The Business of Events publishes Policy Agenda – a series of recommendations to boost the UK economy through events

01 July 2024

1^st July 2024 – London: As the UK General Election approaches its final stages, The Business of Events (TBOE) has published its Policy Agenda, featuring seven critical recommendations aimed at enhancing the UK's economy and promoting advancements in knowledge exchange through events. This comprehensive agenda is designed to inform and influence the incoming administration and policymakers about the vast opportunities within the UK’s event ecosystem.

Following an extensive UK-wide policy consultation conducted in 2023, TBOE have highlighted eight specific policy initiatives that hold the potential to unlock significant growth within the UK events economy, paving the way for a more robust and prosperous sector.

The events industry is a crucial driver of economic growth, innovation, and international collaboration. To harness its full potential, TBOE advocate for targeted government policies that bolster and advance the sector.

Key Policy Initiatives:

1. Updating SIC Codes: Ensuring accurate representation and targeted support for the events industry.
2. Easier Visa Schemes: Facilitating international collaboration post-Brexit for both inbound and outbound events.
3. Event Tax Credit Scheme: Attracting new events and supporting existing ones through financial incentives.
4. Attracting International Events: Providing more support to position the UK as a top destination for global events.
5. Practical Support for Competitiveness: Using events as a catalyst for growth across various sectors.
6. Investment in Convention Bureaux: Empowering national and regional bureaus to drive economic development.
7. Leveraging Events for Policy Objectives: Using business events as platforms to deliver and promote government policies.

Martin Fullard, Director, The Business of Events, emphasised the collaborative effort behind the agenda: "Before Parliament was dissolved, we were working with the All-Party Parliamentary Group for Events on stress testing policy concepts. We hosted several events, including our flagship policy forum, where these subjects were explored and discussed. Everything here is broadly agreed upon as being essential for unlocking the industry's potential.

“This agenda will be presented to the All-Party Parliamentary Group for Events when it is reformed after the election and shared with Ministers and officials in various Departments and will form the basis of the scope of work for the next Parliament. These are recommendations we strongly believe the new government should explore and implement."

Though the All-Party Parliamentary Group for Events, TBOE will be urging the new UK Government to adopt these policy initiatives to ensure the continued growth and success of the business events industry.

For a detailed overview of our policy agenda, download our comprehensive PDF on The Business of Events website.

Download the policy agenda here.

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