We talk a lot about the power of face-to-face meetings and the impact of our industry. Well, now we have a number to back it up.

Try US$1 trillion plus change.

That’s right, one plus 12 zeros as in $1,000,000,000,000.

That big ol’ number, $1.03 trillion, was the worldwide direct spend of the meeting and event industry in 2017, according to the Global Economic Significance of Business Events, a report commissioned by the Events Industry Council (EIC) and supported by industry partners including the MPI Foundation.

Karen Kotowski, CEO of the EIC, said the report, which was released at last month’s IMEX America in Las Vegas, “offers a compelling snapshot of the broad reach, scope and strength of our industry. The findings will help us tell a more complete story of how and why business events serve as a major economic generator.”

To put the number in perspective, that $1.03 trillion direct spend matches the consumer electronics sector in size.

Ray Bloom, chair of the IMEX Group, said the figure puts the economic contribution of the meeting industry in “clear perspective and places it among the world’s leading business markets.” He also noted that the number is probably higher.

If anyone should know, it would be Bloom, whose eighth IMEX America concluded with a slew of new records for attendance (about 13,000), registered hosted buyers (3,300), number of appointments (more than 70,000) and the overall size of the show, which expanded to an additional hall at the Sands Expo and Convention Center to accommodate 3,500 exhibitors representing 150 countries, including 60 new booths and 81 expanded booths.

The show, which provided a $19 million economic impact for Las Vegas, was filled with big industry news throughout.

MPI, the International Association of Exhibitions and Events (IAEE) and the Society for Incentive Travel Excellence (SITE) announced that they are combining forces to provide training and resources to help develop professionals involved in the industry segment known as Meetings, Incentives, Conventions and Exhibitions, or MICE, in three growing regions of the world.

The Global MICE Collaborative will provide professional resources on exhibitions, meeting and event planning and incentive travel to foster the development of the MICE profession and MICE professionals in Africa, Asia and Latin America.

The collaborative will initially be marketed to destination marketing organizations and individuals outside the U.S. and Canada as a “go-to” resource for MICE. It is designed to accelerate MICE workforce development and destination awareness through competency-building, live events, research, consulting and access to a vibrant community of experienced professionals.

There was more news from MPI during IMEX America: The organization announced Kevin Kirby as the new executive director of the MPI Foundation.

Paul Van Deventer, president and CEO of MPI, also announced that MPI’s signature event, the World Education Congress, will go to Grapevine, Texas, in 2020, Las Vegas in 2021 and San Francisco in 2022. Next year we’re in Toronto.

MPI delivered 72 education sessions on Smart Monday, Powered by MPI, plus four keynotes during IMEX America. About 825 unique attendees participated in Smart Monday education sessions, while about 1,200 attended keynote presentations by Julius Solaris, Kelly McDonald, Paul Smith and a C2-inspired session, “Emotions and Technology: An Exploration of Audience Connection.”

MPI also offered 15 booth education sessions over three days, drawing about 500 attendees.

Nearly $400,000 was raised for the MPI Foundation through its Red White and You wine action and the networking celebration Rendezvous, the IMEX America Night, which was attended by nearly 2,500 people.

Ray Bloom is right—$1.03 trillion is just the beginning.

Until next time…

Rich Luna
Editor in Chief
rluna@mpiweb.org

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