06 May 2020
The Business Visits and Events Partnership (BVEP) report illustrates the vast economic and societal impact events have in the UK.
Compiled prior to the outbreak of Covid-19, but launched on Tuesday, May 5, it states that in 2019, the events industry was worth £70billion in direct spend and provided 700,000 jobs.
It also concludes that events will have a critical role to play in realigning and revitalising the UK's commercial footprint, after leaving the European Union and the ongoing COVID-19 outbreak.
Business events accounted for £31billion in direct spend last year, with conferences and meetings responsible for £18.3 billion in direct spend, exhibitions and trade fairs for £11billion, incentive travel and performance improvement £1.2 billion and corporate outdoor events £0.7 billion.
In its executive summary, the report says: "This report follows the outlines of the government’s modern Industrial Strategy. It explores ideas, people, infrastructure, business environment and places. The events industry responds to all these elements. Time and time again it has been said that “events tick all the boxes” of a preeminent economic sector that can deliver major opportunities for the UK."
Michael Hirst OBE, Chair, BVEP commented: “The report was compiled in what seems another age, but it will serve to provide testament to the power of events to create change and transform experiences, key requirements in facing and achieving the UK’s future challenges. It’s a critical role which the industry is ready and eager to take on and show how it can deliver for the UK.”
Download The UK Events Report executive summary here.
Download the report in full here.