Market intelligence company Key Note highlighted the findings in its Exhibitions & Conferences Market Report 2013, revealing the growth was partly attrinuted to a number of high-profile events during the last 12 months. This included the Queen’s Jubilee celebrations and the 2012 Olympic and Paralympic Games.
Key Note also indicated the "poorer-than-average" weather last summer also impacted on the market, with a number of regional shows cancelled, as well as a drop in visitor numbers at many popular events.
The report found that lower visitor numbers were likely to have been offset by attendance at other event venues, particularly for the Olympic Games. Excel London registered visitor numbers of more than one million during the 16-day sporting event programme, and Earls Court recorded an attendance figure of more than 500,000 during the Games.
The event also boosted revenues across London hotels and venues used for conferencing, while meeting space occupancy also rose in the capital significantly, the report added.
Despite the boost in business opportunities, the report also added: "The majority of organisations are still thought to be constrained by tight marketing budgets following the double-dip recession, which has affected business travel and event attendance figures, as well as participation and expenditure."
Key Note has predicted a year-on-year steady growth for the UK exhibitions and conferences market between 2013 and 2017, adding that growth should strengthen as the economy begins to recover from 2014 onwards.
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