Report: Global Events Industry Gives World a Trillion-Dollar Boost
In 2018, face-to-face business events generated just over $1 trillion
When it comes to the economic impact of the global meetings industry, one word stands out: trillion. With a T.
According to the 2018 Global Economic Significance of Business Events report, which was conducted by Oxford Economics at the behest of the Events Industry Council (EIC), face-to-face business events generated just over $1 trillion in direct spending. In addition, they contributed a total gross domestic product impact of $1.5 trillion, along with $2.5 trillion in sales, nearly 26 million jobs, and an economic impact said to outpace that of even consumer electronics.
Cathy Breden, CMP, CAE, the chair of EIC’s Research Committee, emphasized in a statement that the report finally underlined the industry’s sheer scale.
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