Manchester Central has significantly influenced the local economy in Greater Manchester, contributing over £45 million in Q2 2024.
This remarkable financial boost is attributed to the large number of delegates and business tourists attending various events at the venue.
Economic Boost from Events
In Q2 2024, Manchester Central played a pivotal role in boosting the local economy, contributing over £45 million. This significant impact spans across various sectors such as hotels, bars, and restaurants, driven by the nearly 121,000 delegates it hosted during the quarter. The venue held 34 events, each bringing considerable economic benefits to the surrounding area.
New Leadership and Vision
With Lori Hoinkes at the helm as the new CEO since May, Manchester Central is embarking on a new chapter. Hoinkes, of Canadian origin, is focusing on leveraging international markets, aiming to revitalise this aspect of the business.
She believes that Manchester’s appeal is not just local but global, and the city is strategically poised to attract international organisers. “We have a prime opportunity to lead on this and create significant value in this market, particularly given the levels of new investment coming into the city,” she stated.
Strategic International Focus
Manchester Central’s international strategy is set to build upon existing successes. Hoinkes notes that North America remains a traditional key market, with agreements already in place with organisations such as HYROX and JAMfest for 2025.
The European market is also increasingly recognising the potential of Manchester as a premier location for conferences and exhibitions. Both markets present significant opportunities for growth and collaboration.
Yearly Economic Contributions
Typically, Manchester Central attracts over half a million visitors each year. This influx of guests generates approximately £150 million for the local economy, showcasing the venue’s vital role within the region.
The economic infusion extends beyond just the venue to various local businesses, underlining the comprehensive benefit Manchester Central brings.
Challenges and Opportunities Ahead
While the past quarter’s results are promising, Manchester Central faces ongoing challenges in expanding its international footprint. However, Hoinkes is confident in the venue’s ability to overcome them through strategic planning and targeted efforts.
Aligning with international organisers and investors is seen as a crucial step forward. The focus remains on not just sustaining but enhancing Manchester Central’s global presence.
Conclusion of Q2 2024 Results
The Q2 2024 results demonstrate the extensive economic advantages brought by Manchester Central. As the venue continues to grow and attract more international attention, it cements its status as a global events hub.
The substantial economic contributions of Manchester Central in Q2 2024 highlight the venue’s importance to Greater Manchester’s financial health.
With a strategic focus on international markets, Manchester Central is well-positioned to continue its growth trajectory.