Corporate hospitality, for example, is worth £1bn, exhibitions and trade shows are worth £9.3bn and sporting events contribute £2.3bn to the British economy.
Separately, the conferences and meeting sector is worth £18.8bn.
"Servicing business visitors and delivering world-class events also means providing stimulating careers and employment opportunities," said Business Vists and Events Partnership chairman Michael Hirst. "Some 530,000 people are estimated to be working in the sector."
According to the report music events are worth £1.4bn and festivals and cultural events are worth £1.1bn.
Britain for Events Week is intended to pressure on the government to increase recognition of the impact of events on the British economy, coincentally it takes place in the week public sector spending cuts are set to be revealed.
Amongst other things, BVEP is to ask for VisitBritain to have a subvention fund to provide support for international event bids to allow it to compete with other countries with state financial backing.
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