Powerful impact of US meeting business

Tuesday, 22 Sep, 2005 0

The US’s meeting and convention business is a 365-day-a-year enterprise that last year generated $122.3 billion in direct spending, making it the 29th largest national product.

The Convention Industry Council (CIC) recently released those figures that showed the business generates more than 36% of the hotel industry’s operating revenues. Convention attendees also accounted for nearly 17% of the airlines’ income.

Association-sponsored events accounted for two-thirds or more than $81 billion of the direct spending industry total.

Corporate and incentive travel accounted for the remaining one third, or more than $40 billion.

“With this study, CIC hopes to increase public awareness of this vital economic engine,” said Mary E. Power, CEO of the CIC.

Report by David Wilkening



 

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