WTO seeks valuation of meetings market

Recommendations for measuring the economic value of the global meetings were unveiled in a report by the Sustainable Tourism Cooperative Research Centre at an EIBTM seminar. The report, commissioned by the World Tourism Organization (WTO), ICCA, MPI and Reed Travel Exhibitions, revealed that common definitions for the meetings industry are necessary for consistent measurement. It recommended that an event only be called a "meeting" when it has a minimum of ten participants in a venue for a minimum of half a day. It also highlighted the obstacles in obtaining a reliable global measurement, because of the inconsistencies between countries in the type, frequency and methodology of collecting data. According to the Centre’s director of research, Professor Leo Jago, in order to iron out the gaps and inconsistencies it is important that the industry fully supports the concept of data collection. "In Australia, everybody wanted the data, but nobody was prepared to help collect it," he said. "We are looking to automate collection, but that will take time, and until then everybody needs to contribute."

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