Government Connections - Spring/Summer 2018 - 16

F E AT U R E

Meetings Sector

Drives U.S. Economy

F

ace-to-face meetings and
events play an integral role
in bolstering our national
economy and key business
sectors. For every dollar
spent on face-to-face
meetings and events, an additional
$1.60 - or 160 percent - in benefits
for the U.S. economy is generated,
according to a recent research study
conducted by Oxford Economics and
commissioned by the Events Industry
Council, and supported by the Meetings
Mean Business Coalition and other
industry partners.
A nationwide survey included
data provided by meeting planners,
exhibitors, and venues - including
Society of Government Meeting
Professionals members - and represents
almost 9,000 domestic business travelers,
50,000 international air travelers and
11,000 hotels in the findings. The types
of meetings examined consisted of those
with 10 or more people for four hours or
more within a contracted venue.
In addition to direct spending, meetings
generated $845 billion in business sales.
These numbers represent a contribution
of $446 billion in GDP and $104 billion of
federal, state and local taxes.
NUMBER OF ATTENDEES INCREASES,
DRIVES SPENDING
Good news is in store for meeting
professionals as the sector continues to
expand. In 2016, 1.9 million meetings were
held, attracting 251 million participants.
The increased number of attendees led
to increases in spending. Direct meetings
spending reached $325 billion in 2016,
an increase of 23 percent since 2009. On
16

average, meetings generated $1,294 of
spending per participant. Two-thirds of
meeting spending was associated with
domestic overnight meeting participants.
In terms of direct spending, $325 billion
in direct spending on meetings included:
* $167 billion to plan and
produce meetings,
* $120 billion for meetings travel, and
* $38 billion of other direct spending,
such as spending by exhibitors.
IMPACT ON JOBS
The meetings sector supported
2.5 million jobs, with $95.6 billion of
direct wages and salaries. The sector
directly generated $184.2 billion of
GDP. On average, the direct spending
associated with 43 meeting participants
supported one U.S. job, including both
direct and indirect impacts. Meetings
supported more direct jobs than
many large manufacturing sectors,
including machinery, food, auto, and
chemicals. It sustained more jobs than
the telecommunications and oil and gas
extraction industries as well.
POSITIVE EFFECTS BY INDUSTRY
A selection of industries that were
positively impacted by face-to-face
meetings and events include:
* Food & Beverage: Meeting organizers
and hosts spent $48 billion
to provide food and beverage
services at meetings.
* Hotels & Lodging: Meetings generated
300 million room nights annually,
representing nearly $50 billion of
spending on accommodations.
* Travel & Tourism: Meetings-related
travel expenses represented

GOVERNMENT CONNECTIONS | SPRING/SUMMER 2018

13.2 percent of total travel and tourism
spending in the U.S.
* Government: Meetings generated
$4 billion in labor income, 58,000 jobs,
and $10.5 billion in economic output
specifically for the government sector.
INTANGIBLE BENEFITS OF MEETINGS
To the millions of attendees annually,
business meetings and events provide
a number of intangible benefits that
solidify its importance in driving the
business of the nation. Meetings are
an invaluable source of adult learning,
continuing education for professional
certifications and licensure, a forum for
developing and maintaining professional
contacts, an effective and efficient
means of enhancing sales efforts, a
medium for information exchange and
collaboration leading to innovation,
and other benefits.
"There's been a critical need for
information quantifying the significance
of face-to-face meetings and business
events to the U.S. economy," says Susan
Robertson, executive vice president of
the American Society of Association
Executives and chair of the Events
Industry Council. "Hosting an event,
convention or trade show brings new
revenue to industries across the country.
So many people and companies beyond
the scope of the events industry itself
benefit from its reach."
The impact of meetings is hard to deny.
Clearly it's how business gets done. Read
the full report at eventscouncil.org. 
Source: "Economic Significance
of Meetings to the US Economy,"
Events Industry Council


http://www.eventscouncil.org

Table of Contents for the Digital Edition of Government Connections - Spring/Summer 2018

President’s Letter
Executive Director’s Corner
2018 NEC: Chart Your Course
Extroverts and Introverts Can Play Well Together!
Meetings Sector Drives U.S. Economy
Superheroes Circle
CGMP Corner
SGMP Nation
Advertisers’ Index
Government Connections - Spring/Summer 2018 - Intro
Government Connections - Spring/Summer 2018 - cover1
Government Connections - Spring/Summer 2018 - cover2
Government Connections - Spring/Summer 2018 - 3
Government Connections - Spring/Summer 2018 - 4
Government Connections - Spring/Summer 2018 - 5
Government Connections - Spring/Summer 2018 - President’s Letter
Government Connections - Spring/Summer 2018 - Executive Director’s Corner
Government Connections - Spring/Summer 2018 - 8
Government Connections - Spring/Summer 2018 - 9
Government Connections - Spring/Summer 2018 - 2018 NEC: Chart Your Course
Government Connections - Spring/Summer 2018 - 11
Government Connections - Spring/Summer 2018 - 12
Government Connections - Spring/Summer 2018 - Extroverts and Introverts Can Play Well Together!
Government Connections - Spring/Summer 2018 - 14
Government Connections - Spring/Summer 2018 - 15
Government Connections - Spring/Summer 2018 - Meetings Sector Drives U.S. Economy
Government Connections - Spring/Summer 2018 - 17
Government Connections - Spring/Summer 2018 - 18
Government Connections - Spring/Summer 2018 - Superheroes Circle
Government Connections - Spring/Summer 2018 - 20
Government Connections - Spring/Summer 2018 - CGMP Corner
Government Connections - Spring/Summer 2018 - SGMP Nation
Government Connections - Spring/Summer 2018 - 23
Government Connections - Spring/Summer 2018 - 24
Government Connections - Spring/Summer 2018 - 25
Government Connections - Spring/Summer 2018 - Advertisers’ Index
Government Connections - Spring/Summer 2018 - cover3
Government Connections - Spring/Summer 2018 - cover4
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