The role of the Olympics in UK economic growth has spurred a call from the meetings industry for government to increase its support for organisations looking to bring new sporting, cultural and business events to the UK.
The call from the Britain for Events campaign follows figures released 25 October that demonstrate the positive contribution of the Olympic and Paralympic Games in bringing the UK economy back to growth.
“The Olympic Games, the Queens Diamond Jubilee, and other related cultural activities, around Britain underline the awesome power of events in delivering both economic growth and social pride to communities; locally and nationally,” said Michael Hirst, OBE, from the Britain for Events campaign and Chair of the Business Visits & Events Partnership, the umbrella body for the UK events industry.
“Everyday the UK bids to bring major events to the UK, be they sporting competitions, cultural and live events, or business exhibitions or conferences. Each one of these brings in tourists, businesses, and spend to the economy; but we need help to win them,” Hirst added.
The UK events industry is already predicted to grow by £500m as a direct result of the Games, and will pick up the task of filling the £11bn extended infrastructure built as a result of the event.
However, the Britain for Events campaign is keen to extend the impact of the Olympic legacy.
“The summer saw the benefit of the Games in bringing people into the UK who invested in our hotels, restaurants, and transport. However, the added benefits of increased commercial spend and activity underline the power of events in stimulating business,’ said Hirst. “We also demonstrated that the UK is creative, innovative and drives business; both locally and nationally.”
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