The UK Real Estate Investment and Infrastructure Forum (UKREiiF) has significantly boosted the economy of Leeds and West Yorkshire. This premier event, crucial to the property sector, has generated £21 million in local economic activity.
With an increasing number of attendees and extended delegate stays, UKREiiF is not only strengthening regional economic ties but also showcasing West Yorkshire’s potential as a business hub.
Significant Economic Contribution from UKREiiF
The UK Real Estate Investment and Infrastructure Forum (UKREiiF), held in Leeds, has resulted in an impressive £21 million economic impact on the city and surrounding West Yorkshire region. Organisers have highlighted a notable increase in both the number of attendees and the economic benefits since its inception in 2022. This annual property conference is becoming a key driver for local economic growth.
Increased Delegate Engagement
There was a significant rise in the average duration delegates spent in Leeds, with 41% staying for two nights and 25% for three nights, a notable increase compared to previous years. This extended stay positively influences local businesses and tourism. The increase is attributed to strategic pre-event marketing aiming to encourage more extended visits.
An analysis commissioned from ARUP shows that an increasing number of attendees are visiting Leeds more frequently between events. This indicates a growing interest in what the region has to offer beyond the conference itself.
Local Government and Industry Reactions
Tracy Brabin, Mayor of West Yorkshire, praised the event for attracting both business and political leaders who contribute to the region’s growth.
Tom Riordan, chief executive of Leeds City Council, emphasized the transformative impact UKREiiF has had since its first year, growing from a £5 million impact in 2022 to nearly £21 million.
Councillor James Lewis noted how UKREiiF not only brings economic benefits but also showcases Leeds’ ongoing developments.
Commitment to Economic Diversity and Inclusion
Anna Collinge, senior consultant at Arup, expressed enthusiasm about the reported economic impact of UKREiiF. The estimated growth from £5.5 million in its inaugural year to almost £21 million signifies the event’s widening influence.
UKREiiF demonstrates a commitment to supporting local businesses and promoting economic diversity and inclusion (EDI).
This commitment is reflected in the event’s ability to consistently boost local spending and attract a diverse array of professionals.
Future Prospects and Strategic Goals
Organisers are optimistic about future conferences continuing to build on this economic success. The strategy involves encouraging more delegates to extend their stay, thereby further fueling the local economy.
Reports suggest that this strategy is already yielding results, with businesses in Leeds experiencing increased footfall and tourism as a result of the conference.
Support from Key Stakeholders
Support from local government figures and industry leaders underscores the importance of UKREiiF in the region. The event is hailed as a model for fostering local investment and economic partnership.
Positive feedback from stakeholders emphasizes the role of UKREiiF as a catalyst for development, providing a significant platform for networking and future initiatives.
Impressive Growth Metrics
The transition from a £5 million impact in its initial year to over £21 million highlights UKREiiF’s extraordinary growth potential.
The UKREiiF has demonstrated its substantial contribution to the economic vibrancy of Leeds and West Yorkshire, marking it as a cornerstone event for the region.
As it continues to attract influential delegates and deliver economic benefits, the forum is set to play a pivotal role in the future growth of the area.
