Corporate events generate £33.6 billion annually for the UK economy, according to a new report - £5 billion more than leisure and outdoor events.
The UK Events Report 2024 shows that corporate events such as conferences, trade shows, exhibitions and product launches, make up more than half of the UK's wider events industry, which is worth £61.6 billion annually. Leisure and outdoor events such as music festivals, sporting events, and cultural festivals contribute just over £28 billion per year.
The report, commissioned by UKEVENTS and compiled by Great Potential
Consultancy, highlights the industry’s critical role in the economy and affirms its resilience following the
challenges of the pandemic.
Key findings from the report include:
- A shift in employment dynamics, with more
freelance roles and stabilising salaries after the pandemic-induced demand
for talent.
- International trends are shaping the future of events, such as the rise of incentive travel and increased spending on meetings.
- A growing focus on sustainability, with an increasing emphasis on carbon neutrality.
- Technological innovation is at the fore, as the UK integrates new technologies like AI, positioning itself to remain competitive in the international events landscape.
Chris Skeith OBE, chair of UKEVENTS, commented: "The
UK events industry has faced unprecedented challenges over the past few years,
but what’s clear from this report is that we’ve not only recovered but are
driving forward a growth agenda that will see our sector flourish in the years
to come.
“The resilience, adaptability, and
innovation within our industry are second to none, and I’d like to extend my
thanks to all those involved in putting this report together. Their efforts
provide a strong case to share with the UK Government as we advocate for the
continued recognition and support of this vital sector.”
The report shows that the UK is poised
to continue its trajectory of growth, with business events, exhibitions, music
festivals, and sporting events leading the way.
UKEVENTS is set to share the
full report with Government stakeholders, underscoring the importance of
ongoing support to ensure the UK retains its competitive edge in the
international events market.
