Published on : Thursday, February 13, 2014
Destination Marketing Association International (DMAI), joins 13 fellow members of the Convention Industry Council and release data on the Economic Significance of Meetings to the U.S. Economy. An update to a 2009 study, new figures show significant increases in meeting participants, direct spending, tax contribution and job growth from 2009 to 2012.
“The Economic Significance of Meetings to the U.S. Economy study that released in 2009 underscored the overwhelming importance of the meetings industry as a formidable driver for economic growth in the country,” said Michael Gehrisch, President and CEO of DMAI. “Because destination marketing organizations and the communities they represent, work every day to support the continued success of the meetings and events industry, DMAI understood the significance of updating this study and is proud to have partnered yet again with CIC on these efforts.”
During the 2012 calendar year, 1.83 million meetings were held in the US, attended by 225 million participants, providing more than $115 billion to fuel the economy. Meetings contribution to GDP surpasses that of the air transportation, motion picture, sound recording, performing arts and spectator sport industries.
“The data proves organizations continue to value and place a priority on face-to-face meetings, even during a recovering economy,” said Karen Kotowski, CMP, CAE, chief executive of the Convention Industry Council. “Not only were more meetings held — they were attended by more people. We saw a 10% jump in the number of meetings participants from 2009 to 2012.”
“More meetings bring more jobs,” continued Kotowski. “Meetings increased employment at a time when many industries didn’t have the same opportunity. In 2012, meetings employed nearly 1.8 million people. That’s 137,000 more jobs in 2012 than in 2009.”
Meetings also made a local impact and supported cash-strapped local communities with tax revenue, generating $38 billion dollars in state and local taxes.
DMAI will be sharing the Executive Summary via email to all members and make it available for public download here.
Destination Marketing Association International (DMAI) protects and advances the success of destination marketing worldwide. DMAI’s influential membership includes nearly 600 official destination marketing organizations (DMOs), also known as tourism boards or Convention and Visitor Bureaus, from nearly 20 countries that command $2.5 billion in annual budgets. As the world’s largest and most reliable resource for DMOs, it provides more than 3,700 individual members – professionals, industry partners, educators and students – the most innovative and relevant educational resources, networking opportunities and marketing intelligence worldwide.
The Economic Significance of Meetings to the U.S. Economy conducted by PwC US was spearheaded by an alliance of organizations representing the collective meetings, travel, exhibitions and events industries in the U.S. brought together via the Convention Industry Council (www.conventionindustry.org). Primary funding organizations include American Hotel & Lodging Association, ASAE, Convention Industry Council, Destination Marketing Association International/Destination & Travel Foundation, Meeting Professionals International Foundation, Professional Convention Management Association/Education Foundation and U.S. Travel Association. Other allied industry partners include Center for Exhibition Industry Research, Convention Sales Professionals International, Event Service Professionals Association, Financial and Insurance Conference Planners, International Association of Exhibitions and Events, International Special Events Society and National Speakers Association.
The Convention Industry Council’s 33 member organizations represent over 103,500 individuals and 19,500 firms and properties involved in the meetings, conventions, and exhibitions industry. The mission of the Convention Industry Council is to provide a forum for member organizations to exchange information on global trends and topics, promulgate excellence in best practices and guidelines, collaborate on industry issues and advocate the value of the meetings, conventions, exhibitions and events industry.
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