Danielle Bounds, sales director at ICC Wales shares the state of the events economy and plans for 2025.
As we approach 2025, the UK’s Events Economy is flourishing, with trends indicating sustained growth across key metrics. Business events continue to drive economic value, knowledge exchange, and create unparalleled opportunities for collaboration. Recent data from the Events Economy Tracker by The Business of Events (TBOE) highlights strong growth patterns in the UK, pointing to an industry that is thriving and evolving to meet new demands.
Positive growth across key metrics
The latest Events Economy Tracker data for Q3 2024 paints a promising picture. Revenue per delegate reached £150.01, an increase from £112.95 in Q1 2023 and the highest figure recorded to date. Some of this gain is of course mitigated by ever-growing costs, such as energy, but we are definitely seeing increased returns at ICC Wales that we expect to continue into 2025.
This surge reflects a heightened perception of value within the sector, driven by a demand for high-quality experiences and innovative event solutions. Clients and organisers are more and more looking to venues to create special experiences to encourage attendance at their events. Whether that be requests around menu creativity or devising unique experiential activities, we are blessed with both our team and our location at ICC Wales to accommodate these special touches and enhancements.
While lead times have shown some improvement across the sector, rising to 87.26 days in Q3 2024 against 72 days in Q3 2023, our experience is that short lead times are still a significant challenge. Economic pressures mean businesses are reluctant to commit to spending on conferences and events too far in advance, with bookings requiring longer negotiation and flexibility in terms of confirming numbers and details.
Delegate group sizes averaged 57.59 in Q3 2024, down from Q2’s 62.83 but a considerable improvement on Q3 2023’s average of 36. This growth in group attendance reflects the increasing appeal of in-person meetings, with organisations recognising the importance of face-to-face interactions in achieving their business objectives.
But again we find that delegate numbers may not be confirmed until very close to the event – we had one event request to add another 100 people just a week out. Fortunately, one of our key strengths is our adaptability and the team is very experienced in adjusting to last-minute requests and going the extra mile to deliver the best experience for delegates. We received a 96% score on feedback from event organisers in 2024 and we will be looking to maintain and even improve on those levels of satisfaction in 2025.
ICC Wales: leading innovation in business events
At ICC Wales, we are proud to contribute to this momentum with a packed calendar of high-profile events and a focus on delivering best-in-class experiences. As one of the UK’s premier conference centres, we continue to attract global organisations seeking venues that combine state-of-the-art facilities with a commitment to sustainability and innovation.
Our 2025 programme includes events spanning key sectors such as healthcare, education, and technology. Repeat business for next year incudes events for the Association of Corporate Treasurers, Howdens, Railway Industry Association, University of South Wales, UCAS, NASUWT, ASCN, and Technology Connected. New business for 2025 includes VisitBritain, Royal College of Psychiatrists, British Pain Society, and Royal College of GPs. These events not only drive revenue but also create a platform for knowledge sharing and professional development.
Sustainability has become a cornerstone of our operations. From partnerships with local suppliers to energy-efficient infrastructure, ICC Wales is setting benchmarks in environmentally responsible event delivery. As part of our ongoing efforts, we are collaborating with industry leaders to develop new sustainability standards that can inspire other venues to follow suit.
We are proactive members of isla, the non-profit organisation founded by event professionals and industry leaders focusing on a sustainable future for events. ICC Wales also partners with Event Cycle, a charity which turns unwanted items left by delegates or event organisers into donations to benefit community projects, and with FareShare Cymru to donate surplus food to homeless hostels, community groups and refugee centres.
The road ahead
Looking forward to 2025, the events economy is on an upward trajectory, driven by creativity, adaptability, and a focus on delivering meaningful experiences. At ICC Wales, we are already going into 2025 in our strongest position ever in terms of business on the books with future bookings running as far ahead as 2033.
We are dedicated to not just meeting but exceeding the expectations of event organisers and delegates alike. By embracing innovation, championing sustainability, and fostering connections that inspire growth and knowledge-sharing, we aim to set new standards for excellence in the industry. Together, we can create events that leave a lasting impact—economically, socially, and environmentally.
