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February 28, 2014

PCMA: Calculating The Real Value Of The Meetings Industry




by Carolyn Clark

As the meetings industry works to articulate the true value of face-to-face conferences, the Convention Industry Council has released a new study that highlights just how much meetings mean to the United States economy. “The Economic Significance of Meetings to the U.S. Economy” offers a comprehensive look at what all those attendees, sessions and hotel rooms mean to the public. Spoiler alert: the findings are very impressive.

PricewaterhouseCoopers conducted the research as a follow-up to the first-ever economic impact study, which relied on data from the industry in 2009. The updated report uses 2012 figures, and it shows just how much the post-recession climate has helped the industry. Participant volume increased by 10 percent, and meetings’ contribution to the overall GDP increased by nearly nine percent. As spending has increased, employment has picked up, too. The meetings industry gave nearly 1.8 million people jobs in 2012.

“These numbers paint the real portrait of what meeting professionals mean to the bigger picture,” Deborah Sexton, President and CEO, PCMA, says. “As we bring attendees together to learn, network and share ideas, we’re also delivering real bottom-line impact for the rest of the country.”

“The meetings industry stretches well beyond the four walls of a convention center ballroom or a hotel,” Sexton adds. “This report shows that our industry is absolutely vital to the continued recovery of the U.S. economy.”

Read more at PCMA.org...


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