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IAEE Joins Organizations in Updating Industry-wide Economic Study
2/13/2014
IAEE joins 13 fellow members of the Convention Industry Council in releasing data on the Economic Significance of Meetings to the US Economy. An update to a 2009 study, new figures show significant increases in meeting participants, direct spending, tax contribution and job growth from 2009 to 2012.

The Economic Significance Study found that total output in 2012 related to meetings activity is estimated at $770.4 billion, while the total contribution to GDP was $393.8 billion. Meetings activity in 2012 supported approximately 5.3 million jobs and generated $234.6 billion in total labor income.

IAEE President and CEO David DuBois, CMP, CAE, FASAE, CTA, said, "Through the collaboration with our friends and partners at these industry organizations, we have had an opportunity to take a deeper dive into the value of meetings, events and exhibitions to understand the change in the industry since the original study in 2009, where we are now, and the outlook for the future. There is no doubt that collectively we are a major economic driver and help foster long-term growth."

During the 2012 calendar year, 1.83 million meetings were held in the U.S., attended by 225 million participants, providing more than $115 billion to fuel the economy. Meetings contribution to GDP surpasses that of the air transportation, motion picture, sound recording, performing arts and spectator sport industries.

"The data proves organizations continue to value and place a priority on face-to-face meetings, even during a recovering economy," said Karen Kotowski, CMP, CAE, chief executive of the Convention Industry Council. "Not only were more meetings held--they were attended by more people. We saw a 10% jump in the number of meetings participants from 2009 to 2012."

Meetings also made a local impact and supported cash-strapped local communities with tax revenue, generating $38 billion dollars in state and local taxes.

An executive summary of the research is available at www.economicsignificancestudy.org.


About IAEE
Trusted since 1928, IAEE provides quality and value to its members through leadership, service, education and strong relationships. IAEE is the largest association of the exhibitions and events industry in the world, with a membership of show organizers, exhibitors and exhibition suppliers. Organizers of more than 20,000 exhibitions and buyer-seller events around the world are members of IAEE, and the organization advocates and promotes the awareness of face-to-face exhibitions and events as the primary medium for business development and growth. IAEE provides relevant, timely and innovative education to its members and the industry IAEE recognizes its strategic partners: American Airlines, Anaheim Orange County Visitor & Convention Bureau, BearCom, Mexico Tourism Board, New Orleans Morial Convention Center, New Orleans Convention & Visitors Bureau, Orange County Convention Center, San Antonio Convention & Visitors Bureau, Visit Baltimore, Visit Orlando and VoiceLogic. Visit www.iaee.com for more information.

About the Study
The Economic Significance of Meetings to the U.S. Economy conducted by PwC US was spearheaded by an alliance of organizations representing the collective meetings, travel, exhibitions and events industries in the U.S. brought together via the Convention Industry Council Primary funding organizations include American Hotel & Lodging Association, ASAE, Convention Industry Council, Destination Marketing Association International/Destination & Travel Foundation, Meeting Professionals International Foundation, Professional Convention Management Association/Education Foundation and U.S. Travel Association. Other allied industry partners include Center for Exhibition Industry Research, Convention Sales Professionals International, Event Service Professionals Association, Financial and Insurance Conference Planners, International Association of Exhibitions and Events, International Special Events Society and National Speakers Association.

About CIC
The Convention Industry Council's 33 member organizations represent over 103,500 individuals and 19,500 firms and properties involved in the meetings, conventions, and exhibitions industry. The mission of the Convention Industry Council is to provide a forum for member organizations to exchange information on global trends and topics, promulgate excellence in best practices and guidelines, collaborate on industry issues and advocate the value of the meetings, conventions, exhibitions and events industry. For more information, go to www.conventionindustry.org.


Contact:
sbrower@iaee.com


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