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Event industry may grow by 12 billion by 2020

A report presented to members of parliament earlier this week states that, with the right support in place, the UK events industry could grow from its current value of 36 billion to over 48 billion by 2020.

Commissioned by Britain for Events, the annual marketing campaign promoting the value of event tourism to the British economy, the report shows that the UK events industry could provide a much-needed boost to Britain’s economy over the next decade. As well as the industry’s economic value, the report highlights the benefits of positioning the UK at the centre of international business and the role that events play in bringing together world leaders. The report also outlines ways in which the events industry can work with national and local government to make Britain more competitive internationally.

Phil Mist of the Event Industry Forum commented, “With the countdown to the London 2012 Games and the Queen’s Jubilee well underway, the UK events industry will undoubtedly again show the world that organising major outdoor and sporting events is one of our specialities, and because of our expertise, the UK economy as a whole will benefit.”

According to Michael Hirst, Chairman of the Business Visits & Events Partnership, the report comes at a crucial time for the British economy: “The UK events sector is well set to play a pivotal role in facilitating economic growth and added employment by showcasing Britain as a world class destination for international conferences and trade shows, as well as staging its great sporting and cultural events and festivals.”

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