business

Automechanika ready to service booming $61bn MEA auto aftermarket

The Middle East and Africa’s auto aftermarket has been valued at US$61bn, with projected rising car sales and more manufacturing bases. The region is on target for 6% annual growth over the next six years, according to a newly published report. The new figures bode well for the largest trade exhibition for the automotive aftermarket in the Middle East and Africa, Automechanika Dubai, with organise...

Business travel on the rise in the UK despite Brexit

Advantage Travel Partnership, the UK’s largest independent travel agent and travel management company (TMC) consortium, has revealed the findings of its 2018 Hotels Market Report. The report shows that the UK regional capitals are performing strongly, with overall room nights booked growing by 8% across the top 250 UK cities. London continues to be business travellers’ favourite capital for work t...

The Valencia Conference Centre reports business up a third in 2018

The Valencia Conference Centre’s Board of Directors has reported a rise in business of almost a third last year compared to 2017. The Board was meeting to approve the venue’s annual accounts for the 2018 financial year. According to Sandra Gómez, the Valencia City Councillor for Sustainable Economic Development and Chairwoman of this self-governing municipal body, “the figures submitted consolidat...

Centaur still ‘anticipating’ disposing of selected event brands by end of June 2019

UK-based exhibition organiser Centaur Media has reported a Group revenue increase of 9% to £70.5m (US$92.9m), although revealed an underlying revenue decline of 1.6%. The company published its latest financial results which reflect increased revenues from brands including The Lawyer and Marketing Week. The trading statement said that five years of repositioning had “continued Centaur’s transition ...

Edinburgh International Conference Centre releases annual results

The Edinburgh International Conference Centre (EICC) has reported record results for 2018, with operating profits at £1.4m (USD$1.85m) for the year to 31 December 2018. Revenue figures of £11.8m (USD$15.65m) were achieved during the financial year while economic impact reached £58.1m (USD$77.09m), with visitor numbers totalling over 300,000 to the venue over the 12-month period. Marshall Dallas (p...

Bed tax: funding stream or destination nightmare?

Phillip Cooke (pictured below left) investigates the contentious issue of bed tax, which has sprung up in many destinations around the globe. But is it a solution, or a further problem?   Many countries and cities are able to  devote large sums of money to promoting and developing their tourism industries via a system that taxes the visitor, not the host. These competing regions, most notably...

ReedPOP acquires fan convention Florida Supercon

ReedPOP, the world’s largest producer of pop culture events and part of Reed Exhibitions, has announced that Florida Supercon will be joining its collection of global fan conventions. Florida Supercon is an annual convention held in Miami, Florida celebrating comics, superheroes, science fiction, anime, cartoons, video games, wrestling and all things pop culture. The next edition of Florida Superc...

Seoul ups subvention funding and offers app/VR development help for planners

The Seoul Convention Bureau has this month officially rolled out its new 2019 PLUS SEOUL programme with increased subvention funding designed to boost business events. In addition to an expanded core benefit of up to KRW250m (US$220,360) (previously KRW150m) for qualifying international conferences and up to KRW200m for corporate/incentive groups (previously KRW100m), the Seoul Convention Bureau h...

International Convention Centre of Barcelona increases turnover by 11.5%

The International Convention Centre of Barcelona (CCIB), managed by GL Events, has broken its previous turnover record, with €37.2m in 2018. The figure represents an increase of 11.5% over 2017, and a 3.1% increase compared to the 2007 record, improving on pre-crisis levels. The CCIB claims loyalty and internationalisation are the reason for the exceptional results. More than 50% of clients return...

Meetings market shows 2018 growth, despite challenges

Meeting attendance continued to increase in 2018 as the business events industry experienced another year of consecutive growth, according to US-based Convene magazine’s 28th Meetings Market Survey. Meeting professionals responding to the survey, reported attendance at their largest meetings grew 5% in 2018. Most survey participants reported continued stability and growth for their events, accordi...

Corporate travel budgets expected to rise, says new Cvent research

Seven in ten European corporate travel decision makers (CTDMs) anticipate their travel budget will increase in 2019, with 16 percent saying they expect their budget to significantly increase, according to a recent study by Cvent entitled “The European Travel Manager in 2019.” 25 percent of CTDMs said their budget would remain unchanged, while only 6 percent foresee a year-over-year decline. German...

Ryanair blames stiff competition for 4th quarter loss

Budget airline Ryanair has posted a net loss of €19.6m for the last three months of 2018. The airline had cut fares in the face of what it called “excess winter capacity in Europe”. Ryanair carried more passengers and raked in more revenues compared to the same period in 2017 – there were 32.7m passengers compared with 30.4m for the same period a year earlier, as revenue rose 9% to €1.53bn. ...