Get a Preview of New Figures on the Economic Impact of Meetings

The Convention Industry Council (CIC) released top-line data from the 2014 Economic Significance of Meetings to the U.S. study during the "Meetings Mean Business" Press Conference at the recent PCMA Convening Leaders event in Boston. The full report will be an an update to the original Economic Significance Study (ESS) published in 2010.

Using new data from 2012, the study identified growth in a number of areas. Compared to the 2009 data:

Participant volume at meetings and events increased by 10 percent;
Meetings’ contribution to GDP increased by almost 9 percent, providing more than $115 billion to fuel the economy;
The industry’s contribution to federal, state and local tax dollars increased by 9.6 percent, providing more than $28 billion in tax receipts; and
The industry stimulated job growth with an 8.3 percent increase, providing jobs for more than 1.7 million Americans.

The report will also reveal information such as:

The number of meetings and participants by meeting type;
Percentage breakdown of meeting expenditures; and
Further GDP contribution analysis.

"Commissioned by CIC’s members back in 2009, the Economic Significance Study represents much more than hard data," said Karen Kotowski, CMP, CAE, chief executive of the Convention Industry Council. "As an industry we made a commitment to better understand the economic value of the meetings industry. Since then, associations have built on these efforts to promote not only the economic but the social value of what we do, rooted in that same belief. The Meetings Mean Business Coalition is one of them and as a member of the coalition, CIC looks forward to being an active member of the campaign."

The full report will be released in the coming weeks an announced on the CIC website and social media outlets.

The Certified Meeting Professional (CMP) is a
program of the Convention Industry Council

Convention Industry Council
700 N. Fairfax Street, Suite 510
Alexandria, VA, USA, 22314
Tel: 571-527-3116