£1bn corporate hospitality industry set for slow growth: report

The £1bn UK corporate hospitality market is only expected to grow 1% this year according to the latest market analysis.

£1bn corporate hospitality industry set for slow growth: report
£1bn corporate hospitality industry set for slow growth: report

MBD’s The UK Corporate Hospitality Market Development Report suggests the market had a 5% decline in 2009, which saw turnover fall to a five-year low of £933m.

The research suggests demand for corporate hospitality will grow as the London 2012 Olympics draws near, growing 11% in real terms between this year and 2015.

According to the report  the slow economic recovery is expected to continue to encourage a number of UK companies to scrutinise their corporate hospitality budgets and will prevent a huge growth in the sector. Many experts believe that sporting events sponsors will continue with fewer existing deals when the renewal period arrives and that will impact the market.

For a full analysis of the MBD research look out for the September edition of Event.

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