The Conference Value & Volume Study, which was funded by the Northwest Regional Development Agency (NWDA), commissioned by Visit Manchester and carried out by Team Tourism Consulting, was based on a survey of conference venues in Greater Manchester.
It found that corporate business events account for 55% of the industry, followed by government/public sector events (32%), national association conferences (11%) and international association conferences (2%).
The £573m figure represents the income to businesses in Greater Manchester from the 4.2m delegates that came to the city and the 56,900 business events they were attending.
Value of industry
Visit Manchester managing director Paul Simpson said: "The study shows just how big a contribution the city’s conference and business tourism sector makes to the local economy.
"As the organisation responsible for attracting conference and business events to the city, it is important for us to know the value of the industry so that we can benchmark the city against other conference hubs and monitor the impact of business tourism marketing activity."
The Museums Association’s picked Manchester Central for its annual three-day conference this month for more than 1,400 delegates.
The Conservative Party is set to hold its 2011 conference at Manchester Central, while the Labour Party ran this year’s conference in the city.
Last year, The Royal Aeronautical Society chose the city to host the 2009 Council of European Aerospace Societies (CEAS) Air and Space Conference.
NWDA director of tourism Nick Brooks-Sykes added: "The contribution of business and conference events to the regional visitor economy cannot be underestimated."