What's the economic impact of the meetings industry?

Event professionals can take part in survey to help measure the direct, indirect and catalytic impacts of the meetings industry.

Photo Credit: GettyImages/Tetiana Lazunova

The Events Industry Council (EIC) continues to collect data for its Economic Significance Study, which it is conducting in partnership with Oxford Economics.

The goal of the survey is to calculate the contribution that the business events industry makes to the global economy. For the first time, the study will also measure the cumulative losses experienced due to the pandemic.

Through the collected data, the EIC can establish the full value of meetings for 2022 and beyond, as well as strategies being employed by the meetings and events industry to accelerate its recovery.

The organisation has also released its latest Global Business Events Barometer for the fourth quarter of 2022, which monitors changes within the market relative to pre-pandemic levels. The barometer points to continued growth across seven global regions in both RFP activity and hotel group room nights.

"As the voice of the global events industry, we are committed to continuing to collect, curate and share accurate and relevant data on the condition of the industry," said Amy Calvert, CEO of EIC.

"We know that business events are a major contributor to the global economy and by determining the full value of meetings in 2021, as well as prospects for 2022, we are able to actively provide a clear and credible statistical base on which to gain recognition for our industry as a vital economic driver."

In 2017, business events supported 26 million jobs, reached 1.5 billion people and contributed US$1.5 trillion of GDP. Take the survey to help the EIC measure the industry's current direct, indirect and catalytic impacts. Survey respondents will receive one CE toward their CMP or CMP-HC application or recertification requirements.

Take this survey.

Source: Northstar Meetings Group

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