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7 Surprising Event Industry Stats You NEED to Know

Posted by Shopify API on

 

We all know the events industry in the UK is buzzing with success, but do you know the facts and figures driving it? If not, don't worry: we've done the work for you, and compiled 7 most surprising (in a good way!) stats about the event industry (that you can name drop at your next event).

1. Over 1.3 million events are organized in the UK every year

This figure puts the UK second only to the US in terms of being the busiest (and best) country for Meetings and Events. According to Eventex, 'the results are based on a weighted score that takes into account the number of wins from each destination in the Global Event Industry Awards over the past two years. Others high placers were Austria, Italy, Poland and Belgium.'

The UK is known for being a hub for events, more so than almost any other country in the world. In fact, around 35% of all event attendees in 2017 had traveled from further afield to be a part of a wide range of events in the UK.

2. Conferences and meetings are worth £19.9 billion in direct spend

Yep, you read that right. Corporate events account for the largest proportion of revenue in the events industry.

3. The UK's events industry is valued at £42 billion

From festivals and live music performances to conferences, the events industry in the UK was estimated to be worth around £42 billion, and this figure is only expected to further grow over the next few years. It is also estimated that the industry creates around 600,000 full-time jobs, from the event crew members that set up the stage and the lighting (as we do here at Gallowglass) to those in control of security, marketing and every other vital component that goes into organizing a successful event.

4. Costs of an average wedding have reached an all-time high of £27,161

According to a new survey, the average cost of a UK wedding is now a whopping £27, 161 the highest it’s ever been and up 9.6 percent from last year. The priciest elements on average are venue hire (£4,354) and the food (£3,353).

5. 84% of organisations have seen income from events rising or staying the same

Statistics show that over the next year the industry is only expected to continue its growth. Plus, plans for new events continue to grow, meaning that the variety of events will increase even further. 

6. 39% of corporate event planners expect their budgets to increase next year

With increased growth comes increased spending. Event planners are also predicted to spend more on new tech like AR/VR for increased event engagement.

7. 7,000 major events take place outside every year

This covers everything from major sporting events, music festivals, agricultural shows to exhibitions to weddings and local community food festivals. And with Summers predicted to get increasingly drier and hotter, we're certain that the number of outdoor events is only set to grow. 


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