The government is being urged to reverse cuts to business events support and develop a dedicated national strategy after MPs warned the sector risks losing ground to international competitors.
A new report from the Culture, Media and Sport (CMS) Committee concludes that the UK's £33bn business events industry is being held back by a lack of strategic government support, despite its significant contribution to economic growth, trade and employment.
The cross-party committee has called on ministers to treat business events as a distinct, trade-focused sector rather than subsuming it within tourism and major events policy. Among its recommendations are maintaining funding for promoting business events overseas, reviewing the recent reduction of VisitBritain's business events team, simplifying visa processes and developing a long-term national strategy for the sector.
The report comes just weeks after the government confirmed the withdrawal of ringfenced funding for VisitBritain's Business Events Growth Programme (BEGP), prompting widespread concern across the industry.
CMS Committee chair Dame Caroline Dinenage MP criticised the decision.
"The Government's decision to slash support for business events is utterly irrational and entirely counterproductive, when we should be supporting the sector to boost economic growth.
"It's time for the Government to show it understands the importance and distinctiveness of the business events sector."
The report follows an inquiry launched in 2025, during which industry representatives argued that business events are frequently overlooked in wider discussions around major events despite generating more than £33bn annually for the UK economy and supporting hundreds of thousands of jobs.
EIA backs recommendations
The Events Industry Alliance (EIA), which gave evidence to the inquiry, welcomed the committee's findings and called on ministers to act swiftly.
Among the recommendations backed by the EIA are transferring responsibility for business events from the Department for Culture, Media and Sport to the Department for Business and Trade, creating a dedicated government strategy for the sector and increasing ministerial engagement with major business events.
Rachel Parker, director of the EIA, said the committee had produced "a clear and constructive way forward".
"The evidence is overwhelming and the opportunity is real. What the sector needs now is for government to match the Committee's ambition with action: a clear strategy, consistent ministerial backing, and an end to cuts that pull in the opposite direction."
The EIA argues that placing business events within the Department for Business and Trade would better reflect the sector's role in supporting the UK's industrial strategy and attracting international investment.
VisitBritain cuts under renewed pressure
The report also intensifies scrutiny of the government's recent changes to VisitBritain's business events function.
The EIA highlighted that the Business Events Growth Programme delivered a reported 35:1 return on investment, generating around £60m of business for the UK in its final year while supporting bids for international congresses and exhibitions.
It warned that reducing the specialist business events team from nine staff to two, alongside the removal of the programme, risks weakening the UK's ability to compete internationally at a time when rival destinations are increasing investment.
The report echoes those concerns, calling on government to maintain funding for international promotion and reconsider the restructuring of VisitBritain's business events operation.
A growing global opportunity
The committee's recommendations come as the global business events market continues to expand.
The EIA estimates the sector is growing by around 5 per cent annually, with the global market expected to reach $1.6tn. It also points to recent multi-billion-dollar acquisitions of major exhibition organisers, including UK-headquartered CloserStill and Hyve, as evidence of continued investor confidence in the sector.
The alliance argues that without stronger government backing, the UK risks losing market share to countries including Germany and Ireland, both of which have long-term national business events strategies already in place.
The government will now consider the committee's recommendations before issuing a formal response.
