PRESS RELEASE BY MBD...

UK CORPORATE HOSPITALITY MARKET RESEARCH REPORT

RELEASED: APRIL 2008

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:

In 2007 the UK corporate hospitality market is believed to have increased by 5% to reach a peak of £1046 million. Annual growth of between 5% and 7% is believed to have been demonstrated throughout the five year review period, culminating in overall growth of 24% between 2003 and 2007. The market is believed to have 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 believed to have helped boost demand for corporate hospitality during the year.

MARKET FORECAST 2008-2012:

Demand for corporate hospitality is projected to increase throughout the five year forecast period, reaching a peak of £1238 million (at 2007 prices) in 2012. MBD expect subdued growth of between 2% and 3% during the first three years of the forecast period, reflecting the effects of the economic slowdown on corporate hospitality budgets. In 2011 and 2012 spending is anticipated to pick up, buoyed by the 2012 Olympic Games. Overall the UK market for corporate hospitality is anticipated to increase by 18% between 2007 and 2012, reflecting the growing importance placed on corporate hospitality as an effective communications strategy.

NOTE TO EDITORS:

Market & Business Development Ltd 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.