The 106-page report by the Business Visits and Events Partnership (BVEP) is part of the industry’s Britain for Events campaign.
Conferences and meetings are worth £18.8bn, corporate hospitality £1bn, exhibitions and trade shows £9.3bn and sporting events £2.3bn, the report revealed.
Inbound business visitors spend 193% more than inbound leisure visitors, while UK-based business travellers spend 72% more than those travelling for leisure.
The UK’s business travel and events industry includes more than 25,000 businesses including event organisers, venues, suppliers and DMCs, the report revealed.
However, Visit Britain does not have a subvention fund to provide support for international event bids, putting Britain at a competitive disadvantage in international event bids, the report stated.
House of Commons reception
Vince Cable is among MPs to have backed a meetings manifesto launched by BVEP this year.
The Britain for Events 2010 campaign also includes National Meetings and Events Week, which kicked off yesterday.
Virgin Atlantic, Costa Coffee and Chelsea Football Club are among bodies that have pledged their support for the campaign, which aims to target government and business leaders.