Industry Analysis
In total, the UK’s events industry is estimated to be worth £70 billion in direct spending, accounting for over 50% of the UK visitor economy.
Over £31 billion of this total is comprised of business events, principally conferences, meetings, and exhibitions, while almost £39 billion is contributed by leisure events, including arts and cultural events, music events and festivals, and sporting and recreational events, as detailed below:
Business Events
Leisure Events
The UK wedding industry is worth £14.7 billion. This figure is projected to grow to £28 billion within the next two years.
According to a recent study, nearly 280,000 weddings take place every year, with 265,000 weddings cancelled over the past two years due to the pandemic. In addition to the backlog, around 280,000 newly engaged couples hope to get married from 2021 onwards.
The average cost of a UK wedding is £31,000. Weddings are set to bring in around 50 billion guests to support the UK wedding industry and participating businesses.
If you are organised and have a good eye for detail, a career in the wedding and event planning industry might be right for you. According to Entrepreneur, an online source for business information, the start-up cost for becoming an event planner is less than £2,000, and it is a business that can be operated from your own home.
Starting an event planning business will be challenging. There are various types of events you can specialise in, and they appear to be interesting. Meanwhile, you cannot simply handle every type of event.
With B&F Services, we specialise in helping you structure a better business plan and strategy and give you a detailed analysis. We can help gather all your ideas for a business. If you would like to consult our experts, please contact us at +44(0) 203 637 6137.
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Consultants with over 17 years of experience and market know-how across a wide range of industries.
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