Meetings & conventions are valuable to the US and world economy. Our industry has always been difficult to quantify, because sometimes we’re considered part travel and leisure, part hospitality, part tourism.
So to prove our collective worth, in 2009 the Convention Industry Council undertook a study entitled “The Economic Significance of Meetings to the US Economy.” The study found that the total direct spending associated with US meeting activity is estimated at $263 billion!
And that’s only the direct spending: out total contribution to the GDP was estimated at $458 billion, including 6.3 million jobs. Other nifty facts:
- 205 million attendees participate in 1.8 million US meetings each year
- We pay our taxes, including $64 billion in federal tax revenue and an additional $46 billion in state and local tax revenue
- The 1.8 million meetings generate 250 million hotel room nights per year.