Business events such as conferences, trade shows, exhibitions and product launches generate £33.6 billion for the UK economy, according to the UK Events Report 2024.

The report, compiled by Great Potential Consultancy on behalf of UKEVENTS, the umbrella organisation of the UK’s events industry, revealed that the events industry generates £61.653 billion overall, including leisure and outdoor events such as music festivals, sporting events, and cultural festivals, which contribute £28.053 billion.

The report states that events in the UK are pivotal to the nation’s economy, culture, and social fabric. They not only attract investment and boost visitor spending but also enhance international engagement and facilitate knowledge transfer.

UKEVENTS said the report also highlights the industry’s significance as a driver of innovation, experiences, and marketing, serving both business and consumer audiences.

Additionally, the report points to the industry’s growing focus on sustainability and technological innovation. With an increasing emphasis on carbon neutrality and integrating new technologies like AI, the UK is positioning itself to remain competitive in the global events landscape.

Chris Skeith OBE, Chair of UKEVENTS, commented: “The UK events industry has faced unprecedented challenges over the past few years, but what’s clear from this report is that we’ve not only recovered but are driving forward a growth agenda that will see our sector flourish in the years to come.

“The resilience, adaptability, and innovation within our industry are second to none, and I’d like to extend my thanks to all those involved in putting this report together. Their efforts provide a strong case to share with the UK Government as we advocate for the continued recognition and support of this vital sector.”

UKEVENTS will share the full report with Government stakeholders, underscoring the importance of ongoing support to ensure the UK retains its competitive edge in the international events market.