A guest blog written exclusively for Political Insight by Nick de Bois, Chair, Visit England Advisory Board
Most of us have at some point in our lives attended an exhibition, conference, festival, cultural or major sporting tournament. We of course enjoy the spectacle and relish the event, but few, including policy makers recognise the breadth and depth of industry behind these events.
2019 was a record year for the UK’s events sector. With a direct spend of £70 billion, accounting for over 50% of spend in the UK visitor economy, over 700,000 jobs, and the generation of £165 billion in trade facilitated at business events alone. To give that some perspective during 2019 there were 70,000 people employed in the hugely successful UK film industry, 300,000 in the aerospace and defence sector and 750,000 in the highly successful automotive industry. The events sector sits impressively high up the table of significant employers within the UK economy.
The Covid-19 pandemic has put all of that achievement on hold as the events industry has gone into lockdown. Only now are we seeing the possibility of its re-emergence as a potent economic generator. The sad truth is that it was one of the first business sectors to be hit by Covid-19 and it will be amongst the last to recover. This loss of economic wealth generation is yet to be fully recognised by policy makers and the wider economy. This is why.
The UK events industry has enormous reach across all the key economic sectors that will help drive recovery. The industry is a global leader, internationally competitive, and with an unrivalled expertise. In short the UK events industry has a critical role to play as part of the government’s future industrial strategy to kick-start the economy.
This will be an unparalleled opportunity to use both business and leisure events to showcase the country’s abilities and resources and inject economic stimulus across the country where international congresses and events can be hosted.
As we confront the two great challenges of a pandemic and leaving the European Union, the government recognises the need to realign the British economy, level up across the country and strike out into new as well as existing trading markets. Developing a new position on the global stage was never going to be an easy task but it has always been a vital one. Events once again held in the UK will play a critical role in achieving this, projecting the UK’s place in the world, its strengths, its stature, and the strong, innovative platform of skills and entrepreneurship that run through the heart of this country.
It’s a simple proven fact that events facilitate trade, attract inward investment and drive exports. Scientific and medical events thrive on sharing knowledge and research. It should be no surprise that events drive the visitor economy, but by hosting major international business and government events we can also showcase our sectors, growing the economy – especially for SMEs. We have done it before and the industry needs to be set free as soon as possible to do it again.
There is no doubt events in the UK embrace every part of the economy and support the government’s Industrial Strategy published in 2019, in which events are seen as very much part of the Tourism Sector Deal through the Business Events Action Plan. What is in doubt is how the events industry can retain the skills that are being lost as job losses increase, refill the conference and exhibition centres that remain closed and rebuild the confidence of both businesses and delegates. There is much to be done. I am very pleased to be a part of the business events industry-wide KickStart event that takes place on September 8th which will also be attended by DCMS minister Nigel Huddleston. Policy makers take note.