News Item: Conference, Exhibition and Trade Fair Sector Could Miss Out On Growth Without Government Action, MPs Warn
The UK’s multi-billion-pound conference, exhibition and trade fair sector risks falling behind overseas competitors and missing out on valuable economic opportunities unless there is a new focus and commitment to funding from government.
The warning, in a report from the Culture, Media and Sport Committee, follows an evidence session in December where witnesses emphasised that the requirements of the business events sector, which generates more than £33 billion a year and support hundreds of thousands of jobs, are often overshadowed within broader discussions of major events.
Concluding that the government’s current approach is limiting the ability of the sector to compete internationally, the report calls for business events to be seen as a distinct, trade-driven sector separate from major events and tourism policy and for a new long-term national strategy.
The cross-party committee is also calling on the government to maintain funding for promoting business events abroad and to reconsider the decision to reduce the size of the business events team at national tourism agency VisitBritain.
To boost competitiveness the government should also review cost pressures and simplify visa processes to benefit business events and international delegates, the report adds.
Chair comment
Dame Caroline Dinenage MP, Chair of the CMS Committee, said: “The huge contribution they make to the economy demonstrates the exceptional quality of the conferences, exhibitions and trade fairs held every day across the country.
“The Government’s decision to slash support for business events is utterly irrational and entirely counterproductive, when we should be supporting the sector to boost economic growth.
“It’s time for the Government to show it understands the importance and distinctiveness of the business events sector.”