The Economic Significance of Meetings to the U.S. Economy study released in February 2011 revealed that 1.8 million meetings, trade shows, conventions, incentive events and other meetings take place across the country each year, directly supporting 1.7 million jobs, a $106 billion contribution to the GDP, $263 billion in direct spending, $60 billion in labor revenue, $14.3 billion in federal tax revenue and $11.3 billion in state and local tax revenue.
"The economical benefits of events and meetings ripple through local communities," said Michael D. Gehrisch, president and CEO of Destination Marketing Association International. "The study results drive home the importance of actively soliciting meetings and events, which is one of the primary roles of official destination marketing organizations or DMOs."
DMAI is a founding partner and sponsor of the study conducted by PwC US.
"As the nation grapples with effective ways to work its way out of a recession, the meetings industry plays a critical role in supporting jobs in communities across America, creating environments that foster innovation, consensus and business success," said Karen Kotowski, executive director of the Convention Industry Council.
The 1.7 million jobs generated by the meetings industry is larger than many U.S. industries, including broadcasting and communications (1.3 million), truck and rail transportation industries (1.5 million) and computer and electronic product manufacturing (1.1 million). …