Event industry tipped to grow by £12bn in next eight years

A report by Britain for Events has found the UK events industry could provide a big boost to Britain's economy over the coming years.

Campaign predicts event industry to be worth £48bn
Campaign predicts event industry to be worth £48bn

The report outlines ways in which the events industry can work with national and local government to make Britain more internationally competitive.

It will be presented to members of parliament today (24 October), and predicts that with the right support the events industry could grow from its existing £36.1bn to £48.4bn by 2020.

In addition to the industry’s economic value, the report also focuses on the benefits of positioning the UK as the centre of international business, and underlines the role events play in bringing together world leaders.

The Event Industry Forum’s Phil Mist said: "With the countdown to the London 2012 Games and the Queen’s jubilee well under way, the UK events industry will undoubtedly again show the world that organising major outdoor and sporting events is one of our specialities, and because of our expertise, the UK economy as a whole will benefit."

Michael Hirst, chairman of the Business Visits & Events Partnership added the report comes at a crucial time for the UK economy: "The UK events sector is well set to play a pivotal role in facilitating economic growth and added employment by showcasing Britain as a world class destination for international conferences and trade shows, as well as staging its great sporting and cultural events and festivals."

Britain for Events is an annual campaign designed to promote the value of event tourism to the British economy.

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