£800m wiped off value of UK events industry

Eventia report finds that events were worth £7.2bn in the three years to 2008

Eventia report finds that £800m has been wiped off value of UK events industry in the last three years
Eventia report finds that £800m has been wiped off value of UK events industry in the last three years

£800m has been wiped off the value of the UK events industry over the last three years, according to an Eventia survey.

The value of the UK events market based on direct revenue to venues fell from £8bn over the three year period from 2005 to 2007 to an estimated £7.2bn in the 2006-2008 period, according to the 2009 UK Events Market Trends Survey released today by Eventia.

Eventia surveyed convention bureaux and venues throughout the UK to produce this year's report.

Among its other findings were that 44% of venues have postponed product investment and refurbishment work originally planned for 2009.

However, a third of surveyed venues plan to invest more than £100,000 in improvements, and 9% intend investing more than £1m this year.

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