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March 17, 2014
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UK: Meetings Industry Adds £19.9 Billion to Britain's Economy

events are great britain reportConferences and meetings are worth £19.9 billion to the UK in direct spending according to new research.

The figure is released in the ‘Events are GREAT Britain’ report launched by the Business Visits and Events Partnership (BVEP) at International Confex.

Further new research puts a value of £11 billion on exhibitions and trade fairs, while the value of the incentive travel/performance improvement and corporate hospitality segments have previously been estimated at £1.2 billion and £1.2 billion, respectively.

Other statistics revealed in the 143-page report highlight how the 2012 London Olympic and Paralympic Games benefited the UK events sector. Expenditure from business and incentive groups visiting the Games, holding meetings and special events, and extending their stay around Britain is estimated at more than £500 million.

In addition, about £130 million was raised through contracts won by British companies for the Brazil 2014 World Cup and the Rio de Janeiro 2016 Olympic and Paralympic Games on the back of their experience of working at the London Games.

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