ESSA news
- By: BVEP
- New economic impact analysis by Tourism Economics suggests the UK’s business events industry is forecast to grow 43% by 2026
- However, research also predicts business events sector unlikely to rebound to 2019 levels until 2023 at the earliest, indicating a slower recovery than for the rest of the economy
- With spending on business events plummeting by around 80%of 2019 levels due to Covid
- Attracting more international inbound delegates is key to turbo-charging sectoral recovery, with international delegates estimated to be worth six times more than domestic delegates by 2026 (£1078 for inbound delegates versus £180 for domestic delegates)
- Business leaders call on Ministers to do more to support sectoral recovery, including measures to boost inbound international delegate market by further easing international travel restrictions safely
A new research report published today by the pro-cities advocacy group Cities Restart called ‘The Importance of International Conferences and Business Events to Restarting City Economies’, has revealed that spending on international conferences and business events for the UK is estimated to have been worth £19.4bn in 2019, but following the interruption caused by the COVID-19 pandemic, by 2026 is forecast to be worth £27.6bn, a 43% increase. Although at the low point of the lockdown period spending on business events plummeted by around 80% of 2019 levels due to the pandemic.
The economic impact analysis commissioned by Cities Restart and carried out by Tourism Economics, has further found that inbound international delegates to international conferences and business events are significantly more lucrative than domestic delegates. The research found that in 2019 the average international delegate was worth £864, whereas the value of an average domestic delegate was £154. But by 2026 this is forecast to grow to £1078 for an international delegate and £180 for a domestic delegate. Meaning by then, international delegates will be worth six times their domestic counterparts.
However, the research has also highlighted that the business events industry, which has been one of the sectors hardest hit by the pandemic, faces a number of immediate challenges, with the sector not forecast to rebound to 2019 levels until 2023. Suggesting a slower and more protracted recovery than what many have predicted for the wider economy.
In particular, London’s business events sector, which accounts for 40% of all spending on international conferences and business events across the UK, faces a potentially more challenging future. In part because of its greater dependence on lucrative inbound international delegates. With the research suggesting that in a worst-case scenario spending on business events in the Capital may not return to 2019 levels until 2028 at the earliest. On the upside, if the worst-case scenario is avoided, by 2026 spending on business events in London alone, is forecast to be worth £10bn.
Business leaders are now calling on the Government to introduce additional support measures, particularly those aimed at boosting confidence and attracting delegates back to business events.
Jeremy Rees, Chief Executive of ExCeL London and Cities Restart Advisory Board Member said: “This research further highlights the crucial role business events play in driving positive economic impact in our major cities. Events are a huge catalyst for trade, driving billions of pounds worth of import and export activity, supporting thousands of jobs. They are also a key driver of the visitor economy, helping sectors including public transport, hospitality, accommodation and aviation to thrive. We need to ensure that this vital sector gets the support it needs, including measures to open-up international travel. This will enable the UK to retain a globally competitive, world class sector, that will drive our economy for years to come.”
Kate Nicholls OBE, Chief Executive of UK Hospitality said: “International conferences and business events support an interconnected economic eco-system. People attending these events also spend money on hotels, in restaurants, pubs and bars. The fact is the hospitality sector will not fully get back on its feet, until the business events sector is properly restarted. It is therefore imperative that the Government goes further in restarting and boosting the virtuous economic circle that business events help to drive. First and foremost, the Government must reassure the public and businesses that it is safe to attend events once more, confidence is key.”
Michael Hirst OBE, Chair of the Events Industry Board said: “Business events have a unique role to play is show-casing ‘Global Britain’ to the rest of the world in the post-Brexit economic era, as well as fulfilling the Government’s Tourism Recovery Plan ambition to make the UK the world’s meeting place. This ambition will be realised by a reinvigorated Industry, working together with enhanced support from Government and its agencies, attracting major international conferences to be held here in the UK.”
Gavin Hayes, Director – Aviation and Travel of Cities Restart said: “The message from our research is clear, if we are to effectively enable the rapid economic recovery of our cities post-Covid, then we must ensure we have a thriving business sector once more and capitalise on the economic opportunities they provide. With inbound international delegates set to be worth around six times domestic delegates in the not-so-distant future, we must do far more to attract these international visitors to attend UK-based business events. This must immediately include further steps to relax international travel restrictions safely.”
For further information/to arrange an interview call Gavin Hayes, Director – Aviation and Travel, Cities Restart on 07900 195591
- By: ESSA
The Business Visits & Events Partnership (BVEP), the umbrella body and advocacy group representing the UK events sector, has today published its Shape of Events Report.
- By: ESSA
Today the Association of Event Venues (AEV) has announced the publication of the 2021 edition of the eGuide, with significant updates and major revisions to 10 sections of the document which provides essential and straightforward guidance on best practice to the UK event industry.
- By: ESSA
The Event Industry Alliance (EIA) has announced today, 20 August, that the new edition of its ‘All Secure Standard’ guidance has been prepared in line with guidance published by DCMS / Government and is now publicly available.
- By: ESSA
The Event Supplier and Services Association (ESSA) has confirmed that Barmotion, the branded event hospitality specialist, is the first event supplier to join the association on its new 'ESSA Associate' tier of membership. ESSA Associate membership is a gateway to full membership.
- By: Andrew Harrision
The EIA, comprising of AEO, AEV and ESSA, welcome the Chancellor’s announcement of a new Covid Cancellation Insurance Scheme. The exhibitions sector has been significantly impacted during the pandemic with forced cancellations due to government and local authority restrictions. While we understand the necessary public health restrictions that have been in place, the impact on the sector has been devastating. The uncertainty caused by the pandemic has undermined the insurance market for our sector.
- By: Andrew Harrision
ESSA recently launched a service to support members as we build back towards operational capacity and potentially face issues of over and under supply in certain key operational areas.
- By: Andrew Harrision
ESSA is working on supporting your return to business in a number of ways. One of these areas is supporting your requirements to re-build operationally.
- By: Andrew Harrision
The much anticipated announcement from the Prime Minister to move to Step 4 on the 19th July is a welcome relief to the sector – we finally have our ‘go date’.
- By: Andrew Harrision
The Event Supplier and Services Association (ESSA) held its annual general meeting (AGM) at Dunchurch Park Hotel, Rugby, at 1pm on Thursday July 8, 2021, and welcomed almost 90 member representatives to the first face-to-face ESSA event since December 2019.
- By: Andrew Harrision
The Event Supplier and Services Association (ESSA) has today launched a comprehensive sustainability module to the ESSA Accredited scheme, the organisation’s independently audited, annual company level qualification for its members.
