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January 21, 2015
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UK: Economic Uncertainty will Restrict Meetings Growth




Economic uncertainty in 2015 will result in a ‘flat’ year for the meetings sector, with more planners ignoring London, experts have warned.

Although the UK’s gross domestic product (GDP), is predicted to hit 2.9 per cent in the next 12 months, according to Bank of England figures, fears over subdued growth in Russia, Brazil, China and India, a slowing down of growth in America plus the prospect of another Eurozone financial crisis will result in conservative expenditure, leading economist Chris Williamson told the latest MPI Insights.

And representatives from the supplier, agency and corporate sides of the industry agreed, at the latest edition of Meeting Professionals International UK & Ireland chapter’s educational sessions held at Ironmongers’ Hall in central London.

Mark Riches, MD of international events agency First Protocol, warned this would not be the year when business truly booms, after what Williamson, from financial information specialist Markit, described as what ‘will have been the best year we saw for marketing spend since the financial crisis.'

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