NEWS

Austerity or Opportunity
Michael Hirst, OBE, Chairman of the Business Visits & Events Partnership

This week Chancellor George Osborne gave his Autumn statement.

From the perspective of the UK events industry it’s a mixed bag, with public sector spending continuing to be squeezed, this sector previously a major user of conference and meeting facilities will continue to have reduced budgets for events.

However there was some support for emerging sectors of the economy and extra money for the knowledge economy, scientific research and infrastructure. These sectors are substantial users of events and exhibitions and there could be added business from them.

In terms of public events, there will be a trade-off as consumer spending once again is hit, however, the prospect of more domestic holiday taking and daytrips could see an upturn in attendances at cultural, music and festival events.

The Autumn Statement pointed the way to more support for small and medium size enterprises, many of which make up the service providers to the events industry and also many of whom showcase their products and services at live events.

With added emphasis on exports and inward investment this could all be beneficial to the events sector.

The measures to improve investment in transport infrastructure and regional growth has the potential to make business event destinations more accessible by road, rail and air transport.

There were also announcements regarding the outcomes of government consultations on Health & safety regulations and improved planning process. All of these should help event business become more productive.

This industry continues to look to new markets and industry sectors to find its growth. The Chancellor highlighted where government investment is being made. The Events industry's job is to continue to show that live events provide the best and most effective platform to market products and brand messages.

For further information please contact:
Alistair Turner at Davies Tanner
Telephone: + 44 (0)1892 617 9o4 / Email: alistair.turner@daviestanner.co.uk