The cost savings from hosting a virtual event compared to a physical event can vary depending on several factors, such as the scale and nature of the event, the technologies and platforms used, and the specific requirements and goals of the organizers. However, here are some common areas where cost savings can be achieved with virtual events:

Venue and infrastructure: Virtual events eliminate the need for renting a physical venue, which can be a significant cost-saving factor. Costs associated with venue booking, security, utilities, and setup are eliminated.

Travel and accommodation: With virtual events, attendees, speakers, and organizers can participate from anywhere in the world, eliminating the need for travel and accommodation expenses. This can result in substantial savings, especially for large-scale events that attract participants globally.

Event production and logistics: Virtual events often require less production and logistical work compared to physical events. Expenses related to stage setup, audiovisual equipment, decorations, signage, and physical materials like printed programs or brochures can be reduced or eliminated.

Catering and refreshments: Food and beverage expenses, including catering services, can be a significant portion of the budget for physical events. In virtual events, these costs can be significantly reduced or eliminated since attendees can provide their own meals and drinks.

Marketing and promotion: Virtual events offer various digital marketing channels, such as social media, email campaigns, and online advertising, which can be more cost-effective compared to traditional print media or physical promotions. Targeted online marketing strategies can help reduce overall marketing costs.

Ancillary expenses: There are several additional expenses associated with physical events that are not applicable to virtual events. These may include event insurance, on-site staffing, transportation costs, event merchandise, and other miscellaneous expenses.

It's important to note that while virtual events can provide cost savings, they may also have unique costs associated with technology platforms, virtual event software, technical support, and production equipment. The extent of cost savings will vary depending on the specific circumstances and the level of investment made in virtual event technologies and services.