Business tourism in Edinburgh, Scotland's capital city, has defied the global downturn by delivering an increase in the economic value of conferences won during the past year.
The good news for city was revealed by the Edinburgh Convention Bureau (ECB), the body responsible for promoting Edinburgh as an international conference destination.
Sue Stuart, chief executive of ECB, has reported that the value of the conferences they helped attract for the city in the last financial year was £73.5 million which exceeded their target by £700,000.
She commented: "In the current difficult economic climate we are delighted to report we have beaten the target we set a year ago. Taking a realistic view of the financial environment we knew we would face a difficult year and a standstill target of £72.8 million was set. The global downturn coupled with increasing competition at home and abroad has made winning business very difficult."
The ECB's results for 2008-09 show 201 events were won for Edinburgh, bringing with them 53,427 business delegates who spend an average of £364 per day, 80% more than leisure visitors.
During the year 2007-08 a total of 197 events were booked for the city with an associated 62,358 delegates.
As the prospects for the global economy show a continuing downturn the ECB has again set a standstill target of £73.5 million of economic impact in the business it will seek to confirm in 2009-10.
Looking further ahead, the ECB currently has events booked until 2014 that will be worth an estimated £57.7 million to the local economy. The organisation is also pursuing bids for 44 events up to 2017 which if they are converted into confirmed bookings will deliver a further £52.3 million of economic benefit.
Announcing 11 new conference bookings confirmed between February 20 and March 31 this year, worth £2.7 million, Sue Stuart said: "These are undoubtedly tough times for everyone but Edinburgh continues to prove itself a world class conference and meetings destination. The city has a great deal to offer in terms of its setting, historic character and value for money."
She added: "The economic uncertainty does however offer us a window of opportunity. The impact of the downturn on the exchange rate allows us to promote the city as an alternative quality and price competitive destination to those organisations and companies who may normally take their conference abroad and have been forced to look for a venue closer to home."
"We intend to vigorously pursue a strategy of promoting Edinburgh as the destination of choice for corporate events being planned by UK companies, particularly those in the south east of England. Arrangements are already underway to hold an initial promotional event in London in June. Event organisers and leading companies will be invited to learn what Edinburgh has to offer in quality of accommodation, venues, atmosphere and overall experience."
For more information, visit Edinburgh Convention Bureau
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