Experience UK has launched Experience Talks, a new industry engagement and advocacy programme bringing together leaders from across the experience economy, property, investment and government to identify barriers to growth and help shape the future of the sector.
The UK’s experience economy is estimated to contribute more than £134 billion annually to the national economy and support approximately three million jobs across hospitality, leisure, tourism, entertainment and culture. Yet despite its scale and growth potential, the sector continues to face challenges around investment, representation, property, skills and international expansion.
Experience Talks has been created by Experience UK to provide a platform for these issues to be explored collectively and to develop practical solutions that can support the sector’s next phase of growth.
Through a programme of roundtables, stakeholder meetings, events, consultation and industry polling, Experience UK will bring together experience creators and operators alongside landlords, developers, investors, place-makers, policymakers and other stakeholders.
The programme will have a particular focus on the rapidly evolving entertainment sector, including IP-driven projects, immersive experiences, competitive socialising, retail and location-based entertainment.
Creating a stronger environment for growth
Experience Talks will examine some of the structural challenges facing businesses as they develop and scale.
Many of the UK’s most innovative experience developers and operators are SMEs, creating ambitious new concepts while simultaneously navigating investment, property, tax, business planning and expansion. At the same time, cities, developers and landlords are increasingly looking to leisure and experiences to animate destinations and diversify traditional retail environments.
Experience UK believes there is an opportunity to create stronger connections between these communities, building greater understanding between experience businesses, property owners and investors and opening new routes to collaboration and growth.
The programme will explore questions including how landlords and experience operators can work more effectively together; how investment can help incubate and accelerate high-growth concepts; whether the sector could benefit from more appropriate tax and financial incentives; and how successful British concepts can realise their potential internationally.
Turning industry insight into action
Crucially, Experience Talks is intended to move the conversation beyond identifying challenges towards developing actionable solutions.
Areas under consideration include improving access to investors and specialist advice for SMEs; creating new networking and matchmaking opportunities between operators, developers and investors; supporting domestic and international expansion; and strengthening engagement with government on policies and incentives affecting the sector.
Insight gathered through Experience Talks will also contribute to the development of a UK Experience Economy White Paper, designed to articulate the needs and opportunities of the sector and provide recommendations for supporting its future growth.
Ian Clappison, Chief Executive Officer of Experience UK, said:
“The UK has an extraordinary experience economy, with businesses creating and delivering some of the most innovative attractions, entertainment concepts and visitor experiences in the world.
“Experience Talks is about bringing together the different communities that can help unlock its next stage of growth. By connecting operators and creators with investors, landlords, developers, cities and policymakers, we want to understand where the barriers exist and, importantly, identify practical ways to overcome them.
“This is an opportunity to give the experience economy a stronger collective voice, build greater recognition of its economic potential and create the conditions in which British businesses and ideas can grow both here in the UK and internationally.”
Experience Talks will take place through a programme of discussions and events across the UK and at key industry gatherings, providing opportunities for businesses and stakeholders to contribute their expertise and perspectives.