Face-to-face meetings and events play a major role in boosting the U.S. economy, officials from the Meetings Mean Business Coalition (MMBC) told International Meetings Review on a recent media call. Adam Sacks, founder and president of Tourism Economics, an Oxford Economics company, and Susan Robertson, executive vice president of the American Society of Association Executives and chair of the Events Industry Council, discussed the MMBC’s latest research on the economic impact of meetings and events.
According to the new report, the meetings industry generated $325 billion in direct spending in 2016, and $845 billion in business sales. That represents a contribution of $446 billion in GDP and $104 billion in federal, state and local taxes. Breaking it down by household, it represented $879 in offset taxes per U.S. household.
Read more at International Meetings Review.