CEO DATELINE - Report: Exhibitions, events contributed billions to U.S. economy
CEO DATELINE - Report: Exhibitions, events contributed billions to U.S. economy
- June 3, 2019 |
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Walt Williams
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Business-to-business exhibitions and events contributed $97 billion to the U.S. GDP in 2018, according to a new analysis conducted for the Center for Exhibition Industry Research.
The analysis by Allen Shaw of Global Economic Consulting Associates used a formula to calculate both the direct and indirect economic impact of the exhibition industry, CEIR said in a statement. The data came in part from the U.S. Bureau of Economic Analysis' latest benchmark input/output table for 405 industry groups.
Shaw used the same analysis to calculate the total impact on GDP was $93 billion in 2017, indicating the industry is growing.
"I am very pleased to learn that the U.S. exhibitions industry continued its growth in 2018. The $97 billion represents an increase of 4.3 percent over 2017," Robert McLean, chairperson of CEIR's board of directors, said in a statement. "This growth is an indicator of the power of face-to-face meetings as an important sales and marketing tool."
CEIR released the report ahead of its annual conference, Predict, which will be held in September in Las Vegas.
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