According to a 2016 report, the UK events industry sector is worth a minimum of £42.3B to the UK economy. Conferences and meetings are the most lucrative, followed by exhibitions and trade events with sporting events a close third.
With over 25,000 businesses in the sector, it is a market that is continuing to grow and for caterers, this presents an ideal opportunity.
2016 saw a notable rise in demand for conferences and meetings. This has been put down to the growing need for companies to communicate with staff and contacts face-to-face.
In addition, certain industries, such as pharmaceutical and finance, have seen changes to laws and regulations. This has led to a rise in meetings, as companies rush to update staff. Add Brexit to the mix as companies meet with clients to discuss the proposed changes and the result is clear: corporate is coming back.
The rise of the unusual venue
There are more than 7,000 major outdoor events held each year from festivals, agricultural shows, sporting and charity events through to smaller local craft events. This shows the capacity of the UK events industry to effectively host such events.
One area that has been increasing in popularity is the unique and unusual venue market. These venues range from wineries, sporting stadia, guildhalls, zoos, ships, theatres, castles, racecourses, visitor attractions, museums and distilleries. In fact anywhere that can accommodate people.
Unusual venues have always been very popular for corporate events. The government and public sector are particularly fond of unusual venues, which are used for 30% of their business.
However, choosing an unusual venue is not a random act. Corporate organisers choose a venue that has to motivate, inspire and encourage their clients. Although the classic purpose-built conference centre or hotel group still take most market share, unusual and unique venues are rapidly catching up.
How unique are you?
Unique is described as “something arresting, with individualism and personality, something outside of convention, defined by its difference”. Unusual venues offer rarity, and are pleasantly surprising, and rewarding and often capitalise on the UK’s culture, history and heritage. Castles and museums may be tourist attractions but for the events organisers, they’re also ideal venues.
Regardless of the venue, attendees have to be fed, and for the catering industry the UK events market is massively lucrative. If you are involved in catering, keep your eyes open for venues that could be suitable for corporate meetings and suggest them to events organisers. Or maybe suggest your own venue. Meetings and conferences are making a comeback, so make sure you jump on the bandwagon!