Events Council Blog

The Economic Impact of Events

Jan 12, 2018

As we kick off the New Year, we are excited to share preliminary data from our most recent evaluation of the economic impact of the events industry to the U.S. economy – the Events Industry Council’s Economic Significance Study of Meetings to the U.S. Economy.

This study was fielded in partnership with Tourism Economics, as well as our members and partners, to examine the economic contributions made by the events industry throughout the United States, based on data from the 2016 calendar year. The importance here is that this study takes a deep dive into the considerable impact this industry continues to make on the U.S. economy in terms of  spending, jobs, and taxes; these are among the many economic factors that are impacted by this great industry of events professionals.

To that fact, we know that the events industry has a considerable impact outside the United States, and it is our goal to widen this scope to include a global impact report in the near future.

I think it is extremely valuable for our industry as a whole to be able to understand and articulate the economic value of face-to-face events, as the data supports, but also that the growth in these factors demonstrates that businesses and individuals still value coming together to make personal connections, advance positive business outcomes, and build communities. The numbers prove that it’s an exciting time to be a part of the events industry! Our research will show that there was nearly a 20 percent increase in direct spending by the events industry since 2012. We also found that the number of meetings has grown to 1.9 million reported meetings, a 5 percent increase from 2012 (1.8 million), and a ten percent (10%) increase in meetings participants since 2012.
 
These statistics and more will be available in the final report, which is expected to be released in February.

For more information on these exciting results, read our press release here. 
Stay tuned for additional updates!

Karen Kotowski Signature
Karen Kotowski, CMP, CAE
CEO
Events Industry Council