**UK**: The business events sector is at a crucial point, facing challenges like increased taxes but showing potential for growth through collaboration and innovation, as noted by Louisa Watson, Chair of the beam Association, in her recent discussion on the industry’s future.
The UK business events sector is currently at a significant juncture, facing a landscape marked by both challenges and opportunities, as articulated by Louisa Watson, Chair of the beam Association. Speaking to Hospitality & Events North, she outlined how this dynamic sector is essential for economic growth and innovation, facilitating the exchange of ideas and creativity among industry professionals.
Watson highlighted the pressing hurdles the sector is encountering in 2023. Among these are increased National Insurance contributions and higher tourist taxes or Electronic Travel Authorisation (ETA) fees, which have positioned the UK as one of the most expensive destinations for those wishing to enter the country. Such financial burdens could potentially deter overseas events from choosing the UK as their location, affecting the overall market.
Despite these challenges, Watson expressed optimism regarding the sector’s potential to establish the UK as a leading destination for global events, provided that stakeholders collaborate effectively. She noted that beam is taking an active role in promoting the interests of the sector through its membership in the newly reconstituted All-Party Parliamentary Group (APPG) for Business Events, in partnership with UKEvents. This initiative marks a significant step forward in advocating for necessary reforms and ensuring that the government’s support for the sector is both recognised and understood.
The resilience of the UK business events industry has been proven over time, having adapted and thrived through various economic fluctuations, political uncertainties, and the repercussions of the pandemic. Watson emphasised that this resilience stems from beam’s collective commitment to facilitating outstanding events for its clients by leveraging shared expertise and resources.
Central to the strength of the industry, according to Watson, is its people and their capability to craft exceptional experiences. She made it clear that the collaboration between venues, agencies, and suppliers is more crucial than ever to navigate the current challenges while seizing new opportunities.
In conclusion, Watson’s insights paint an optimistic picture of the future for the UK business events market, asserting that this period is rich with promise and potential as industry players come together to bolster the UK’s standing on the global stage.
Source: Noah Wire Services
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