British Meetings Industry Worth $56.5 Billion, Report Says

In the United Kingdom, the meetings industry is worth over £36.1 billion annually in economic impact, or $56.5 billion, according to a new report from the Business Visits and Events Partnership (BVEP), a group of British meetings organizations whose mission is to "lead the way in supporting a competitive, high-quality, and more profitable business visits and events sector in Britain."


In a report titled "Britain for Events," published last week, BVEP finds that British conferences and meetings are worth £18.8 billion annually, or $29.4 billion; that British exhibitions and trade shows are worth £9.3 billion, or $14.6 billion; that British sporting events are worth £2.3 billion, or $3.6 billion; and that Britain's corporate hospitality industry is worth £1 billion, or $1.5 billion.

Further, the report shows that international business travelers spend 193 percent more than international leisure visitors in the United Kingdom, and that domestic business travelers spend 72 percent more than domestic leisure visitors.

BVEP presented its findings to the British House of Commons on Oct. 20 as part an ongoing industry effort at raising awareness around the value of face-to-face meetings. For more information, visit www.britainforevents.co.uk.