Deloitte corporate finance director Stuart Sparkes said the events industry should be brave and acquire businesses if a company can afford to, because good companies will be available at cheap prices.

Henley Management College client director of School of Growth, Innovation and Enterprise Roger Martin-Fagg led the animated discussion on "Could 2009 be as bad as the world predicts? What the world economy has in store for media and the events business".

Sparkes advice was reinforced when Clarion Events chief executive Simon Kimble revealed the organiser currently had three acquisitions in the pipeline worth £50milllion during a discussion on "A view from the top: would you invest in the events business in 2009?"

Also at the events the terrorist attacks in Mumbai provided a major talking-point as United Business Media group chief executive David Levin revealed he had 100 staff in the area for two shows PMEC and CPHI, which had to be cancelled until further notice.