The UK meetings market is growing

The UK conferences and meetings sector saw a significant recovery in 2024, generating an estimated £19.3 billion in direct spend across the country. According to the latest UK Conference and Meeting Survey (UKCAMS), the volume of events reached 1.08 million, marking the highest level since 2019 and a 12% increase over the previous year. This growth highlights a shifting landscape where event sizes are increasing and corporate demand is becoming the primary driver for the industry.

The 2024 data reveals a robust expansion in both the volume and scale of UK events, with the 1.08 million recorded meetings representing a double-digit percentage increase from 2023. Notably, the market is shifting toward larger gatherings; medium and large meetings of 101 to 500 delegates now account for 22% of all activity, up from 15% just a year prior. This surge in volume and size contributed to a massive £19.3 billion in direct spending, which encompasses venue costs as well as wider destination expenditures such as accommodation, transport, and local services.

To meet this rising demand, more than three-quarters of UK venues reported significant capital investments in 2024, maintaining the record-high investment levels established in 2023. The average expenditure per venue reached £240,000, with approximately 20% of facilities investing more than £500,000 to upgrade their offerings. These investments coincide with rising costs for organizers, as the average daily delegate rate climbed by 11% year-on-year, while 24-hour residential rates saw a more modest 4% increase.

The corporate sector has solidified its position as the dominant force in the industry, now representing 52% of all meetings compared to 46% in the pre-pandemic period of 2019. Government and public sector events make up 28% of the market, while associations account for the remaining 20%. Regarding international business, venues reported that inquiries are primarily funneled through direct corporate contacts, UK-based agencies, SaaS platforms like Cvent, or local convention bureaux. Paul Black, head of business events at VisitBritain, noted that this data, compiled by Richard Smith and Tony Rogers, serves as a critical tool for demonstrating the sector's economic importance to the UK government.