Corporate hospitality a £1bn market in the UK: report

David Quainton, 26 February 2009

Demand for corporate hospitality in the UK is expected to top £1.25bn by 2013 according to a new report.

In 2008 sales peaked at £1bn, increasing 20% over the last four years.

The findings come in the MBD Commercial Due Diligence's UK Corporate Hospitality Market Development Report.

The next two years are expected to show slower growth of around 2%, but edging towards 2012 and beyond the economic climate is expected to improve, along with the demand for corporate hospitality. In real terms the report predicts a growth of a further 20% between now and 2013.

Despite expected budget cuts spectator sports are "anticipated to retain their majority share of the market, as a result of their reputation as a traditional, popular and nationwide form of corporate entertainment", according to the report.

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