What you need to know
The conferencing and events market was hindered by economic uncertainty in 2018, which led to stalling growth in business-focused segments. However, this setback was countered by an ongoing shift in consumer behaviour, as more people begin to value experiences over material goods.
This shift helped to maintain growth in the sports events and music events sectors, despite slower economic growth and Brexit-related uncertainty weighing down both business and consumer confidence. For consumers, increased wage growth in the second half of the year negated some of these concerns.
The sector’s innate value and resilience is displayed by continued investment, indicating the sector’s strategic and cultural value to the UK economy. Once post-Brexit relations with the EU are decided and expectations solidify, growth is therefore forecast to improve alongside increased growth and demand in the wider economy.
Once the economic climate is taken into account, the sector remains a dynamic market, with both major firms and SMEs increasingly adopting technology to meet the demands of stakeholders for improved value, but also to offer creative solutions and products.
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.
