Exhibitions in the UK attract more than 13 million visitors every year, Michael Hirst chairman of Business Visits & Events Partnership (BVEP) revealed on Day Two of International Confex.
The Events are GREAT Report was launched today (13 March) at Olympia London, and identified both the opportunities and challenges the events industry faces in the UK.
According to the report, the events industry contributes £39.1bn to the UK economy, in terms of direct visitor business spend, with exhibitions and trade fairs contributing £11bn to that total. Conferences and meetings supply £19.9bn to the economy, outdoor events £1.1bn and music events £1.3bn.
“The 2012 Games proved that Britain is onto a winner when it backs its events businesses. Continued backing of these businesses will secure even more medals for Britain,” said Hirst. “The report tells us that now is the time to build on the success of 2012 by recognising what the industry can offer to the economy and the nation’s lifestyle.”
The research for the report began in March 2013 and has compiled existing information and data supplied by industry associations, organisations and individuals.
Tony Rogers, member of the BVEP said the aim of the report is to “increase understanding and recognition of the value of business events in terms of professional development, knowledge transfer, investment generation and technical process.”
The report stated that the events sector is served by 25,000 businesses employing 530,000 people, and the top 10 leading event agencies in the UK have a turnover of more than £2bn, “much of which is generated outside the UK”.
“Over £1bn of new infrastructure investment is being stimulated by events. Major cultural events are recognised as significant drivers of national and regional performance, of physical and social regeneration and of cultural development,” Rogers added.
“The events industry has value beyond just economic value. It exports inward investment, develops infrastructure, tourism, shaping of destination identities and professional development.”
This morning, MOBO Awards founder Kanya King announced a new move into the movie world.
By Annie Byrne.
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