BUSINESS TOURISM

Business Tourism



Table of Contents

Business Tourism3

The structure of business tourism, focusing on the conference industry and its value to the economy3

An outline of the chosen conference event, providing background and discussion of unique features4

A summary of the event's critical success factors7

Discussion of best practice event management7

Pre event management8

Real-time event management9

Post event management10

Recommendations for successful conference management10

References11

Business Tourism

The structure of business tourism, focusing on the conference industry and its value to the economy

It encompasses:

conferences and meetings (estimated to be worth £7.3 billion annually by the British Conference Market Trends Survey 2008. This figure represents an increase of some 10% on the previous figure of £6.6 billion for 2007, quoted in the 'BTP Manifesto'. In part this may be due to a change in methodology, in part to the substantially greater sample size, and hence more representative findings, for the 2008 research. The estimate will be monitored on an annual basis, with updated figures included in the re-named 'British Conference Venues Survey'. (Christine 2006))

exhibitions and trade fairs (estimated to be worth £2.04 billion annually) Exhibitions are the 5th largest marketing medium attracting 11% of media expenditure in the UK. This figure does not include the value of business transacted at exhibitions (Karen 2006)

incentive travel (1996 research, the latest available, estimated the inbound incentive travel market to be worth £165 million annually)

corporate events (estimates value this segment at between £700 million and £1billion annually)

outdoor events (estimated value of at least £1billion annually)

business (or individual corporate) travel. No reliable estimates of this segment exist, although Business Tourism Leads The Way suggested that it was worth upwards of £6 billion per annum in 1998 (Jacques 2007).

Over the past ten years, there has been a 53% growth in all business trips, exceeding the overall tourism growth rate. In its totality, the sector generates 29.7% of all overseas visitors and 31.7% of inbound tourism earnings for the UK, according to the International Passenger Survey 2008, published by the Office for National Statistics. The conference and incentive travel segments are predicted to grow at a faster rate than any other tourism sector up to 2010.

Revenues from international business tourism are estimated to account for up to 45% of total international tourism income by 2010 (Steve 2009).

An outline of the chosen conference event, providing background and discussion of unique features

Principal characteristics of business tourism include the following:

it is at the high quality, high yield end of the tourism spectrum

business tourism is year-round, peaking in Spring and Autumn but still with high levels of activity in the Summer and Winter months, thus sustaining permanent, full-time employment. It is estimated that the sector nationally employs around 530,000 people both directly and indirectly

it complements the leisure tourism sector, relying on much of the same physical infrastructure, and bringing business to destinations such as seaside resorts which would otherwise be dependent upon a relatively short Summer season for their economic health and prosperity

investments in business tourism facilities lead to the regeneration of urban and inner city areas, as evidenced by cities such as ...