The three-week festival hosted in Liverpool ran from 13 June to 1 July and drew tens of thousands of business people to the city region to trade with UK businesses.
The festival welcomed 103 international delegations made up of 800 companies from across the globe, along with thousands of UK businesses and visitors.
Now an independent evaluation, commissioned by Liverpool Vision, reveals that more than 500 UK businesses secured or expect to secure £87m in export sales as a direct result of the festival.
Domestic trade was also strong, with over 850 UK businesses reporting that they had secured or expect to secure £145m of UK sales.
Attending the festival boosted engagement and interest in exporting, with 13% of participant UK companies now actively exploring exporting for the first time and 17% of UK businesses exploring new export markets.
The research also shows that 250 UK businesses expect to attract about £10m of overseas investment as a result of taking part in IFB2016, and 300 UK businesses expect to secure some £12m of investment from within the UK.
Liverpool mayor Joe Anderson said: “IFB2016 was a brilliant platform to boost UK business and showcase the UK’s offering to the world.
“It was also a brilliant opportunity to showcase Liverpool. The findings of the research show that this year’s event has built on the success of IFB2014 and delivered tangible benefits to UK businesses and communities.”
IFB2016 was delivered by the Mayor of Liverpool’s economic development agency Liverpool Vision in partnership with UK Trade & Investment (UKTI), the GREAT Britain Campaign and with the support of the UK Government.
More than 14,000 delegates took part in the festival, 1,700 from 98 countries overseas and 12,700 from the UK. Together, they made more than 26,000 day visits to the festival.