U.S. meetings sector generates $330 billion annually

Published on : Wednesday, January 10, 2018

Meetings industryAs per a soon-to-be-released study, the U.S. meetings industry has generated an overwhelming $330 billion annually in the United States.

 

The Events Industry Council’s Meetings Significance Survey is the much-awaited follow-up on the inaugural research of the group that was first put up in the year 2014. And the last study reveals a $50 billion increase in total revenue since that time.

 

And this study is actually based on the latest data thanks to Longwoods International, Oxford Economics, the National Travel and Tourism Office and hotel-data provider STR.

 

In total, the study had surveyed 1,300 planners, 9,000 domestic corporate tourists, 50,000 international travellers and 11,000 hoteliers.

 

At a preliminary report data revealed by the Meetings Mean Business coalition at an annual meet of the Professional Convention Management Association in Nashville, stated that the meetings industry of this part of the world is the strongest ever observed so far.

 

In fact the meetings sector has triggered direct spending that is supported by meetings.

 

And, it has exceeded the sales of businesses in the air, rail and water-transportation sectors altogether, as observed by the forthcoming survey. Furthermore the meetings sector has been performing better as compared to the other sectors including recreation, arts and entertainment.

 

Julie Coker Graham who is the president and CEO of the Philadelphia Convention and Visitors Bureau feels that they need to contribute towards the economic value and also benefits that can be offered to the local communities.

 

The preliminary data in 2016 states that nearly 1.9 million meetings had taken place all across the nation covering over 250 million participants.

 

Of these, six million were international participants.

 

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