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13 Jun 2024

Events industry contributes £10.9 billion to UK economy.

Events industry contributes £10.9 billion to UK economy.

The business events 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).

Marija Erzen, co-owner, Solutions 2 (UK) Ltd, ESSA and EIA chair, commented, “We are delighted with the results of our latest economic impact report. A 17% 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.”

Erzen added, “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 over 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.”

Parker continued, “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 good of the events industry. 

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  • The events industry is only as good as the sum of its parts – the EIA represents all parts of our amazing industry. We are members because together we are so much stronger and are therefore so much better placed to deal with both our challenges and the massive opportunities that lie ahead.
    Simon Parker
    CIBSE
  • The EIA serves as the quintessential industry forum and working group representing the cornerstones critical to all events; the organiser, the venue and the supply chain providing goods and services to the sector. Whilst it’s always been a valuable alliance for the industry, in these times of post-pandemic economic uncertainty and geo-political challenges, the ability for the industry to convene, confer and communicate as a unified sector is imperative as we seek to grow and have an even greater impact on the UK’s social and economic landscape.
    Shaun Hinds
    Manchester Central
  • The EIA is a great forum for collaboration between three of the major UK business events associations. It’s so important as an industry that we speak with one voice, that we collaborate on the biggest issues that we face and that we build mutual understanding and respect. The EIA provides the opportunity to do all of these things and is a made more powerful by all of our contributions.
    Carina Bauer
    IMEX

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