New Report Outlines Event Industry Role in UK Economic Growth

24th October 2011

A new report circulated amongst Members of Parliament outlines ways in which the UK events industry can work together with national and local government to increase Britain’s competitiveness internationally, and provide a boost to the economy.

The report highlights opportunities for growth in the UK Events Industry and speculates that with the right support the industry could grow dramatically from its existing £36.1 billion, to £42.2 billion in 2015 and £48.4 billion in 2020. 

The report, presented to the All Party Parliamentary Group for Events (APPG) and other Members of Parliament, including some Private Parliamentary Secretaries to Ministers, was compiled jointly by the Events Industry Forum and the Business Visits & Events Partnership.

The report also demonstrates the major growth opportunity the UK events industry could play for UK plc, and to protect the estimated 25,000 companies that rely on it.

Outlined within the document are several strategic aims of the UK events industry and  specific rolesindustry, parliament, local government and national government must play in making Britain more internationally competitive. The report acknowledges the UK industry’s ‘hard earned global reputation’ and the need to continue to make Britain more competitive in the face of fiercer international competition.

“This is not just about coming cap in hand to government, but about a collaborative effort to work together,” comments Nick de Bois, MP. “Events in Britain represent a major opportunity for growth for UK plc and a chance to underline our place as a centre for global business.”

On top of the economic value of the industry, the report also focuses on the ‘invisible benefits’ of meetings and events, supporting UK export and positioning the UK as the centre of international business, intelligence and knowledge sharing. It also underlines the vital role events play in bringing together ‘global leaders and thinkers to discuss, debate, learn and share’.                                                                                                                                               

Phil Mist, representing the Event Industry Forum who provide the secretariat to the APPG said, "With the countdown to the London 2012 Olympic and Paralympics Games and The Queen’s Jubilee well under way, the UK events industry will undoubtedly again show the world that organising major outdoor and sporting events is one of our specialities, and because of our expertise, the UK economy as a whole will benefit accordingly".

Michael Hirst, Chairman of the Business Visits & Events Partnership added, "This report comes at a crucial time for the UK economy as the government considers its growth agenda. The UK events sector is well set to play a pivotal role in facilitating economic growth and added employment by showcasing Britain as a world class destination for international conferences and trade shows, as well a staging its great sporting and cultural events and festivals".

This year’s Britain for Events campaign will launch at The Deck on the 27thOctober, delegates are encouraged to register early to attend the event as space is limited.

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