Business travel is worth over £22 billion in terms of its wider economic impact through associated visitor expenditure on travel, entertainment, shopping, pre and post conference tours etc. In addition, the value of business transacted at business events is estimated to generate in excess of £100 billion a year.

The 2008 IPS figures for inbound business visits and events indicate over 8.1 million visits spending £4.6 billion.

Business visits in 2008 generated 109% more spending in real terms than in 1979 (leisure increase was 18%).

The sector generates 25% of all overseas visits and 28% of all inbound tourism earnings.

Business visits and events create high quality, year round employment opportunities accounting for some 5,390,000 jobs indirectly and directly.

Around 80 million people attend 1.5 million conferences and meetings annually in the UK.

Business visitors spend on average £131 per day – 72% more than the daily rate spent by a leisure visitor, with attendees at exhibitions spending 193% more than the leisure visitor.

450 major events take place annually in the UK contributing more than £1 billion.