United Kingdom
United States
Asia Pacific
Multi-billion dollar impact for meetings industry
The meetings industry generates around $770 billion for the US economy, according to a report by the Convention Industry Council (CIC).
The report, titled ‘the Economic Significance of Meetings to the U.S. Economy 2012’, shows that in 2012, 1.83 million meetings were held in the US, up from 1.8 million in 2009, when the CIC’s last study was carried out.
Meeting attendance rose with over 225 million attending a meeting, conference or trade fair, which generated $115 billion to GDP.
Around 85% of these meetings were held at venues with on-site accommodation, producing 275 million room nights.
The CIC estimates a total economic impact of US meetings in 2012 to be $770.4 billion.
The study shows that most participants generally travel 50 miles or more to attend a meeting, spending on hotels, transportation and restaurants, which all contributed to federal, state and local tax revenues, reaching $88 billion for the year.
Last month the CIC re-launched the ‘Meetings Mean Business’ campaign to highlight the benefits of face-to-face meetings in the wake of drastic cutbacks in federal government travel spending.
Related News Stories:
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled