Estimated annual value of events industry rises to £42.3bn

The Business Visits and Events Partnership (BVEP) has estimated the value of the events industry will be £42.3bn by the end of this year, a rise of 8.2%.

Michael Hirst, chair of the Business Visits and Events Partnership
Michael Hirst, chair of the Business Visits and Events Partnership

The predictions were made at a Britain for Events industry reception, held at The Mermaid at Blackfriars London last night (19 October).

Michael Hirst, chair of the Business Visits and Events Partnership, said the estimated value of the events industry had now risen from just over £39.1bn to £42.3bn, with the help of attendances and spend at conferences, music festivals and the Rugby World Cup. 

"In the first half of this year, business visits have been the best performing sector of the visitor economy. In the last published ONS figures to June, business visits were up by 11.5% year on year," he added. "All of this not only contributes to the economy but to the community as well. In the destinations across Britain that stage events, there are the benefits of employment, regeneration, inward investment, trade development, knowledge exchange as the industry’s creativity and unrivalled expertise generates business, educational, recreational and social opportunities."

At the same event James Heappey, MP for Wells, was announced as the new chairman for the All Party Parliamentary Group (APPG).

More:

David Cameron announces plans to support events industry with new government board

Britain for Events launches second #NEMO campaign

UK events industry votes Conservative

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