What you need to know
The conferencing and events market weathered uncertain conditions in 2017. The market maintained strong growth despite an unpredictable political and economic climate, whilst overcoming a further decline in the value-dominant conferences and meeting sector.
This resilient growth was seen in both the business and consumer markets. In the former, demand was maintained by GDP growth and continued acknowledgement of the networking, client and staff retention value upheld by the industry, and as a means of boosting profitability. Meanwhile, consumer-orientated sectors were driven by strong demand across the leisure industry, much of which is tied to the emerging experience economy.
Looking forward, the industry is expected to continue its positive trajectory, though the rate of growth could be weathered by the outcome of Brexit negotiations. Nonetheless, market value is expected to grow further, distributed healthily along the marketplace, which contains a wealth of booming SMEs alongside major players.
Covered in this Report
For the purposes of this Report, Mintel has used the following definitions:
Conferences and meetings: formal meetings in which people gather to talk about particular topics.
Exhibitions and trade fairs: Exhibitions are public displays of objects, art, fashion, ideas etc., while trade fairs are organised so that companies in a specific industry can showcase their latest goods and encourage trade.
Sporting events: any audience-attended sports games and matches, from single events such as football matches to extended tournaments such as Wimbledon and the Olympics.
Music events: live music displays that come in several formats, from gigs and concerts to multi-day festivals.
Incentive travel and performance improvement: business-related travel intended to acknowledge achievements, provide motivation, and help drive productivity and overall success.
Corporate hospitality: the entertaining of clients by companies to promote business, especially at sporting or other public events.
Outdoor events: outside gatherings, ranging from flower shows, agricultural shows and charity events, to small village fairs and craft events.
Festivals and cultural events: often large-scale activities surrounding special events, such as Christmas, bonfire night or Edinburgh Fringe, or cultural events such as Diwali, Chinese New Year and Notting Hill carnival.
