UK events industry worth £36.1bn according to report

The events industry in the UK is now worth more than £36.1bn, according to a new report.

The ‘Britain for Events’ report which is out today, highlights the contributions from each sector including conferences and meetings, exhibitions and trade shows, sporting and music events, as well as corporate hospitality, outdoor events, festival and cultural events and incentive travel.

It is essential Britain’s events industry continues to attract major shows and meetings to the country’s event spaces. According to the report, business visitors spend an average of £131 per day, which is 72 per cent more than those travelling to the country for leisure purposes. Overseas visitors to UK exhibitions were found to spend 193 per cent more a day, than in bound leisure visitors.

Trade shows and other exhibitions held in the UK are estimated to be worth more than £100bn, providing vital income to conference centres, hotels, restaurants and bars not to mention the multiple employment opportunities that are created.

The report was commissioned by the Business Visits & Events Partnership (BVEP). Chair Michael Hirst OBE told Meetpie: “BVEP celebrating its 10th anniversary in 2010, has worked together with the support of the entire events community to compile this report in order to communicate the value of this vital industry and influence policies favourable to its continued growth.”

“The report is one of a number of initiatives undertaken by the BVEP to position the sector at the forefront of thinking by both the government and the wider business community. It identifies trends and opportunities and highlights key issues and challenges which if not addressed, could undermine Britain’s position as one of the leading players in this highly competitive, global marketplace. Properly supported, Britain’s events can help rebuild and re-balance Britain’s economic prosperity,” he added.