Event industry positive following news of UK economic growth

News that the UK has come out of recession has been warmly greeted by the events industry, according to citmagazine.com.

Experts from Zibrant, BCD M&I and Universal World Events, have all pitched in with their thoughts on today’s news that UK GDP has grown by one per cent, and are in agreement that the “Olympic bounce” played a pivotal role in the UK’s fortunes.

Matthew Wall, BCD Meetings & Investment’s vice president of operations, said that restaurants, hotels and event venues should be patting themselves on the back for playing their part in the achievement.

“The fact that a large part of that increase is attributable to restaurant and hotel spend will owe a lot to the impressive volume of live events taking place throughout the Olympic Games,” he said.

“The superb delivery – on schedule and under budget – will also be a once-in-a-lifetime showcase for London as a destination that we must all do our best to build on,” he added. “The ‘Olympic bounce’ will remind people of the power of live events: there’s no better way to move or inspire an audience.”

Zibrant’s managing director of operations Chris Parnham meanwhile says that the hospitality industry must now capitalise on the positives generated by the Olympics.

“We need to build on this and promote the UK as a great place to do business, using the Olympics – which was a giant meeting in many ways – as a showcase for what we can achieve.”

Prime minister David Cameron agreed with this sentiment, according to telegraph.co.uk, as he has said that while there are still difficulties ahead, the figures from the Office of National Statistics confirms Britain is “on the right track”.