The American meetings and events industry directly and indirectly supports 6.3 million jobs and generates almost $1 trillion a year in direct, indirect and induced spending. The industry’s direct $106 billion contribution to the U.S. GDP is greater than the amount generated by auto manufacturing ($78 billion), performing arts/spectator sports/museums ($71 billion), and information and data processing services ($76 billion). If indirect and induced spending numbers are included, meeting and event production’s total annual contribution to the GDP is $458 billion.
‘Don’t defend the rate; defend the value of meeting’
If 2009 was “the perfect storm” that disrupted the meetings industry, then Danielle Babilino insists she was the poster child for everything that could have gone wrong. “I represent the five-diamond, five-star Wynn/Encore in Las Vegas, which opened in December 2008,” explained the senior vice president of hotel sales at the 2010 Meetings Exploration Conference […]
New Treasury rules for TARP recipients
The U.S. Treasury issued new regulation guidelines for companies that have received taxpayer assistance on June 10. After 90 days of public commenting and review, the rules will be finalized. Industry leaders do not predict the final regulations will differ much from those proposed by the Treasury Department, which call for companies receiving taxpayer assistance […]
Is it the money or the message that causes change?
Last month, I spoke to a group of incentive industry professionals about proving the value of meetings and events. At the end of the speech, one planner stood up and asked, “Do you think that we, as an industry, should pull our advertising dollars from the newspapers, radio and TV stations to punish them for […]
Over 21,000 people petition to ‘Keep America Meeting’
On May 13, the U.S. Travel Association delivered a Keep America Meeting petition to the Senate Commerce Committee while it was holding a Senate Hearing on Travel. The online petition was created in February in response to media censure and government scrutiny of the meeting, event and incentive industry. “Corporate meetings enhance employee and partner […]
Are you the face of travel?
A campaign is afoot to find an articulate spokesperson for the meeting, convention and business travel industry who can interact with the media and tell a compelling story about what meetings mean to people in the hospitality industry and local communities. The contest, organized by Meetings Mean Business, is open until April 24. If you’re […]
Meetings mean business
Scrutiny of financial companies receiving bailout money has been intense, and many — such as Wells Fargo and AIG — have been shamed into canceling meetings and events. But companies that have nothing to do with Troubled Assets Relief Program funds are canceling meetings, too. More than half of the meeting planners surveyed by Meetings […]
