PWC´s The Economic Significance of Meetings to the US Economy report, which uses data collected in early- to mid-2010, valued meetings´ impact on the US economy at $US907bn, comparable to the country´s automotive industry.
Jakub M. Konysz, senior Manager of International Development at ASAE: The Center for Association Leadership, said that the metrics are the first credible way to measure meetings financial contribution to GDP, adding that they need to be rolled out worldwide.
"Countries including the UK, Switzerland and Denmark have shown an interest in the model. We think that it is an effective way for a country to provably demonstrate the contribution its meeting industry makes to the economy, which can then be compared to other countries," he added.
Speaking to C&IT after the seminar, which was entitled Economic Significance of Meetings on National Economies, Sally Greenhill, managing director of The Right Solution, said: "Financial data is very useful for promoting the meetings industry, but more needs to be done to promote the other benefits, such as education, that meetings bring to the UK."
She added that this was an issue that Britain For Events needs support in tackling.