Confex 2014: Events industry worth £39.1bn

The events industry is worth £39.1bn in terms of direct visitor spend at events, up from £36.1bn last year, accounting for 35% of the total UK visitor economy.

Events are Great Britain report published today
Events are Great Britain report published today

This is according to the Events are Great Britain report, which was unveiled today (13 March) at International Confex. The report, compiled by the Business Visits & Events Partnership, follows on from the Britain for Events report launched in 2011.

The report breaks down the direct spend on events by segment, reavealing that outdoor events and festivals and cultural events each account for £1.1bn, music events for £1.3bn and sporting events for £2.3bn.

Exhibitions and trade fairs represented £11bn of total spend, while corporate hospitality and corporate events accounted for £1.2bn. The largest spend by segment was on the conferences and meetings sector, which accounted for £19.9bn. 

The report looks at a range of issues such as sustainability, education, innovation and partnerships. 

Michael Hirst, chair of the BVEP, said: "It takes into consideration many market changes in what has been a challenging but ultimately successful four years for the UK events industry. The UK government is investing £145m into the Great campaign and we took the decision, as key beneficiaries of both its tourism and business activity, to brand the report Great.

"By becoming part of the Great campaign, the events industry can demonstrate how its activities support Britain’s industries. We can show that events are an intrinsic part of the government’s claim that Britain is a great place to partake in business and cultural experiences, and a great country in which to do business, to export from, to invest in, to learn in, to visit and of course to hold and attend meetings and events."

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