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

• For more breaking news and in-depth features, sign up to C&IT Magazine's daily Newstracker here  

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
C&IT Awards: And the winners are...

C&IT Awards: And the winners are...

Here's who this year's panel of esteemed judges crowned winners at The C&IT Awards 2018, in association with Meet In Ireland and Dublin Convention Bureau.

C&IT A-List FAM trip to Bergen

C&IT A-List FAM trip to Bergen

Earlier this month a collection of 2018's A-Listers were taken on a FAM trip to Bergen in Norway.

Top 3 agency challenges for retaining young talent

Top 3 agency challenges for retaining young talent

Agencies told C&IT what their top 3 challenges are for employee retention, as part of our Young Talent Report.

'Let's look after ourselves, our peers and our people'

'Let's look after ourselves, our peers and our people'

Eventwell's wellbeing huddles included topics such as work/life balance, stress management and physical and mental health.

Strong performance for BCD M&E in first year of trading since Zibrant acquisition

Strong performance for BCD M&E in first year of trading since Zibrant acquisition

Agency in healthy position after two major acquisitions in past two years, reporting rise in profit and turnover.

Waldorf Astoria Las Vegas Hotel & Residences opens on the Strip

Waldorf Astoria Las Vegas Hotel & Residences opens on the Strip

Former Mandarin Oriental with 389 rooms and 1,100sqm of event space will be redesigned in 2019.

New director of PR and marketing for INVNT

New director of PR and marketing for INVNT

Brea Carter will be based in the agency's Sydney office, having previously worked for FreemanXP in the UK.

Audiences are changing, events must too

Audiences are changing, events must too

Jez Paxman, creative strategy director at Live Union, discusses the changing tastes of audiences in an experience economy.

How to retain young talent

How to retain young talent

Powwow reveals what can be done to ensure holding on to young talent is easy.

The DMC Advantage announces new Poland partner

The DMC Advantage announces new Poland partner

Partnership with DMC Poland takes the total number of DMC partners to 18.

LATEST JOBS