The spending by those accompanying attendees at business events is worth an additional £7.7 billion.8 The direct expenditure by the event management industry, as indicated by statistics, amounts to $56.10 billion, signifying an 8% increase from the previous report. This
figure is equivalent to $56.10 billion. The impact of business events extends further, supporting global economic growth with $2.5 trillion in business sales. Additionally, these events play a crucial role in
generating employment opportunities, contributing to the creation of 26 million jobs worldwide. Furthermore, their contribution to the global GDP amounts to $1.5 trillion, positioning the industry as one of the largest economies globally, ranking 13th in the world
The sector comprises a vast array of businesses totalling over 25,000. This includes event organisers, venues, destination marketing organisations (DMOs), destination management companies (DMCs), exhibition contractors, event production
companies, and a wide range of suppliers. These suppliers encompass various industries, such as transport operators, telecommunications and IT companies, interpreters and translators, speciality caterers, event insurance specialists, and numerous others. As a nation, the UK has made business easier because of having an economy that’s open, liberal, and a mature high-spending consumer market. In addition, the UK is
easy to establish and scale a business due to the ease of start-up and setting up. Businesses can scale up easily because of their language, custom, high talent, and time zone. On the other hand, this platform aims to provide benefits and support the UK economy on a large scale.
Opportunities in the Event Industry
More than 7,000 major outdoor events are held each year. Outdoor events cover a
breadth of activity from major festivals, agricultural shows, and sporting and
charity events to small village and craft events. There was an average annual
increase of more than 1.64 million adults attending outdoor events in the UK.
Overall, venues in the UK hosted roughly 195 thousand conferences and meetings
in 2020, while around 1.4 million business events took place in the United Kingdom in 2019.
The best estimates are that the sector sustains 570,000 full-time equivalents (FTE)
jobs, mostly in small and medium-sized enterprises (SMEs). The top 10 leading
event agencies in the UK have a turnover of more than £3.5 billion, much of which
is generated outside the UK.