Business tourism contributes £158m to London economy – Conference News

The London Convention Bureau has reported a record year so far, with business events adding over £158m to the London economy.

Spanning from January to September 2024, this marks the highest record since post-Covid recovery. 

This is a 32% year-on-year increase, with revenue rising from £120m compared to the same period last year. This also includes a 28% increase in the number of events ranging across fintech, life sciences, and sustainability – up from 25 to 32. 

North America is still the biggest market for the UK capital, bringing in over 50% of all revenue in 2024 so far. Jumping from £51.4m to £81m, nearly a 60% year-on-year increase. 

From North America to Europe and Asia, London remains a top choice for international event organisers.

Notable events include the Salesforce World Tour at Excel London, which welcomed 13,000 delegates; the NOAH Conference at Royal Lancaster with 1,500 attendees; and the European Society of Cardiology with more than 25,000 guests alongside 2BUK. 

The London Convention Bureau estimates a further economic boost by the end of 2024, with a number of events set to return or debut in the capital, expected to generate more than £121m combined.

Josh Novick, vice president of Business Development North America at the London Convention Bureau, said: “The business events sector may seem niche to some, but our economic contributions show that it truly is a sleeping giant. London’s exceptional event infrastructure, its talent and connectivity, makes it no surprise that we remain a top destination for meetings in Europe.”