With the recent turn of the markets and the negative future forecasts, the event planning industry is feeling the tremors of economic uncertainty. With talks of a looming recession, corporate budgets are tightening, marketing spends are shrinking, and discretionary events are already being postponed — or canceled altogether. And yet, history shows us that pulling back too far and cutting from the wrong places can cost companies more in the long run.

We saw this during the 2008 financial crisis. While some organizations slashed event budgets across the board, others took a more strategic approach — reallocating funds rather than eliminating them. They leaned into internal communications, employee engagement, and client trust. The companies that continued to invest in smart, scaled-down events that promoted a positive culture even in the midst of turmoil, weathered the storm better and rebounded faster. Sometimes it’s just a matter of choosing the right keynote speaker who will make a true impact. 

What’s Happening Right Now

There’s no question that the event industry is one of the first to slow down when purse strings tighten. This initial market drop after months of speculation has caused many organizations to snap into a wait-and-see mode. Planners are most likely encountering hesitations to commit to live events and large-scale meetings, creating an uncertain and frustrating planning landscape.

However, the need for connection, motivation, leadership, and innovation doesn’t go away in a downturn. In fact, those needs become even more critical.

Learnings from the 2008 Recession 

After the 2008 recession, there were a few industry leaders who understood the need for bolstering a strong culture in times of hardship, rather than making rash decisions out of fear. 

While many airlines cut back drastically in 2008, Southwest Airlines maintained its workforce, introduced new incentives, and prioritized a people-first culture to keep employees engaged. As a result, they preserved high morale, avoided service declines, and remained profitable without needing government assistance.

Starbucks CEO Howard Schultz chose to reinvest in company culture by closing over 7,000 stores for a day to retrain baristas on the perfect shot of espresso and reaffirm the brand’s commitment to quality and consistency. This bold move reignited a sense of purpose among employees and customers, helping the company rebound with increased sales and a stock value that more than doubled in the following years.

Another heavy hitter that outlasted the 2008 recession was a little brand called Netflix. As Netflix transitioned from DVD rentals to streaming during the recession, CEO Reed Hastings doubled down on innovation and company culture by introducing the now-famous Netflix Culture Deck, which emphasized high performance, transparency, and accountability. This clear cultural vision attracted top talent, aligned the team through major change, and helped Netflix thrive—resulting in a dramatic stock rise as consumers turned to at-home entertainment.

These brands decided to invest in their culture in the face of adversity and because of it they are household names to this day. The best thing any organization can do is look to the past and learn from those who succeeded in similar situations. The lesson we can take from these success stories is to focus on the culture to build a resilient team that will help carry you through the storm, rather than slash budgets and gut team members to try to preemptively save. 

What Smart Event Planners Should Be Doing Right Now

1. Focus on ROI-Driven Programming
   Executives are more likely to approve events when they’re tied directly to business outcomes. Speakers who focus on leadership during uncertainty, employee engagement, resilience, and future trends can provide both inspiration and actionable takeaways — exactly what audiences need in tough times.

Speaker Suggestion: Adam Braun

Adam recently spoke to a client of ours with his new keynote “The Innovator’s Edge” where he explained his framework for not only surviving but thriving through extraordinary change and how to build where the world is headed. Many event attendees said Adam was the best they had seen, with one even proclaiming that he changed his life. 

2. Pivot to Internal Events
   During recessions, many organizations shift their focus inward. Town halls, team retreats, and leadership off-sites become more important and impactful. Event planners can utilize keynote speakers as tools for boosting morale, uniting teams, and guiding strategic shifts — all without the cost of a full-scale conference.

Speaker Suggestion: Louie Gravance

Louie brings contagious energy, humor, and real-world insights to every event big or small. With his unforgettable stories and actionable takeaways, he inspires teams to lead with purpose, serve with heart, and create unforgettable workplace culture—without breaking the bank.

3. Embrace Hybrid and Virtual Options
   Virtual events and hybrid experiences surged during the pandemic — and they remain a cost-effective solution today. Without compromising on quality, planners will find greater flexibility and budget control with speakers who can deliver high-impact virtual keynotes.

Speaker Suggestion: Ben Nemtin

Ben Nemtin offers powerful virtual keynote experiences that are as impactful as they are inspiring. With a top-tier professional setup, Ben delivers a seamless, engaging presentation every time. His story of achieving the impossible and helping others do the same resonates deeply with virtual audiences, leaving them energized, connected, and ready to take action. 

4. Book Strategically, Not Fearfully
   Recessions are not the time to stop booking speakers — they’re the time to book smarter. Negotiate value-added offerings, such as follow-up sessions or custom content. Lock in talent early to avoid rate increases once the economy rebounds. And keep in mind: cutting back on inspiration and strategic vision is never the way to lead through uncertainty.

Speaker Suggestion: Jon Carmichael

Jon Carmichael is more than a keynote speaker—he’s an experience. Known for his breathtaking photography and captivating storytelling, Jon inspires audiences by showing what’s possible when creativity, curiosity, and perseverance collide. He customizes every presentation to deeply connect with each audience, making his message both personal and unforgettable. As a unique value add, Jon can also showcase an immersive art exhibit of his stunning pieces, turning your event into a visually inspiring journey your attendees will never forget.

5. Learn from the Past, Plan for the Future
   The last recession taught us that companies who continued to invest in leadership development, team culture, and customer engagement emerged stronger. Keynote speakers are an essential part of that strategy. They help people navigate change, rally around purpose, and stay focused on the future.

Speaker Suggestion: Nicole Malachowski

With powerful stories of leadership under pressure, resilient team culture, and service-focused excellence, Nicole helps organizations invest in what matters most—people. Her keynotes empower audiences to prioritize leadership development, strengthen internal culture, and elevate customer engagement, all while embracing change with confidence and clarity.

While the economic landscape may feel shaky, this is not the time for event professionals to retreat. Instead, it’s a moment to recalibrate — reframing how, where, and why we bring people together. The demand for great speakers hasn’t disappeared. It’s just shifting. And the planners who adapt now will be the ones who lead the industry’s next wave of growth.