Industry Research

The Business of Events (TBOE), in partnership with ICC Belfast, has unveiled the highly anticipated Global Destination Report 2024 at IBTM World, presenting an in-depth look at the global business events sector’s evolving landscape. The report explores economic contributions, budget stability, government support, and the need for stronger industry advocacy across regions, while identifying the successes and challenges that continue to shape the sector.

Commissioned by The Business of Events, this year’s report has again been produced in collaboration with SFA Connect, ICC Belfast, and IBTM World, with a focus on insights from industry stakeholders in global destinations.

Building on previous reports, the Global Destination Report 2024 offers critical data and recommendations for industry leaders and policymakers to strengthen the business events sector, drive economic growth, and foster international collaboration.

Scotland’s National Events Strategy 2024-2035 aims to build on the events industry’s many achievements to date.  The strategy refresh has been shaped by the Scottish Government, our Industry and Events Directorate, Scotland’s Events Industry Advisory Group (EIAG), Local Authorities, COSLA, Trade Union representatives, and those who responded to the consultation process.

Scotland first developed a national strategic approach to events in 2008.  Since then, Scotland has:

• successfully established a global reputation for excellence in events delivery
• supported a strong and dynamic events industry
• produced a world-class portfolio of business, sport, and cultural events that contribute significant economic, social, and cultural benefits to Scotland.

The refreshed 2024 to 2035 strategy aims to provide a strategic focus for all those involved in planning, securing, supporting, and delivering events of all sizes in Scotland. It will help build on our status as a world-leading events destination.

The Economic Impact of Exhibitions in the United Kingdom 2023 was published in June 2024 by EIA. The 2023 economic impact study shows the events industry is just shy pre-pandemic levels of economic impact.

Marija Erzen, co-owner, Solutions2, ESSA chair and current EIA chair, commented,

“The report provides vitally important market insight for our industry and includes cumulative comparative data from 2015.”

Results from survey, conducted in February 2024, reflect the response of 117 professionals representing organisations within the business meetings and events sector, with 74 (63%) representing an event venue and 37% an event supplier.

The findings present a positive financial outlook across the sector, with increased forecasts providing optimism for future bookings – which in themselves are on the rise.

Despite this, there are still a variety of matters that we as a sector must keep on the radar. We cannot ignore the vast evolution of events that we are anticipating taking place over the next 12 months.

Just half of venues (50%) are currently prepared for the introduction of Martyn’s Law, while 41% are set to introduce Instant Book this year. These two items alone will bring about significant change to our operations in 2024, so we must ensure we're all equipped to adjust accordingly.