Alexandria, VA – Conventions and trade shows accounted for nearly half of the $263 billion in direct spending on business meetings in the U.S. during 2009, according to a new study from the Convention Industry Council (CIC).
The 90-page report, The Economic Significance of Meetings to the U.S. Economy, portrays a bustling industry that directly generated 1.7 million jobs, plus billions in tax revenues and a $907 billion ripple throughout the entire economy during what was a down year.
The survey concluded that the trade show sector alone generated more than $33.7 billion in direct spending, or 13% of the total $263 billion. The convention/conference/congress sector accounted for $72.9 billion in direct spending, or 28% of the total. Half of the spending, some $132.1 billion, came from the corporate/business meetings sector.
The study also concluded that trade shows accounted for 22.5 million hotel room nights in 2009, or about 9% of the total for all business meetings.
The CIC held a webinar elaborating on the findings of the report. Trade Show Executive will provide further insight from the study in its next issue.
Reach CIC CEO Karen Kotowski at (571) 527-3116 or email@example.com