Midlands' events sector value soars

The West Midlands’ events industry has quadrupled in value to £6bn, according to a study compiled by consultancy KPMG for Marketing Birmingham and Tourism West Midlands. The escalation in value marks a 77% rise since the last time a similar report was published in 1999, when the NEC Group estimated the local sector to be worth £1.3bn. The new analysis also found that the events industry in the West Midlands supports some 100,000 jobs and generates £800m in tax income for the Treasury. Marketing Birmingham chief executive Neil Rami said: “This is the first time that economic research on our region’s events industry has been commissioned on such a comprehensive scale. This validates what we already suspected, but these results are much stronger and healthier that we had anticipated thought.” Visitors to events and conferences in Birmingham spent £1bn on accommodation at, £424m on food and drink, £266m on travel, £307m on shopping, £204m on entertainment and £211m on other expenditure. Marketing Birmingham has now commissioned a national study from KPMG to provide regional comparisons and thus help lever greater funding. The study’s remit is still under discussion, but February has been pencilled in as the publication date.

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