Chairman Steven Freudmann said the former Labour MP and shadow chancellor would open the event from June 6-8 in Tel Aviv with a speech on the economy before taking part in a Q&A session.

Balls will also appear in a panel discussion examining the UK referendum on EU membership, which is set to be held by the end of 2017 and could be imminent at the time of the conference.

Freudmann said: “As a former shadow chancellor and first secretary under Gordon Brown’s chancellorship, he’s pretty well placed to give us his predictions both for the world economy, the UK’s economy and the industry too.

“We should also be quite close to a referendum and we’ll be putting together a panel of senior MPs to discuss the impact of staying with or leaving the EU – no doubt Ed will be a part of the panel.”

Freudmann added that while Balls was no longer in the heart of the political storm after losing his seat in the May election, his ongoing work in the highest levels of academia should mean he is well informed.

“He may have lost his seat but so have many other MPs,” Freudmann said. “Winston Churchill lost his seat. Ed Balls has a huge intellect and his experience working both under Tony Blair and Gordon Brown is pretty unparalleled.”

Other speakers lined up for the conference include Tui Group joint chief executive Peter Long and Thomas Cook UK managing director Chris Mottershead.

Freudmann added that he hoped Long would draw upon his appointment as chairman of the Royal Mail in June to offer the industry a wider perspective in his speech. He also believes Mottershead will be able to update delegates on the future of Cook, adding: “We want him to talk about his plans and strategy for Thomas Cook UK over the next few years.”

• Audley Travel Group chairman Richard Prosser will be the guest speaker at the ITT Odyssey Supper House of Commons on February 4.