Events > experienceeconomy

How to Profit from the Experience Economy

Wednesday 1st May 2024

How to Profit from the Experience Economy

Unlock new international business opportunities at the Department for Business and Trade's Experience Economy Seminar hosted in partnership with Experience UK & Media Cymru

What is the Experience Economy and why should I take note?

As people increasingly spend disposable income on experiences rather than material goods, competition for customer time and loyalty has intensified – driving the growth of the so-called “experience economy”. Frontier Economics suggests that the experience economy is worth £750m a year in the UK alone. Other research puts the global value in the trillions of dollars.

Visitor attractions from entertainment venues, theme parks, museums, retail outlets to branded destinations, and even entire districts, are spending heavily on creating better visitor experiences. Saudi Arabia alone is investing tens of billions of dollars in building a new experience economy infrastructure – UK creative companies are already winning over £100m a year in the Kingdom as a result, and we want to ensure companies in Wales are also able to access these lucrative opportunities in the future. 

Why attend? 

  • Learn more about the huge growth potential of the Experience Economy from businesses already profiting from it.
  • Find out what buyers in the market are looking for and discover international opportunities for UK creatives from DBT’s Middle East Business Specialist.
  • Network and learn from market experts and seasoned experience economy exporters from around the UK.

Who should attend? 

The Experience Economy globally covers a wide range of creative skillsets, all of which are well represented in Wales. So, if you are in the business of Storytelling, Architecture, Technology, Entertainment and Design, or are just interested in learning more about the international opportunities and support available to profit from this growing sector, then please join us!

Seminar details: 

Date: Wednesday 1st May 2024 

Time: 14:00-17:00 followed by a social immersive experience hosted by Experience UK

Location: Ty William Morgan, 6 Central Square, Cardiff, CF10 1EP

Social event details: 

Organised by Experience UK, the leading trade association of the experience economy - an immersive experience at Alcotraz Cardiff: Cell Block Nine-One! 

Following the experience, you will have the opportunity to meet and engage with Sam Shearman, Director of the company behind several immersive theatre experiences throughout the UK, Inventive Productions.

Date: Wednesday 1st May 2024 

Time: 17:30-19:30

Location: Alcotraz, Unit 9a Brewery Quarter, Cardiff CF10 1FG 

How to attend this event:

Register for DBT's 'How to Profit from the Experience Economy' seminar here. The seminar is free of charge.

Register for the Experience UK social event here. 

Please note, these are separate events and therefore you will need to register separately. 

Confirmed Speakers

We have gathered together some of the most highly respected professionals in the industry to discuss the opportunities for Welsh businesses in the experience economy sector. Among our esteemed speakers and panelists are:

SPACE

To find out how you can profit from the Experience Economy sign up now. 

SPACE

Partners

Department for Business and Trade: We are the department for economic growth. We support businesses to invest, grow and export, creating jobs and opportunities across the country.
 
Experience UK: Experience UK is a globally recognised trade body which exclusively flies the flag for the UK Experience Economy. The trade body is the go-to organisation for representing Great British companies that create, deliver, and operate worldwide attractions and visitor experiences. To raise the profile of the UK Experience Economy, Experience UK often works in partnership with the UK’s Department for Business and Trade and an industry-driven Executive Committee and Advisory Board. They work closely together to deliver a programme of support for Experience UK members, including taking delegations to the sector’s flagship tradeshows, offering tailored global trade missions, and conducting insightful market research, which highlights new and emerging opportunities for members to involve themselves in.
 
Media Cymru: Media Cymru is a collaboration aimed to turn Cardiff and the surrounding capital region’s media sector into a global hub for media innovation with a focus on green and fair economic growth. Led by Cardiff University, this strategic investment programme brings together 23 media production, broadcast, technology, university and local leadership partners for the first time to supercharge media innovation.  Media Cymru is funded through £22m from UK Research and Innovation’s (UKRI) flagship Strength in Places Fund, £3m from Cardiff Capital Region, £1m from Welsh Government, through Creative Wales, and £23m match funding from industry and university partners.