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events, they represented nearly 12 percent of direct spending, due to the fact that they typically stay longer and spend more money. While that audience only comprises approximately 2 percent of the 251 million attendees at U.S. In 2016, six million international attendees came to the U.S. The findings underscore that in order to expand that impact in 2018 and beyond, the events industry will need assistance from the government to make sure that attendees from outside the U.S. THE IMPORTANCE OF INTERNATIONAL ATTENDANCE “The services provided by the meetings industry often go unnoticed,” said Paul Van Deventer, president and CEO of Meeting Professionals International and co-chair of the Meetings Mean Business Coalition, who participated in the briefing.

“These are large numbers,” Sacks said, but they are even more meaningful “in relation to other industries in the U.S.” In addition to spending, the industry supported nearly six million individual jobs. Sacks said that meetings supported $845 billion in business sales, $104 billion in federal, state, and local taxes, and $446 billion of the country’s GDP. That return added up to some very large numbers. “It’s a 160-percent return on investment.” economy,” Sacks said in the briefing about the findings.

“For every dollar spent on face-to-face meetings and business events in 2016, it generated an additional $1.60 in benefits to the U.S. Indirect spending includes revenue streams such as the utility bills from a trade show, and the induced category relates to the trickle-down spending from employees who earn wages due to events-industry-related activities. 21 that the study calculated three levels of impact: direct, indirect, and induced spending. These are among the takeaways of “The Economic Significance of Meetings to the US Economy” report, which updates the 2009 report by the same name, from Oxford Economics, the Events Industry Council, and the Meetings Mean Business Coalition, released in February.Īdam Sacks, founder and president of Tourism Economics, an Oxford Economics company, said in a press briefing on Feb. The industry also employs more workers than the telecommunications sector or oil and gas. In terms of jobs, the meetings and events industry creates more direct jobs than large manufacturing sectors such as automotive, chemicals, and food.