In an effort to quantify the significant contribution made by the face-to-face business meetings and events sector to the global economy, the Events Industry Council (EIC) launched the data collection phase of its Economic Significance Study and revealed the results of its latest Global Business Events Barometer, showing positive signs for the industry’s recovery. 

Conducted by Oxford Economics, the survey portion of the study is open through June 25 and applies to business meetings and events, including conventions, conferences, trade shows, exhibitions and incentives. 

The ambitious Economic Significance Study comprises four insight streams to examine the global events industry’s economic impact and, for the first time, quantify the cumulative losses experienced in 2020 due to the COVID-19 pandemic. By analyzing this data and understanding it, the EIC can establish the full value of meetings and prospects for 2022 and beyond, including the tactics and strategies being employed by the industry to accelerate its recovery.

As the voice of the global events industry, EIC is committed to continuing to collect, curate and share accurate and relevant data on the condition of the industry, according to EIC CEO Amy Calvert.

“This survey is an essential component of our Economic Significance Study, and I urge event professionals to take a few moments of their time to complete it so that we can ensure our data is as comprehensive as possible,” she said. “We know that business events are a major contributor to the global economy, and by determining the full value of meetings in 2021 as well as prospects for 2022, we are able to actively provide a clear and credible statistical base on which to gain recognition for our industry as a vital economic driver.”

To take part in the survey, click here. (Respondents will receive 1 CE towards their CMP or CMP-HC application or recertification requirements. The credit will be posted within two weeks of completing the survey.)

As part of the Economic Significance Study, the EIC also unveiled its Global Business Events Barometer for the fourth quarter of 2021. The barometer, which monitors the changes within the market relative to pre-pandemic (2019) levels, points to continued positive growth across each of the seven global regions it tracks, with Q4 2021 gains in both RFP activity (up 14% from 2021 Q3) and hotel group room nights (up 15% from 2021 Q3). To download a copy of the Q4 2021 barometer, click here. 

The Economic Significance Study has been generously supported and sponsored by leading industry organizations, including AHLA, ASAE, Freeman, IACC, IAEE, Los Angeles Tourism & Convention Board, Maritz Global Events, Meetings Mean Business, MGM Resorts International, MPI, Northstar Meetings Group, NYC & Co., PCMA, RCMA, SISO and US Travel Association.

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