UK Event Management Industry Analysis

This assignment analyzes the UK event management industry. It discusses its economic contribution, operational aspects, size, and scope. A PESTLE analysis is conducted to examine the influence of external factors on organizations within the industry. The report highlights a positive future outlook for this sector in the UK.

Conferencing and
Banqueting Management

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK A...........................................................................................................................................1
1.1) Size and scope in UK......................................................................................................1
1.2 Factors influencing its development.................................................................................3
CONCLUSION................................................................................................................................5
ILLUSTRATION INDEX
Illustration 1: Majestic Banqueting Hall Birmingham...................................................................2

INTRODUCTION
Entrepreneurs are getting many opportunities in UK as it has become hub for many
corporate companies. In this, hospitality-industry is among the highest contributing industry in
terms of economy. In the industry there is increase in demand of conference and banqueting
which considered as crucial. Banquet is a benevolent-gathering or celebration where large mass
of individual interact in function and or celebrate occasions (Bouchon, Hussain and Konar,
2017). On the other hand, conference is formal and official events or activities like academic,
business and professional meeting conducted among various parties. The present report is based
on, scope and size of conference and banqueting sector where its influential strategic operational
activities and issues affecting it are identified. The industry takes responsibility for carry off and
managing all the activities by using strategic tools and techniques.
TASK A
1.1) Size and scope in UK.
Banqueting and conferencing are major groups of Hospitality industry. In UK, it is
highest growing sector having greater scope in arrangement, management and operational
activities of events. The country is economically developed one and has efficient power to
organize larger conferences. The industry has highly contributed in enhancing the level of
economy and development of UK.
Size
In 2016, there are around 25000 firms involved in the banqueting and conference
industry. Hilton, Marriott and various other organisations, organises more than 6650 venues
every year in conference and banqueting sector (Simmonds, 2017). For conference only there
are over 85-m event attendees, 9 bn meeting rooms conducting over 1.5-m business
meeting/year (Park and et. al., 2016). In 2017, industry's the top 10-organizations were having
average-budget over £85000 and turnover around £3.5 b. There are more than 570,000 people
involved in it. As per the report of QEII Centre, the industry has contributed £100m gross value
added (GVA), in 2015/16 in UK and gross expenditure generated was £218 million (UK Event
Industry Facts & Stats, 2017). For the same year they have recorded 231,900 visitors for
attending the banqueting events. Moreover, there has been advanced booking of 39% for
2018/19. UK holds 2ndposition in global meetings internationally. Moreover, 3rd largest in

providing employment and income growth. It generates £39.1bn as GDP and revenue of more
than £80 bn/annum.
Illustration 1: Majestic Banqueting Hall Birmingham
(Sources: Majestic Conference & Banqueting, 2017)

Scope
Various types of events and venues involved in it are shown below:
Type Description
Congress Large assemblies for discussion conveying particular message.
Trade fair Place to promote products of large industries having specific customer's.
Interview Recruitment purpose meeting held by organizations (Rahimi, 2017).
Forum Made for special decision among committee and audience for which auditorium
are used.
Meeting Official and non-official business interaction. These are majorly conducted in
UK.
Retreat Special purpose meeting conducting development, training and other related
activities.
Seminar Small lecture held for limited and interested people having various venues.
Lecture Same as seminar but for larger areas.
Off-premises
events
Combination of large events conducted by commercial enterprises where
activities such as back-up plan, design-of-site, equipment and operational-
activities are done (Conference and banqueting, 2015).
1.2 Factors influencing its development
There are various factors that are assessed making contribution and shaping the
respective industry in UK. PESTLE analysis is conducted to overview the effectiveness of the
mentioned sector.
a) Political- The industry is significantly supporting economics, GDP of UK, therefore
various efforts are made by the government to support their development. Earlier tourist or non-
residents that were visiting UK for this purpose have to comply with different legal formalities
via VISA procedures which has been now simplified ( Seal and Mattimoe, 2017). However,
policy regarding environmental laws, policy and unstable prices are affecting their industrialist
activities. The legal factors may effect sector as it has to comply with various formalities.

