Economic Significance Study - Key Findings

The Meetings Industry’s Direct Contributions to the U.S. Economy:

1.8M corporate and business meetings, trade shows, conventions, congresses, incentive events and other meetings take place in the U.S., resulting in:

  • $263B in spending
  • 1.7M U.S. jobs
  • $106B contribution to GDP
  • $14.3B federal tax revenue
  • $11.3B state and local tax revenue
  • $60B in U.S. labor income

 Total Economic Output of the Meetings Industry including direct spending and multiplier effects (indirect/suppliers and induced/other attendee spending):

  • $907B in total U.S. economic activity
  • 6.3M U.S. jobs
  • $458B contribution to GDP
  • $64B federal tax revenue
  • $46B state and local tax revenue
  • $271B in labor income

 Meetings Industry Volume, Lodging and Attendees:

  • 205M attendees participate in the nation’s 1.8M conventions, conferences, congresses, trade shows and exhibitions, incentive events and corporate/business meetings
  • Of the 1.8M meetings, 1.3M are classified as corporate or business meetings
  • 85% of meetings are conducted at venues with lodging
  • The 1.8M meetings generate 250M room nights/overnight stays
    • Of the 205M attendees, 117M are domestic attendees who travel more than 50 miles or stay overnight, 83M travel less than 50 miles or do not stay overnight and 5M are international travelers
  • Of the 205M attendees, 162M are delegates, 18M are exhibitors and 25M are others, including event organizers, staff, press, etc.

 Direct Spending Breakdown:

  • The meetings industry contributes $263B in direct spending to the U.S. economy
  • Of the $263B, $151B is meeting planning and production related
  • Of the $263B, $113B is travel and tourism related
    • The $113B in travel and tourism spending is 16% of the $708B Travel & Tourism sector in the U.S.
    • Delegates, exhibitors and other attendees spend $145B on attendance‐related items, the majority (46%) on registration fees, accommodations (17%) and food and beverage (13%).  Other industries supported include air transportation (9%), retail (3%), gasoline (3%), entertainment/recreation (3%), car rental (3%) and urban transit (1%)

GDP Contributions Breakdown:

  • The meetings industry’s direct contributions to GDP are $106B
    • Meetings’ $106 billion contribution to the U.S. GDP is greater than, for example, auto manufacturing ($78B), performing arts/spectator sports/museums ($71B) and information and data processing services ($76B)
  • Combined direct, indirect and induced effects of the meeting industry to GDP total $458B

 Employment and Labor Income Breakdown:

  • 1.7M U.S. jobs are directly supported by the meetings industry
  • $60B in U.S. labor income is directly generated by the meetings industry
    • Direct employment contributed is more than, for example, broadcasting and telecommunications (1.3M), truck and rail transportation industries (1.5M) and computer systems design and related services (1.4M)
  • Direct employment supports the meetings industry (organizers, venues), as well as tourism industries such as food and beverage, accommodation, transportation, recreation/entertainment, retail, travel services and more
  • Combined direct, indirect and induced effects of the meeting industry support 6.3M U.S. jobs
  • Combined direct, indirect and induced effects of the meetings industry result in $271B in U.S. labor income

 Federal and State/Local Tax Revenue Breakdown:

  • $14.3B in federal tax revenue is directly generate by the meetings industry
    • Combined direct, indirect and induced effects of the meetings industry result in $64B in federal tax revenue
  • $11.3B in state and local tax revenue is directly generated by the meetings industry
    • Combined direct, indirect and induced effects of the meetings industry result in $46B in state and local tax revenue

Executive Summary and Resources

For an Executive Summary of the study and more information, visit www.MeetingsMeanBusiness.com.  There you'll also find tools and resources for promoting and advocating the value of meetings.