The Importance of Conferences

Conferences are a fundamental part of the events industry, acting as key drivers of professional development, networking, and economic activity. In the UK, the sector has historically been a powerhouse, with the broader events industry valued at over £70 billion annually before the Covid-19 pandemic, according to The UK Events Report by the Business Visits & Events Partnership (BVEP). This included £31 billion from business events like conferences, supporting around 700,000 jobs across hospitality, production, and related fields. These gatherings facilitate collaboration, innovation, and knowledge sharing, making them essential for industries ranging from technology to healthcare, while sustaining a vast supply chain.

Guest Author

March 20, 2025

The UK is home to several notable conferences that underscore this significance. With a particular focus on the events industry (for obvious reasons!), The Meetings Show, hosted at London’s ExCeL Centre, brings together over 700 suppliers annually, with Northstar Meetings Group describing it as “the UK’s leading exhibition for the events, meetings, and incentives community.” International Confex, also at ExCeL, celebrated its 40th year in 2024 with over 180 exhibitors and 100+ sessions, billed on its website as “where the events industry comes together to learn, network and gather event inspiration.” The Event Production Show, co-located with Confex, caters to the operational side of events. Mash Media, its organiser, calls it “the longest-running event designed for all event professionals involved in running outdoor and live events,” focusing on practical challenges like staging and sustainability. These examples highlight the UK’s capacity to host impactful, world-class conferences.

However it’s not a straightforward journey of upward progress in terms of the popularity of conferences. There are signs of a decline in in-person attendance. The UK Conferencing and Events Market Report 2024 by Mintel notes a “mixed performance in 2023” after a strong post-Covid recovery in 2022, citing economic uncertainty and rail strikes that “impacted more than half of organisations within the business meetings and events sector.” It adds, “Rising costs present a key challenge,” with the market reaching £34.3 billion in 2023—below the pre-pandemic £38.9 billion of 2019. Meanwhile, Conference News reported in December 2024 that delegate group sizes rose to 57.59 in Q3 2024 from 36 in Q3 2023, per the Events Economy Tracker, but lead times remain short at 87.26 days, suggesting caution in committing to physical events. We at Vento have thought that the conferences we have attended have felt less busy than usual, with fewer people milling about compared to previous years.

The growth of hybrid and virtual formats is a major influence. Eventcube.io projects the global event industry to surpass $1.5 trillion by 2028, with an 11.2% CAGR, noting that hybrid events grew 20% in popularity in 2024. However, virtual events lack the depth of in-person engagement. Bizzabo’s 2025 statistics reveal that “82.8% of organizers and 77.7% of attendees agree that [in-person] conferences offer an ideal networking environment,” highlighting a value digital formats struggle to match. It’s likely that instead of increasing virtual events, technology can instead make in person events more worthwhile and engaging. Mintel supports this, stating, “The adoption of cutting-edge technology will… increase accessibility as well as enhance and personalise attendee experiences.”

This shift affects the industry’s ecosystem. Venues see fewer bookings, and suppliers tied to large-scale events face uncertainty. The Event Production Show, with its emphasis on hands-on expertise, illustrates what’s at stake. Conference News noted in 2023, “The pandemic has proven the value of in-person events and appetite remains strong,” yet our experience this year suggests that appetite might be softening. To stay relevant, IRL conferences may need to adapt. Adverset reports, “64% of attendees at events valued immersive experiences,” pointing to a demand for interactive, high-value formats that justify the effort of attending.

Conferences remain vital—economically, with their £31 billion contribution, and professionally, as platforms for connection. The UK’s track record, exemplified by ExCeL events, provides a solid base. At Vento, we wholeheartedly believe that the worth of conferences persists, but it’s true that attendees have higher expectations for in person events and conference organisers must work hard to provide experiences that are new and exciting for attendees, that still foster the same sense of connection. Mintel forecasts that “the future of the UK events market is being shaped by a blend of technological innovation, sustainability initiatives, and evolving client expectations.” For IRL events to thrive, they must meet these expectations, offering experiences that virtual alternatives can’t replicate.