|
RELEASED: JUNE 2007
After researching the UK corporate hospitality market development and taking into account various other factors the following conclusions can be drawn from MBD's report:
MARKET REVIEW 2003-2007:
Annual growth in the UK corporate hospitality market oscillated between 5% and 7% in each of the five years under review. In 2007 demand for corporate hospitality is estimated to increase by 6% to a review period peak of £1.1 billion, representing total growth of 25% since 2003. The market has been buoyed in recent years by events such as the 2006 World Cup and also the recovery of the UK tourism industry to pre-2001 levels. Furthermore, the opening of the new Wembley stadium in 2007, with a capacity of over 18 000 corporate seats, is expected to boost demand for corporate hospitality during the year.
MARKET FORECAST 2008-2012:
Demand for corporate hospitality is projected to increase throughout the forecast period, with growth levels expected to oscillate between 3% and 5% in each year. MBD expect demand for corporate hospitality will be buoyed by the Euro 2008 Football Championship and even more so by the London 2012 Olympic Games. In 2012 the UK market for corporate hospitality is anticipated to increase by 5% to a forecast peak of £1309 billion (at 2007 prices).
NOTE TO EDITORS:
MBD specialises in business to business market research. The range of reports and industries in which we operate in constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.
Click here for full details of the UK Corporate Hospitality Market Research Report
MBD WELCOMES PRESS ENQUIRIES:
Press releases on the latest MBD market research reports can be sent to editors and journalists involved in trade magazines.
Full press releases are available, please email your request, along with the magazine title you are writing for, to pressoffice@mbdltd.co.uk.
|
