The exhibitions industry helped to boost the UK economy by £10.9 billion in 2023, according to a new economic report by the Events Industry Alliance (EIA).
A total of 1,016 exhibitions in the UK in 2023 involved approximately 6.9 million visitors and 131,000 exhibitors. This generated £4.8bn of direct spending, which works out at £37,000 per exhibtor in the UK.
Based on a total economic impact of £10.9bn and a total UK capacity of 0.6 million sqm, the total output per sqm of capacity came to approximately £18,000.
Marija Erzen, co-owner of Solutions 2 (UK) Ltd and ESSA and EIA chair, said: “A 17 per cent growth in the events industry between 2022 and 2023 demonstrates that whilst other areas of the economy are struggling the events industry is growing exponentially in a challenging economic environment and with little help from the Government.
“These figures bring us just shy of our pre-pandemic levels of economic impact (£11bn) and the events industry’s strong growth really demonstrates our potential and resilience as an industry during an economically challenging year for many. We hope that these positive figures encourages the next Government to really notice and pay attention to our industry.”
Particularly promising is the increase in the number of events. The recent Size and Scale Index for Exhibitions (SASIE) report, published earlier this year, revealed more than 1,000 exhibitions were held in 2023, demonstrating the industry’s resilience and innovation in the face of economic challenges.
Rachel Parker, director, AEV and EIA said, “The number of exhibitions over the last year is really promising, including both new and long standing repeat exhibitions. The dynamism of the sector to move with new trends and trades when they emerge in the economy is a particular strength and one that we hope to see more of in the future.
“The positive growth in the industry feeds into other areas of the economy and helps explain the dynamic and far reaching potential of the industry, so it is not only the events industry that benefits from the growth of the sector.”
Beyond the events themselves, the 6.9 million attendees generate substantial spending in hospitality, travel and hotels. In 2023, the events industry made a significant contribution to the UK GDP, valued at £5.5 billion, and helped to support 114,000 jobs, both directly and indirectly.
Working on behalf of the events industry associations, the Association of Event Organisers (AEO), the Association of Event Venues (AEV), and the Event Supplier and Services Association (ESSA), the Events Industry Alliance (EIA) provides a secretariat and platform to work together to achieve common objectives for the events industry.
The report is available for download via the EIA website.
