The UK's ambition to become a world-leading destination for international business events has been dealt a significant setback following a 41 per cent cut in funding to VisitBritain from the government’s GREAT programme.
The announcement, made on 1 April, will see VisitBritain’s ‘GREAT Britain and Northern Ireland’ destination promotion programme budget cut from £18.85 million in 2024-2025 to £10.57 million for 2025-2026.
The move has sparked concern across the tourism and events sector, with industry leaders warning that the decision will undermine efforts to attract global conferences, trade shows, and investment-generating events to British shores.
While VisitBritain told AMI that business events activity wouldn’t be directly impacted by the cut, industry players haven’t held back in voicing their concerns for funding and the government’s apparent lack of support for the visitor economy.
In an open letter from the Tourism Alliance addressed to Ellie Reeves MP, 50 signatories from the tourism and business events industries, including Louisa Watson, chair of beam, communicated their 'extreme disappointment and concern about the substantial cut in VisitBritain’s GREAT funding.'
“At our recent The Business of Events Global Policy Forum, tourism minister Sir Chris Bryant reminded us that a third of the visitor economy is driven by events and that people who come to business events in the UK often stay on for leisure purposes or end up living here or investing here,” said Mike Fletcher, director of news and content at The Business of Events, which held it Global Policy Forum on the day the cuts were announced.
“The Government’s National Visitor Economy Strategy will target 50 million international visitors a year to the UK by 2030 and events will need to play a key role in achieving that. It’s therefore disappointing to learn of VisitBritain funding cuts, especially against a backdrop of more complex and higher visa fees. We need to work closely with the UK Government to deliver The Business of Events' policy agenda and with a planned DCMS Select Committee inquiry later this year, long-term funding and support are key areas that will need addressing.”
Glenn Bowdin, chair of UKEVENTS, echoed Fletcher’s disappointment explaining: "VisitBritain plays a crucial role in supporting UK events and the wider tourism industry. The reduction in GREAT funding undermines the efforts to showcase the UK’s diverse and vibrant events on the global stage and attracting major business events to the UK. We stand firmly with VisitBritain and urge the Government to reconsider this decision.
"The UK events industry is ready to support the Government’s economic growth mission. However, we need consistent and adequate funding to continue attracting international visitors and maintaining our competitive edge. We urge the GREAT Programme Board to reconsider the funding cuts and work collaboratively with the industry to ensure sustainable growth."
However, Nick de Bois, chair of VisitBritain, who was recently told his term would end on 31 October 2025, told The Independent that: “Government and in particular the Treasury just doesn’t get tourism. It doesn’t see its power to drive economic growth across the regions, to encourage investment, to build positive perceptions of Britain overseas, to get people into work and train them up to have fulfilling careers.”
The Tourism Alliance’s letter asked the government, specifically the GREAT Board, to explain its reasoning behind the decision to make this level of cut and offered its assistance in future decisions.
