New report values UK events industry at £39.1bn

Report shows a £3bn growth in 5 years

9 April 2015
A newly published report from the Business Visits & Events Partnership (BVEP) has found the UK events industry to be worth a staggering £39.1bn, representing an incredible 3bn increase in value in just over 5 years.

In addition, the report found that business visits and events now accounted for 30% of the whole UK visitor economy. The report also concluded that the events sector now employs 530,000 people in 25,000 event businesses.

BVEP Chairman Michael Hirst, OBE, congratulated the UK’s performance and said the events industry now provided another major platform for showcasing Britain’s greatness to the world.

Michael Hirst went on to say that “Britain is onto a winner when it backs its events industry,” and also suggested the newly proposed figure was “extremely conservative”, suggesting growth would almost be a certainty in 2016.

The report’s breakdown of the broad events sector and its respective values can be seen below:
  • Conferences and meetings - £19.9bn
  • Exhibition and trade fairs - £11bn
  • Incentive travel and performance improvement - £1.2bn
  • Corporate hospitality and corporate events - £1.2bn
  • Outdoor events - £1.1bn
  • Sporting events - £2.3bn
  • Music events - £1.3bn
  • Festivals and cultural events - £1.1bn.
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