Tracy Halliwell , director of tourism , conventions and major events , London Convention Bureau , reveals the value of live events to the capital
ondon is a diverse city and a dynamic events destination , with a global reputation for successfully hosting many of the world ’ s largest business events .
From Sibos and One Young World in 2019 to the annual London Tech Week festival and Cognition X Conference , business events in London play an integral part in the UK capital ’ s success as a global business hub .
Now , as the pandemic presents London with its biggest challenge in living memory , the business events industry has a critical role to play in helping London and the UK economy recover .
The overall UK events industry is worth £ 70bn [£ 84bn with weddings included ], and London ’ s share of this figure makes up almost a third , at £ 23bn . Last year , nearly four million business tourists visited the city , spending a total of £ 3.63bn .
Business events support over 1,500 venues and 140,000 hotel rooms in the capital . From its royal palaces and distinguished museums to purpose-built conference centres and high-tech venues , London offers a diverse range of venues unrivalled elsewhere in Europe .
Not only do business events bring essential business to our restaurants , hotels and cultural attractions , they generate new business opportunities which in turn bring new inward investment projects and jobs to the UK . This makes business events , both big and small , vital to London ’ s success in trade , investment , employment and positive social progress .
We also know that 40 % of delegates stay on in London with friends and family for business or tourism purposes , bringing further economic benefit to the city . London ’ s rich mix of culture , heritage and creativity , alongside its award-winning museums and theatres , make the city an attractive place to explore for business tourists . As Europe ’ s biggest tech hub , as well as a world leader in the creative , finance and life sciences sectors , London is well-placed to attract global events across a number of sectors . These business events
“ We have seen London ’ s events and venues adapt quickly , embracing new technology to host hybrid events whilst larger events are not possible .”
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London invaluable opportunities for these sectors to exchange ideas and grow revenue . They also help London ’ s startup ecosystem to build their network and engage with sector experts .
There is a consensus from business leaders across multiple sectors that the experience of face-to-face meetings cannot be replicated by a purely online environment . We have seen London ’ s events and venues adapt quickly , embracing new technology to host hybrid events while larger events are not possible .
London is well placed to be at the forefront of this next generation of international events , providing access to the creative and technical expertise to deliver events with ground-breaking hybrid technology . The last six months have seen every single person in London ’ s event industry affected , and for anyone losing their job or business , it is devastating . However , it is the grit and determination of London ’ s business events industry that will see the industry through these dark times .
London has always been a city that is constantly reinventing itself and adapting to challenging circumstances . It is unrivalled in Europe with its mix of historic venues , new hotels and urban developments , alongside being a world-leading tech hub and global business centre . I am optimistic the business events industry in London will recover . www . conference-news . co . uk