MAKING A SONG AND DANCE ABOUT THE UK: HOW CHARLES’ CORONATION AND EUROVISION OVER EIGHT DAYS IN MAY 2023 WILL DRAMATICALLY BOOST BRITAIN AS GLOBAL CORPORATE EVENT DESTINATION
01 JAN 2023/
- - Events industry annually contributes £70 billion to UK economy, around half the total UK visitor economy
- - Next year’s globally high-profile events in London and Liverpool will ‘dramatically boost’ that figure
- - Habib Amir of global event booking company Prestigious Venues: ‘These eight days in May will be the greatest ever TV ad for Britain - worth tens of billions of pounds to the events industry and UK plc’
Amidst the economic gloom, there’s one area where Britain is tipped to be a world beater next year - as a global destination for corporate events.
King Charles’ coronation in London and the Eurovision Song Contest in Liverpool will take place over eight days in May - putting the UK on a truly worldwide stage in the digital era like never before, with more than one hundred million viewers on TV and other digital platforms expected to watch.
And according to Habib Amir, Global Managing Director of event booking company Prestigious Venues, it will be the greatest ever TV ad for the UK - worth tens of billions of pounds to the flailing British economy.
Industry body UK Events estimates the UK’s events sector is worth £70 billion in direct spend, accounting for over 50% of the UK visitor economy. Over £31 billion of this total is comprised of business events, principally meetings, conferences and exhibitions - while almost £39 billion comes from leisure events, including arts and cultural events, music festivals, and sporting and recreational events.
And Habib predicts this figure will be ‘dramatically boosted’ next year – thanks to the two huge events taking place in Britain in May with many additional global events to follow.
He said: ‘Despite all the political turbulence in 2022, the UK is Europe’s second largest economy and the sixth largest in the world. While our GDP is £2.7 trillion, the events industry contributes a healthy £70 billion - almost 50% of the total UK visitor economy.
‘And it’s not just events at home that the UK events businesses do well. According to the Netherlands government’s CBI, the UK is at the top of the list of countries delivering the most amount of revenue to outbound events in Europe.
‘The recipe for Britain’s success in events, whether at home or abroad, seems to be the meticulous planning, precision of execution and dreaming up great spectacles. I think vision is extremely important for every great spectacle, but it’s the planning and execution that British events businesses have a healthy obsession with. That’s what we do well, whether here in the UK or away in Portugal, Spain or Italy.
‘The UK has a history in events like no other, and it has always been a hugely popular event destination – but the two massive events taking place over eight days in May next year will be the greatest TV ad for the country, particularly in the digital era which drives business.
‘The Eurovision Song Contest is one of the world’s most-watched TV franchises, and British royalty continues to evoke great interest in all corners of the world. The combined publicity and viewing figures will boost confidence, attract more global events to the UK and encourage economic growth.’
The past 12 months have been a record year for the events industry, and Habib added: ‘Most of the high-end corporate events seem to be immune to the ups and downs of the global economy and political crisis. Prestigious Venues has had a record year with 1,080 corporate events booked, totalling a spend of £21.6 million in comparison to 902 events in 2019. That’s roughly a 20% increase which is partly due to pent-up demand following the pandemic.
‘The enquiries we’re receiving for events in 2023 show that demand for corporate events is stronger than ever. Perhaps we can look at 2023 not with doom and gloom but for opportunities to innovate and grow.’
Prestigious Venues is a UK business that finds event venues for national and global clients – from conferences and gala dinners to incentives and product launch venues around the world. And this free venue consultancy service is trusted by national and international brands alike.
Habib added: ‘Prestigious Venues seeks out the world’s most spectacular settings for nurturing significant human connection. A connection that most often drives real-world growth. Whether it is world leaders coming together to shape the future or corporate management coming together to generate global change.
‘Whether it’s an occasion to recognise the efforts of the top-performing staff or to mark a significant milestone. Prestigious Venues enables those occasions by providing just the right settings that spark meaningful future connections.
‘One great advantage we have in the UK is that the venues here have extraordinary history, heritage, character and interior detail. There is meaning in every corner - improved and revived over centuries. Their resilience and dedication have been tested beyond this recent pandemic throughout their long and fascinating history.
‘Venues hand-picked by Prestigious Venues are unparalleled and not to be benchmarked against blank-canvas spaces. Our niche is premium corporate events with meaning and impact. We have great settings, suppliers and venues here in the UK for creating that impact - and following a record 12-months with more demand building for next year, the UK is set for a promising 2023 as a global corporate event destination.’
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Prestigious Venues is a global consortium of venues, helping event bookers find and book the very best locations for their events. The platform makes the venue booking process fast and simple. Its free service is trusted by national and international brands, as well as private event bookers. As dedicated venue experts, Prestigious Venues ensures clients get the best value for their budget while hosting distinguished events.