Meetings industry of Prague generates 170 million euros

Published on : Monday, November 20, 2017

prague300The meetings sector of Prague inclusive of conferences, congresses, corporate meetings and incentive events has generated an annual income of between 170 and 200 million Euro to public budgets as per a fresh KPMG study that was prepared for the Prague Convention Bureau.

 

Only 3.9%, between 6.5 million and 7.5 million Euro would be returned to the budget of Prague.

 

Based on the analysis of KPMG the performance of the tourism business of Prague of which the meetings industry is an essential part represented approximately 1.3 billion Euro on 2016 representing about one third of the overall performance of the Czech Republic.

 

At the same time it is also 6 to 7% of the economic performance of the capital that makes tourism one of the most significant economic sectors in Prague.

 

The meetings sector accounts for 1.1% of the GDP of Prague or 15% of the GDP of the tourism industry of this part of the world.

 

Contrasting to leisure tourism the meetings sector is many time more lucrative in terms of spending by international congress participants. On an average a congress delegate coming from abroad spends 218 Euro which is about four to five times more than spending by leisure tourists.

 

Ondřej Špaček, KPMG expert on tourism feels that the meetings industry of Prague ushers in quite a handsome sum of money to public budgets but then it also leads to specific jobs.

 

This implies that roughly 5,470 full-time jobs that is about 5.5% of the total employment in tourism in the metropolis.

 

The meetings industry in the Czech capital is also expecting robust growth.

 

As per the data from the Czech Statistical Office 2016 was a year when the highest number of events in the last 10 year took place in Prague.

 

Roman Muška, director of the Prague Convention Bureau feels that Prague possesses great potential for event organizers.

 

Tags: , , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 02 AIME 2019
  • 03 AIME 2018
  • 05 ameistanbul 2019
  • 06 aviation-festival-asia 2019
  • 07 thehotelshowsaudiarabia 2019
  • 08 JTTX9 19
  • 10 Asia Pacific 2019
  • 10 Hotel Management Thailand 2019
  • 10 OTM 2019
  • 10 Routes Americas 2019
  • 11 Bar and Restaurant Investment 19
  • 11 Digital Travel 2019
  • 11 MALT 2019
  • 13 ATRTCM 2019
  • 13 Food Hospitality2019
  • 16 EMITT 2019
  • 16 IITM 2019
  • 17 AITF 18
  • 18 UITT 2019

TRAVEL INDUSTRY EVENTS

    1. OTM Mumbai

      January 23 - January 25
    2. CONVENTA

      January 23 - January 24
    3. FITUR 2019

      January 23 - January 27
    4. ITF SLOVAKIA TOUR 2019

      January 24 - January 27
    5. FERIEN 2019

      January 24 - January 27
Get our toolbar!
Review www.travelandtourworld.com on alexa.com