Table of Contents
In spite of the ongoing economic crisis within the UK and across Europe, Key Note estimates the exhibitions and conferences market to have grown by 2.1% in 2012, helped in part by a number of high-profile events held in the country during the year, including the Queen’s Jubilee celebrations and the 2012 Olympic and Paralympic Games. These events, along with improvements within rail infrastructure and the development of new transport links, such as the Emirates Air Line cable car over the River Thames, which provides a direct connection between The O2 arena and the ExCeL London exhibition centre, have served to boost international and domestic trade within the UK’s exhibition and conferences market. Nevertheless, the unstable economic conditions experienced within the UK have had an impact, with recent figures from Eventia showing that conference delegate fees fell in 2011, while the number of conferences held in the country has reduced year-on-year between 2009 and 2011.
The poorer-than-average weather during the summer of 2012 has also had a dramatic affect on the market over the past year, with a number of regional shows being cancelled, while other popular events, such as BBC Gardeners’ World Live and the BBC Good Food Show Summer, saw attendance fall, after registering a 13% drop in visitor numbers in 2012. However, this is likely to have been offset somewhat by attendance figures at other event venues with links to the Olympic Games, with the ExCeL London centre registering visitor numbers of more than 1 million during the 16-day Olympics programme, while Earls Court reported attendance of more than 500,000 during the Games. The sporting event also served to boost revenues across London hotels and venues used for conferencing, while meeting space occupancy was also found to have risen in the capital significantly.
While the 2012 Olympic and Paralympic Games are likely to have boosted business opportunities across the UK during the past year, the majority of organisations are still thought to be constrained by tight marketing budgets following the double-dip recession, which has affected business travel and event attendance figures, as well as participation and expenditure. Upcoming changes to Air Passenger Duty (APD) scheduled for April 2013, which will see increases across airplane fees, may also have a negative effect on international business travel to the UK, with some industry insiders raising concerns that these increases may dampen the positive influence of the Olympics legacy. However, continued Government investment into the UK’s rail infrastructure, along with the expansion of the Eurostar to new destinations in Europe, could offset this somewhat. With this in mind, Key Note predicts year-on-year steady growth for the UK exhibitions and conferences market between 2013 and 2017, with growth strengthening as the economy begins to recover from 2014 onwards.
Get Industry Insights. Simply.
Talk to Veronica
+1 718 514 2762
“Increasing popularity of hunting games, shooting sports, and need for precision shooting are expected to drive the riflescope market during the forecast period” The riflescope market is estimated ...
Market Insights The global artificial turf market was USD 2416.50 in 2012 and is expected to reach USD XX million by 2021, witnessing a market growth of XX% during the forecasted period (2017 - 2022). ...
Market Insights The Global Sports Analytics Market is valued at USD 0.116 billion in 2016 and is expected to reach a value of USD 1.22 billion by the end of 2022, growing at a projected CAGR of 39.86% ...