for corporate events provided no chance of a return on investment at all as a result of poor processes and strategies.

It also stated that the UK corporate hospitality market was valued at around £2bn per annum, rising to £22bn when conventions, travel and staff incentives were included.

Nick Groom of gdz said: "Own interests, high levels of no-shows, poor procurement and low quality customers attending are all

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