PCMA CEO Sherrif Karamat is guiding the meetings and events industry toward a future where conventions are better leveraged as platforms for long-term economic development and inclusive social progress.
— Greg Oates
There is much more intentional focus in the meetings and events industry these days on the long-term economic and social impacts of conventions.
In the past, cities have always reported the short-term economic impact of business events in terms of delegate spend and jobs/taxes generated. However, there are many more intangible benefits derived from conventions, such as the development of new business relationships, new academic and scientific research, and new corporate investments in the host destination, to name a few.
Those benefits are more difficult to measure, but their value when calculated over years, decades, and beyond can often exceed the temporary attendee expenditure exponentially.