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Report outlines event industry role in UK economic growth
posted on: 24/10/2011 10:33:07
A new report outlining ways in which the UK events industry can work together with the UK Government to increase Britain’s competitiveness internationally has been circulated to members of Parliament.
The report, compiled by the Events Industry Forum (EIF) and the Business Visits and Events Partnership (BVEP), highlights opportunities for growth in the UK Events Industry and speculates that with the right support the industry could grow dramatically from its existing £36.1bn, to £42.2bn in 2015 and £48.4bn in 2020.
It suggests, with the right governmental support, the events industry could provide a healthy boost to the economy and 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.
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,” said 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’.
"This report comes at a crucial time for the UK economy as the government considers its growth agenda,” said Chairman of the BVEP Michael Hirst. “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 27 October.