b) Economical- Success and achievements can be easily seen through economic
contribution provided by the sector. Organization associated with this industries are contributing
towards international trade. Whereas, in UK which comes under EU has free trade policy
providing more benefits to sector. Attendees, event delegates and organisers have contributed
around £42.3 billion in year 2016. However, inflation and exchange rates or fluctuations in
economic prices can affect the business. Revenue is earned by UK at large basis but if inflation
arises then banqueting sector will be impacted.
c) Social-Cultural- Changes in these factors completely relies on attitude, belief, custom
and values. The country has rich historical events that lies in their culture. There are more than
25000 organizations that are providing excellent facilities in conference and banqueting. This
can be easily seen through the attitude of people and their cultural dimensions (Bowie and et. al.,
2016). Around 21% of population are involved in this service industry. Though social factor are
also based on taste of tourist which keeps on changing so they need to make changes and
modification accordingly. Cultural factors prevailing in society may affect banqueting sector.
d) Technological- High-tech technology is continuously contributing and shaping their
sector to improve their performance and events. It has provided them more simplified solution
and has increased their revenue collection and productivity to great extent. Faster
communication technologies such as video-conferencing, live-seminars, and online-discussion
have hiked hospitality industry reliability. It is provided more convenience, reduces cost and
increased profit level to the companies. However, technology has also increased the competition
among the industries in UK. Technological advances should be made otherwise, it will lack
behind.
e) Environmental- This ventures have to abide all the environmental laws to conduct
their performance. In order to preserve the environment many banqueting and conferencing
organisations have come with eco-friendly techniques. Through this way they can reduce the
pollution, wastage and can enhance more in contribution to growth and development of the
country. Using technology and recycling they are able to provide more attracting things for
various events. Such contribution has reduced the negative burden on the environment. Eco
friendly parctices may be made by it otherwise laws will get violated.

f) Legal- This factor comprise of policies, laws, rules and regulation that must be
followed and practised by the banqueting and conferencing industries in UK (McGuire and
Polla, 2017). Under this health and safety of people is mostly considered and strict action can be
taken if industry has not followed them. Moreover, company must ensure that they have license
to provide services, for example to serve different types of drinks and liquors. If they are not
having any license then legal action may be taken by the UK government.
CONCLUSION
From above report it can be conclude that conference and banqueting sector is largely
expanded and is major contributing to UK economy. Moreover, it is among well-established
business. This report shadows that people of UK have effective bond with the event-
management firms. In the entire report discussion regarding the economic contribution,
operational activities, scope and size of cited industry is mentioned. Further, PESTLE analysis is
elaborated to identify influence of various factors on the organisations. There is great future
scope of this industry in UK.

REFERENCES
Books and Journals
Bouchon, F., Hussain, K. and Konar, R., 2017. EVENT MANAGEMENT EDUCATION AND
EVENT INDUSTRY: A CASE OF MALAYSIA. MOJEM: Malaysian Online Journal of
Educational Management. 3(1). pp.1-17.
Bowie, D. and et. al., 2016. Hospitality marketing. Taylor & Francis.
McGuire, D. and Polla, G., 2017. Unlocking Hospitality Managers Career Transitions Through
Applying Schein’s Career Anchors Theory. European Journal of Training and
Development. pp.00-00.
Park, S. and et. al., 2016. Demand fluctuations, labour flexibility and productivity. Annals of
Tourism Research. 59. pp.93-112.
Rahimi, R., 2017. Organizational culture and customer relationship management: A simple
linear regression analysis. Journal of Hospitality Marketing & Management. 26(4).
pp.443-449.
Seal, W. and Mattimoe, R., 2017. 13 A Pragmatic Constructivist Perspective on Sensemaking in
Management Control. A Philosophy of Management Accounting: A Pragmatic
Constructivist Approach. p.260.
Online
Simmonds, K., 2017. Planning an off-site small to medium size meeting or conference. [Online].
Available through: <http://pyramid.delislewalwyn.com/index.php?
option=com_content&view=article&id=91:planning-an-off-site-small-to-medium-size-
meeting&catid=52:edition-3>. [Accessed on 30th October 2017].
UK Event Industry Facts & Stats, 2017. [Online]. Available through:
<https://www.eventbrite.co.uk/blog/uk-event-industry-in-numbers-ds00/>. [Accessed on
30th October 2017].
Majestic Conference & Banqueting, 2017. Majestic Banqueting Hall Birmingham. [Online].
Available through: <http://majesticbanqueting.com/>. [Accessed on 30th October 2017].
Conference and banqueting, 2015 [Online] Avialable Through:
<http://www.researchomatic.com/conference-banqueting-181354.html>