Product category:
Events, meetings and conferences
News Release from: Events Industry Alliance
Edited by the Marketingservicestalk Editorial
Team on 21 March 2007
A SIC note we have been waiting for
EIA delivers a dedicated SIC code for 'Convention and trade show organisers' for the first time after years of negotiating directly with the ONS and through concerted lobbying.
The dedicated SIC code for 'Convention and trade show organisers' follows years of negotiating directly with the Office for National Statistics (ONS) and through concerted lobbying the of the DTI, DCMS and People 1st (Sector Skills Council) "This is enormous news for the events industry
This article was originally published on Marketingservicestalk on 21 Mar 2007 at 8.00am (UK)
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It means that at last our GBP9.3 billion plus industry will have a meaningful classification shoulder to shoulder with the likes of advertising", said Trevor Foley, group chief executive of Events Industry Alliance.
"It has taken a great deal of hard work by a great number of people and will result in raising the profile of our industry as the data becomes easily available to be included and compared alongside other marketing functions".
Since 1948 the Standard Industrial Classification (SIC) has provided a framework for the collection and analysis of data by government and is widely used for administrative purposes and by non-government bodies as a convenient way of classifying industrial activities.
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Now, at last, instead of being lumped under the sub-category SIC 74.87 'Other business activities not elsewhere classified', show organisers' activities will be given well-deserved prominence.
Christopher Newton, chairman of Montgomery Exhibitions, commented: "For too long the industry's contribution to UK plc has gone unrecognised, buried under the awful 'other' catchall.
"The events industry will now stand up and literally be counted, not a moment too soon!" Both the UK SIC and the EUROSTAT System NACE systems are revised every ten years and the new classification known as SIC 2007, which began evolving in 2002, was completed last year.
It will come into effect on 1 January 2008.
The two systems are identical at the four-digit class level and the same as the United Nations system ISIC at the two-digit Divisional level.
The new codes will be broken down into clearly identifiable specific groupings: SIC 82.20 Convention and trade show organisers, SIC 82.30/1 Activities of exhibition and fair organisers [covering consumer fairs], SIC 82.30/2 Activities of conference organisers.
This means that in the EU (and the wider international) context, the four-digit class 82.30 is exclusively for "Convention and trade show organisers" and the industry is no longer swallowed up in "other business activities not elsewhere classified", but given a much higher profile.
In SIC 2007 codes the old 74.87/3 and 74.87/4 will be renumbered 82.30/1 and 82.30/2 respectively.
The new codes will ensure that ONS are able to provide information regarding industry size and a wealth of other useful statistical information.
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