GA Post 16 and HE Committee 13 The Economic Impact of Meetings and Business Events in Britain Alan Marvell, University of Gloucestershire The UK events industry generates over £39 billion of revenue per annum representing 35 percent of the UK visitor economy. The events sector is a significant employer having over 25,000 small and medium-sized enterprises (SMEs) employing over 530,000 people. Business events include conferences, meetings, product launches, training courses, incentive travel and exhibitions (Rogers, 2013). They relate to specific organised events from meetings of two or three people to larger gatherings of hundreds or thousands of people. Business events contribute over £21 billion to the UK economy and each year there are approximately 1.25 million meetings held in Britain attracting over 13 million visitors (see Figure 1). These meetings help Figure 1 Number of business meetings in Britain to promote the country as a centre of trade and commerce which in turn attracts companies to invest in the UK economy. Although meetings and business events can be found in all sectors of industry, the most prominent examples include oil, gas and petrochemicals, medical and pharmaceuticals, computing, information technology and telecommunications, automotive and manufacturing, financial and professional services, food, drink and tobacco, travel and transport (BVEP, 2014). U UK Events Market Trends Survey (2014) from Rogers (2014) The UK maintains a global presence as a preferred location for business events. The International Congress and Convention Association (ICCA) produce a set of statistics each year that reveal the top international meeting countries and cities. The criteria used is very specific and includes: meetings that are organised by international associations, are international in character, are convened on a regular basis, have at least 40 percent of participants from countries other than the host country, have at least 5 nationalities represented, last for at least 2 days, have a concurrent exhibition, have at least 50 participants and rotate between a minimum of three countries (ICCA, 2014). Although the UK is ranked #5, and London #7, there is room for improvement in terms of attracting large global business events to the country on a frequent basis (see Figure 2). Many overseas visitors travel to participate in meetings and events as 23.5 percent of inbound visitors to Britain travel for the purpose of business; this in turn generates £4.4 billion for the British economy. Most overseas business travellers originate from the USA, Germany, France, Irish Republic, Netherlands, Italy, Belgium, Spain, Denmark and Switzerland (Visit Britain, 2012). Business travellers tend to spend more than leisure tourists and are more likely to stay in four and five star accommodation, the average stay being 2.2 nights. The choice of hotel is important for the business traveller with the key considerations being location, price, an existing corporate account and the quality of the hotel, including the range of facilities.