The report highlights the importance of the sector in driving economic growth and job creation. It also emphasizes the importance of the sector in supporting local communities and businesses. The report further details the economic impact of the tourism and event industry in 2022, including the number of jobs created, the amount of money spent by tourists, and the contribution to local businesses.

This is a crucial factor to consider when planning and executing events, as it can significantly impact the success of the event. The event industry is facing a number of challenges, including a shortage of skilled labor, rising costs of production, and a growing demand for sustainability. These challenges are further compounded by the ongoing pandemic, which continues to pose a threat to the event industry.

“It is estimated that this single event delivered approximately £6m to the Scottish Borders. Another key event has been the Tour of Britain which has taken place in a number of locations throughout the Scottish Borders on numerous occasions. “In 2022 the estimated economic impact of the Tour of Britain was in excess of £3m and these examples help confirm that events are a significant contributor to the local economy.”