Corporate parties cost £2.5bn a year

Companies are splashing out £2.5bn a year on corporate parties, according to latest figures.

The survey, undertaken at the corporate events show RSVP 05, contradicts fears that employers are cutting back on staff entertainment because of concerns about litigation following accidents and ill-advised comments to colleagues.

Instead the poll shows corporate events, parties and hospitality activities are rapidly increasing annually with companies investing in the motivation and morale levels of their staff by organising Christmas and summer parties as well as ‘teambuilding’ and activity ‘away-days’.

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Mike Kershaw, managing director of corporate party organiser The Ultimate Experience, said staff celebrations are showing no signs of losing their popularity.

“Businesses see Christmas parties as a great way of saying thanks to its employees and each year we are seeing more companies organising events for staff, especially now that more and more companies have dedicated events organisers within their HR and PR departments,” he said.