Telling Our Story: Economic Impact Data and the Attack on Meetings Presented by Mitchell Beer, CMM President and CEO The Conference Publishers Inc.

Brought to you by MPI Foundation Sponsored by Freeman AV

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Economic Data and the Attack on Meetings Why measuring economic impact matters Canadian study results Putting the data to work What’s on the horizon

Why Measuring Economic Impact Matters Credibility with our communities Political clout Point of comparison with other industries and sectors The home run: Get national statistical agencies to take over the measurement Use data to defend our industry when we need to

The Canadian Economic Impact Study Funded and managed by MPI Foundation Canada Signature project for the new foundation Rigorous, 22-month process Built on new methodology from the U.N. World Tourism Organization A world first

One piece of jargon: A meetings extension to the Tourism Satellite Account “What about the butcher?” The Canadian Economic Impact Study

What is a meeting? At least 10 people At least four hours Booked venue Purpose related primarily to business UNWTO The Canadian Economic Impact Study

>70 million participants 671,000 meetings 1.8% were incentives C$32.2 billion in direct spending C$71 billion in economic effects 235,500 full-year jobs The Canadian Economic Impact Study

Beyond direct spending, economic effects included: C$5.7 billion in taxes to all orders of government C$14.6 billion in tax effects: income, sales, and corporate tax, social security, etc. The Canadian Economic Impact Study

Comparing industries (% of GDP) Tourism1.86% Motor Vehicle Manufacturing (pre-crash)0.75% Forestry and logging0.68% The Canadian Economic Impact Study

Comparing industries (% of GDP) The Canadian Economic Impact Study Tourism1.86% Motor Vehicle Manufacturing (pre-crash)0.75% Forestry and logging0.68% Meetings0.78% C$11.28 B

Comparing industries (% of GDP) Which of these industries receives the least attention, support, respect? The Canadian Economic Impact Study Tourism1.86% Motor Vehicle Manufacturing (pre-crash)0.75% Forestry and logging0.68% Meetings0.78% C$11.28 B

Putting the Data to Work AIG, Wells Fargo, others go ahead with scheduled incentives Meetings come under attack Coalition forms Sen. Kerry tables Senate bill

“Any recipient of TARP funds shall not be allowed to host, sponsor, pay for conferences and events and pay for holiday or entertainment events for the year in which they receive TARP funds.” Putting the Data to Work

The claim: A million jobs at stake Putting the Data to Work

The claim: A million jobs at stake The data (for 10x the population) 2.5 million jobs Incentives represent 1.8% of all meetings (±) CAUTION: Details may be lost in translation Putting the Data to Work

The claim: A million jobs at stake The data (for 10x the population) 2.5 million jobs Incentives represent 1.8% of all meetings (±) Informal contact and a blog/news aggregator site carried the message first “Sen. Kerry needs a scalpel, not a hatchet.” We’re still learning to tell this part of our story Putting the Data to Work

How would you use the data? 1.Support local destination funding 2.Argue for new or expanded convention facilities 3.Educate federal/state/provincial legislators 4.Activate your local MPI chapter 5.Educate media 6.Write your own articles/blog posts 7. Build support in the wider business community 8.Other?? Putting the Data to Work

UNWTO case studies Interest on three continents U.S. economic significance study Possibility of drilling down On the Horizon

A necessary cornerstone, but still just the end of the beginning For meetings, what matters more: What we consume, or what we deliver? ROI…and more On the Horizon

The report Huffington Post coverage Summary of this webinar Resources

Economic Data and the Attack on Meetings Why measuring economic impact matters Canadian study results Putting the data to work What’s on the horizon

Thank you! Presented by Mitchell Beer, CMM President and CEO The Conference Publishers Inc

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