Conference and business events worth £18.8billion

For the first time, the economic impact of the UK conference and business events market can be announced today by Eventia, the voice of the events industry

Eventia today publishes the 2010 ‘UK Events Market Trends Survey’ (UKEMTS) results, providing a vital insight into the current state of the business events industry from a supply-side perspective. 

For the first time, UKEMTS has estimated the overall value of the conference and business events market, and not simply the direct revenue to event venues. The market is estimated to be worth £18.8 billion to the UK economy, including spend at venues and in the wider destination by delegates and organisers. The report explains the methodology used to calculate this total economic impact. It confirms the vital importance and scope of the events sector to the national economy. 

The annual survey (previously known as the ‘British Conference Venues Survey’) is based on data supplied by a representative sample of 403 venues from across the UK, 11.5% of the universe of 3,500 venues used as the basis for research analysis. 

Other key findings include: 

• There were an estimated 94 million attendances at events in 2009 (an estimated 1.32 million events with an average attendance of 71 people)
• There was an average of 379 events per venue in 2009, down slightly on 2008 (an average of 391 events per venue). Hotels and conference/training centres typically hosted more events than other types of venue, with hotels accounting for 61% of all business events
• A further tightening of budgets and a highly price-sensitive market manifested in: more negotiation on rates; shopping around by event organisers seeking better value for money; reduced spend on catering; organisers opting for room-only rather than day delegate packages; and increased use of in-house facilities
• Shorter lead times for bookings. Events are most commonly booked two to eight weeks in advance (36 per cent)
• The average duration of events (1.6 days) remained similar to previous years, although two in three events lasted for only one day or less
• Venues are more optimistic about business prospects than a year ago. 65 per cent of respondents are planning to invest in their property in 2010, nine per cent spending in excess of £1 million. Even so, 35 per cent of venues are not planning any investment in 2010

Izania Downie, Eventia CEO, commented: “UKEMTS is a crucial barometer of what’s happening in the events sector and should be required reading for anyone who needs an informed view of the trends and changes in our sector. Eventia has now been able to provide a robust estimate for the value of our sector, something the industry has long needed. We shall be using this figure and the other market intelligence revealed in this survey for education, marketing and advocacy purposes.” 

The annual UKEMTS survey is supported by major events industry organisations, including Confex Group, CAT Publications, VisitBritain, Conference Centres of Excellence and MeetEngland. The research is conducted across convention bureaux and venues in the UK and aims to measure the key characteristics of the UK events and conference market from a venue perspective and then provide the best possible estimates for volume and value aspects of the market. Specifically it provides detailed data on the volume of events; duration; delegate rates; levels of residential business; source of events (companies, associations, public sector bodies) and whether local/regional, national or international; event size; the value of event activity; venue expectations for future market developments plus feedback on trends in event organiser requirements. 

The 2010 survey was carried out on behalf of Eventia by Tony Rogers (of Tony Rogers Conference & Event Services) and Richard Smith (of TEAM Tourism Consulting). 

Copies of the ‘UK Events Market Trends Survey 2010’, priced at £175, may be ordered from Eventia (email: [email protected] or visit: www.eventia.org.uk).