A new report from the Association of Exhibition Organisers (AEO) estimates that the economic impact of the UK exhibitions industry is considerable, generating around £9.3bn in expenditure in 2004.
Certainly the industry, both conferences and exhibitions, had a very good year in 2004. Key Note estimates growth across the two sectors at 45% over 2003.
Although there is some convergence between exhibitions and conferences (both of which are increasingly described as `events'), with more conferences and exhibitions pertaining to specific vertical sectors running alongside each other, data collected from organisers and venues tend to be reported separately. For this reason, this report examines the industry in terms of exhibitions and conferences — both of which performed well in 2004.
The industry received more good news in July 2005 with the news that London had been successful in its bid to host the 2012 Olympic Games. This news was almost certainly a deciding factor in the agreement to build a new International Conference Centre in London. In addition, the Games will continue to act as a spur for the industry to make improvements across the board, in infrastructure, service quality, training and health and safety.
It will also encourage industry representatives in the form of the various trade associations to look more seriously at how the industry is measured and reported, and Key Note expects to see some consolidation in this area in the future to allow a more integrated approach.
Almost certainly, the build up to the Olympics will create opportunities in areas that have not yet been thought of, on top of a whole new collection of extra associated meetings and conferences that will take place.
However, before the London Games there are the Beijing Olympics and, with China increasing its economic powers, London will need to work harder to compete.
Just as the exhibitions industry is proving itself as an important element in the UK economy, business tourism and organisations such as Visit Britain are increasingly recognising its importance, especially tourism related to conferences and exhibitions.
All of this serves to raise the profile of the exhibitions and conferences industry within the greater economy. It also allows the same kind of recognition, at Government level, of the industry's importance to the economy as is recognised in other countries, both across Europe and in the emerging economies in the Far East and Middle East.
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