Economic Significance Study

Economic Significance Study

The Economic Significance of Meetings to the U.S. Economy

This landmark study, conducted by PwC US, assisted by a team of industry researchers, spanned more than a year in research and analysis and is the first‐ever study of the size and scope of its kind. The research quantifies the economic contributions made by the 1.8 million meetings, trade shows, conventions, congresses, incentive events and other meetings that take place across the country.

The Economic Significance of Meetings to the U.S. Economy conducted by PwC US was spearheaded by an alliance of 14 organizations representing the collective meetings, travel, exhibitions and events industries in the U.S. brought together via the Convention Industry Council. 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 Association of Destination Management Executives, Exhibition Industry Foundation/Center for Exhibition Industry Research, Financial and Insurance Conference Planners, International Association of onference Centers, International Special Events Society, National Speakers Association and Site.

The Economic Significance of Meetings to the U.S. Economy builds on past research that has demonstrated the return on investment and value of face‐to‐face meetings. In 2009, leading global research firm Oxford Economics established the first clear link between business travel and business growth, proving that for every dollar invested in business travel, businesses experience an average $12.50 in increased revenue and $3.80 in new profits (http://www.ustravel.org/news/business‐travel‐roi). Also in 2009, a national survey of corporate and association meeting planners, plus in‐depth personal interviews with the industry’s leading executives as well as focus groups consisting of corporate and association executives, business travelers and professional meeting planners demonstrated the irreplaceable benefits of human interaction that only can be realized through face‐to‐face meetings, among them are trust and relationship building, and more effective training and exchange of ideas (www.facetimematters.org).

Key Findings and Resources

For a copy of the Executive Summary of key findings, click here.