New Canadian Economic Impact Study on meeting industry
Last year, Meeting Professionals International Foundation (MPIF) released findings of the first research study ever conducted on the economic impact of meetings in Canada. The study, funded by the MPI Foundation and conducted by Maritz Research Canada and the Conference Board of Canada, provides data on industry revenues and delegate spending in the Canadian meetings and events sector, and on the direct and indirect benefits that the sector contributes to the Canadian economy. This is the first study to utilize the United Nations World Tourism Organization's (UNWTO) measurement model, which permits quick and accurate comparisons of meetings industry performance against other industries and the economy as a whole. Coherent definition of the "meetings sector" will lead to greater recognition of meetings and events as an economic driver. On November 9, 2009 MPIF released an Update to the baseline study and once again validates the importance of meetings in Canada.
The newly released Canadian Economic Impact Study Update, finds that meetings and events generated more than CAD$14 billion in tax revenue and supported more than 550,000 jobs in 2008. The study builds on the 2006 research and provides an ongoing examination of how the industry shapes the nation's economy and workforce.
The message of the report was clear: Meetings and events are a vital force in the Canadian economy. For all the facts about the value of meetings and events in Canada, you can access an executive summary of this report by clicking here