Value of events industry rises 8 per cent to £42.3 billion

And business visits also boomed in the first half of 2015, according to the Business Visits and Events Partnership.

The value of the events industry has risen to £42.3 billion, according to the Business Visits and Events Partnership (BVEP).

The new figure is an 8 per cent rise on the previous value of £39.1bn, announced by BVEP almost two years ago.

And in further encouraging news for the industry, business visits were the best performing sector of the visitor economy in the first half of 2015.

BVEP chair Michael Hirst made the announcements to more than 100 supporters of the Britain for Events campaign as part of National Events Month.

He said: “In the first half of this year business visits have been the best performing sector of the visitor economy. In the last published ONS figures to June, business visits were up by 11.5 per cent year on year.

“All of this not only contributes to the economy, but to the community as well. In the destinations across Britain that stage events there are the benefits of employment, regeneration, inward investment, trade development, knowledge exchange as the industry’s creativity and unrivalled expertise generates business, educational, recreational and social opportunities for us all”.

The Rugby World Cup alone is estimated to have made a £957m contribution to the UK economy.

Hirst told supporters that their efforts had ensured the prime minister’s continued support for the Britain for Events campaign.

A new Events Industry Board has been announced by the prime minister to implement the first ever strategy for the business visits and events sector, aimed at bringing Whitehall departments together to help the industry become bigger and attract more events to Britain.

Credits: Meetings & Incentive Travel Magazine at http://www.meetpie.com/Modules/NewsModule/newsdetails.aspx?t=Value-of-events-industry-rises-8-per-cent-to-42-3-billion&newsid=21767