To be launched on Global Meetings Industry Day (May 5), the study by The Events Industry Council (EIC) will be the first of its kind in three years.
The Global Economic Significance of Business Events Study is being compiled with the assistance of research partner Oxford Economics.
First published in 2017, EIC’s Economic Significance Study evaluates the full scope and economic impact of the $1.6 trillion USD global business events industry. Regularly quoted in industry and mainstream media and leveraged by a wide swath of industry stakeholders — including corporation, nonprofit industry organisations, advocacy professionals, investors, developers, destinations, and academia worldwide — the 2023 report – the last complete study undertaken – has been accessed by more than 10,000 users across 40 countries and has garnered an estimated earned-media reach of more than 10 billion.
EIC President and CEO, Amy Calvert, said the study provides the foundation for the sector’s advocacy efforts “and Global Meetings Industry Day (GMID) is an essential platform for amplifying the breadth and impact of our sector and those efforts.”
“GMID also empowers communities to create authentic, local celebrations of the industry’s value to inspire and champion our workforce,” she said.
“We are committed to uniting voices from every region and sector to ensure the contributions of business events are recognised by policymakers and stakeholders. GMID will also serve as a key driver of our strategy to build and champion the global workforce, reinforcing our ongoing advocacy to highlight the indispensable role business events play in driving economic, social, and environmental progress.”
EIC Board Chair and CEO of the International Congress and Convention Association (ICCA), Dr Senthil Gopinath, said ICCA recognises the importance of this research and continued global collaboration.
“Assuming stewardship of GMID reflects EIC’s mission to be the global champion of our industry. We will build on the extraordinary foundation laid by US Travel and work with our members and partners around the world, ensuring that GMID continues to grow in reach and influence as we highlight the powerful legacy impact of events worldwide.”
A complete report of the new study when it is released will appear on the Event Organisers website.