Meetings & Events News
Meetings Mean Business
The meeting industry plays a critical role in supporting jobs throughout the United States.
Did you know that its economic impact includes:
- Directly employing 1.7 million people
- Generating $60 billion in labor revenue
- Contributing $106 billion to the GDP ($25 billion more than the automotive industry)
- Collecting more than $25 billion in federal, state and local taxes
- Creating $500 billion in indirect spending (meals, shipping, audio visual, etc.)
In fact, the meeting industry employs twice as many people as the automotive industry. Unlike the automotive industry, the meetings industry received no federal bailout assistance, despite the devastation caused in 2009 by the AIG crisis.
Since the recession, the meeting industry has struggled to maintain its important economic contribution. In order to support its efforts, research was commissioned to show the monetary value of face-to-face meetings.
