UKREiiF Brings £20.9m Economic Boost to Leeds and West Yorkshire
An independent report by ARUP has highlighted that The UK’s Real Estate Investment and Infrastructure Forum (UKREiiF), a major event taking place annually in Leeds, has generated almost £21m of local economic activity in the city and the wider West Yorkshire region in 2024. The event, which brought together over 13,000 official attendees in 2024, has now generated £38.5m since its inaugural event in 2022.
Nathan Spencer, Director of UKREiiF, said: “We’ve always wanted UKREiiF to be more than just an event – year round we’re looking at ways UKREiiF can benefit the local community in West Yorkshire, and part of our marketing activity before the event was looking at much more than just growing the attendance in terms of numbers, we were reviewing how to get people spending more time in the region, and how we can get them to return more frequently. We’re delighted to continue our work with ARUP to showcase the truly incredible results UKREiiF is having on the local economy, and we look forward to hosting the event in the city once more in 2025.”
Key highlights from the report include:
- £38.5m economic boost since 2022 (£5.5m 2022, £12.1m 2023, £20.1m 2024)
- 41% of delegates staying for 2 nights in the city region (up from 38% in 2023) and 25% of delegates staying for 3 nights in the city region (up from 22% in 2023)
- 3.5% of delegates staying for 4 or more nights in the city region (up from 3.1% in 2023)
- 33% of people attending UKREiiF are now visiting Leeds more frequently between each event ‘due to the event’
Mayor of West Yorkshire Tracy Brabin said: “Thousands of business and political leaders have flocked to West Yorkshire for this event over the past three years – and they’re returning because they recognise that our region’s best days lie ahead of us.
“Harnessing the power of devolution, our Local Growth Plan will build on this momentum and give us the transport, skills and housebuilding we need to create strong businesses, well-paid jobs and deliver the government’s growth mission.
“It’s great to see how UKREiiF is supporting growth in our local economy, as we work to build a stronger, brighter region where opportunity thrives.”
Tom Riordan, Chief Executive of Leeds City Council said: “In its first year, coming out of the pandemic, UKREiiF’s impact was £5 million straight away from a standing start, and its now close to £21 million – that’s an incredible success story for Leeds, for West Yorkshire and for the UK!”
Councillor James Lewis, leader of Leeds City Council said: “The great thing about UKREiiF for me is it brings thousands of people to Leeds who get to see a lot of the changes that have happened over the past five to ten years, and of course the £21 million its brought to the city this year means it’s an event that has put Leeds on the map. Its great to see the city doing so well out of UKREiiF!”
Anna Collinge, Senior Consultant | Cities, Planning and Design, Arup said: “We are excited to have estimated the economic impact of UKREiiF for the third year running. We have seen UKREiiF’s increasing impact over time, from £5.5m in 2022 to almost £21m this year. UKREiiF’s commitments to local businesses and EDI have been evident, and we have really enjoyed working alongside the UKREiiF team on this project”.
The methodology used by ARUP involved analysing organiser spend, visitor spend, and fringe event organisation spend, along with applying external models created such as those by Deloitte and Oxford Economics Multiplier Model to capture the proportion of money reinjected into the local economy, alongside utilising data from the likes of Visit Britain and Visit Leeds, and that capturing during the registration process by UKREiiF. For more information contact nathan.spencer@ukreiif.com