To inspire ideas that change the world, first we have to connect great minds – and business events are a vital piece of the puzzle.
SCOTLAND HAS a long, rich history of innovation. A country full of bright sparks, great ideas and research excellence, it’s an ideal destination for global business events. While collaboration is key to inspiring innovation, business events also have a positive impact on the economy and wider society.
The economic impact of business events
International delegates spend significantly more per day, per head than any other visitor to Scotland - making business events delegates Scotland’s highest value visitor.
A 2023 Report found that business events generated more than $1.15 trillion of direct spending
In fact, the Scottish Association Survey for 2021/22 and 2022/23 found that an international association delegate spends £447 per day, which includes spend on the delegate and spend by the delegate. This is more than double what a leisure visitor from the USA - Scotland’s highest value international market - would spend, at £182 per day.
In the same vein, the 2023 Global Economic Significance of Business Events, Events Industry Council May 2023 Report found that business events generated more than $1.15 trillion of direct spending. This represents spending to plan and produce business events, business events-related travel and other direct spending, such as spending by exhibitors.
Business events also supported 10.9 million direct jobs globally, and generated $662.6 billion of direct GDP.
How business events can benefit wider society
When key figures come together in conference rooms, the impact can extend far beyond the venue walls. In addition to sparking innovation, business events have the power to drive social change.
By facilitating international collaborations among delegates and the local community, business events provide a golden opportunity to improve the local standards in a destination; whether that’s better infrastructure, increased facilities, tackling inequalities or driving awareness.
When the Association of Cardiovascular Nursing & Allied Professions (ACNAP) hosted its annual conference at the EICC in June 2023, the primary objective was to foster collaboration and learning amongst the global community of cardiovascular professionals. However, the conference also aimed to create a lasting impact on the wider community by facilitating education and raising awareness of heart health within Edinburgh.
The EICC worked with ACNAP to incorporate public engagement opportunities, including heart disease screenings for the public, a public talk highlighting how public health policy influences heart health, a walking history tour and fun run in aid of the British Heart Foundation.
Perhaps the most impactful result to come out of the conference was the piloting of the Spontaneous Coronary Artery Dissection (SCAD) clinic. The new specialist heart clinic at Forth Valley Royal Hospital aims to improve treatment of a cardiac condition which mainly affects women.
The BHS worked with EICC to invite pupils from four state high schools in Edinburgh … to talk with medical students and senior surgeons, as well as offering fun, hands-on workshops.
Professor Lis Neubeck, from Edinburgh Napier University’s Centre for Cardiovascular Health, worked with EICC to organise the ACNAP event – and it is her research with SCAD survivors that helped illustrate the need for a new SCAD clinic in Scotland.
Conferences can also highlight and address social inequalities - as was the case at the British Hip Society’s (BHS) Annual Scientific Meeting at EICC in March 2023. Not only did the BHS wish to engage as many delegates from as many different backgrounds as possible, they also wanted to reach out to local schools to engage the younger generation.
In a drive to reach out to young people who may hope to become surgeons, the BHS worked with EICC to invite pupils from four state high schools in Edinburgh to attend a specially-organised session. This gave them the opportunity to talk with medical students and senior surgeons, as well as offering fun, hands-on workshops.
These examples all highlight the way in which business events can spread advocacy and awareness, serving as a powerful catalyst in social development.
Accelerating academia and industry through events
Gary Hutchison, Dean of Applied Sciences at Edinburgh Napier University, explains the impact of business events from an academic perspective.
“As a senior academic, the value of attending business events and conferences over the last 20 years has been essential in learning my trade and is a significant part of any Academic’s career. Knowledge exchange (KE) from universities is not a new concept. What has changed is the motivation, recognition, and assessment of KE. Universities have developed ways to incentivise staff, from inclusion of KE activities in promotion criteria, specific career pathways and financial incentives to work with businesses. These career incentives help to realise beneficial economic impact from research expertise.”
“The pandemic has demonstrated that virtual meetings are possible, but it has also reaffirmed that face-to-face meetings are, by far, the most effective.”
“After attending a recent business breakfast hosted by the Edinburgh Chamber of Commerce at the EICC, it crystalised that the academic and event worlds share the same goals, but we are speaking a slightly different language with slightly different motivations. To align, we must ensure business events become more interdisciplinary and cross-sectoral to progress a shared understanding and focus.”
Speaking at the business breakfast, Lesley Williams, Director of Caeliam Ltd, told the audience:
“The focus for business events has now shifted to “meetings with purpose”, reflecting the industry’s evolution from delivering transactional events to delivering transformative events. The pandemic has demonstrated that virtual meetings are possible, but it has also reaffirmed that face-to-face meetings are, by far, the most effective.
Face-to-face meetings bring people together – they are platforms for creating and sharing knowledge, showing off the latest innovations in a field, sparking conversations and enabling those serendipitous meetings that can lead to greater things. They can play a pivotal role in addressing and solving key economic, health and societal challenges, locally, nationally and globally.
Business events are also crucial for sector development due to the knowledge that is disseminated. When this is transferred to the local population it can improve professional practices within relevant sectors and positively impact local communities in the host destination.”
What Scotland can offer
Scotland’s global reputation for innovation and technological infrastructure makes it an appealing destination for business delegates. We’re proud to say we have:
- A strong research and business base in several key markets, including health and life sciences, energy transition, data and digital
- Numerous innovation clusters and hubs, such as the Edinburgh BioQuarter, which aims to establish a Health Innovation District
- A unique ecosystem in innovation, with a strong collaboration between academics, industry leaders and entrepreneurs
The Scottish Government’s National Strategy for Economic Transformation, which aims to improve innovation and economic outcomes, also helps to attract business events as a platform for improving economic outcomes.