Economic study

Industry Council launches data collection phase of economic study

the Events Industry Council (EIC) has launched the data collection phase of its ‘Economic Materiality Study’, in collaboration with Oxford Economics. As part of the study, the EIC also released its latest Global Trade Events Barometer, 2021 Q4.

The “Global Economic Significance of Business Events” survey, from April 7 to June 25, aims to quantify the contribution of the business events sector to the global economy. Survey respondents will receive a CE for their application or recertification requirements as a Certified Meeting Professional (CMP) or CMP Healthcare Subspecialty (CMP-HC).

The “Economically Significant Study” includes four news streams to examine the economic impact of the global events industry and quantify the cumulative losses incurred in 2020 due to the Covid-19 pandemic.

By analyzing this data, the EIC aims to establish the full value of meetings and leads, including the strategies employed by the meetings and events industry to accelerate its recovery.

The barometer, which monitors changes within the market from pre-pandemic (2019) levels, points to continued positive growth in each of the seven global regions, with gains in Q4 2021 across both demand businesses proposals (up 14% compared to the third quarter of 2021). ) and overnight stays in hotel groups (+15% compared to Q3 2021).

Amy Calvert, CEO of EIC, said: “This survey is a vital part of our economic significance study and I urge event professionals to take a few moments of their time to complete it so that we can ensure that our data is as complete as possible. We know that business events are a major contributor to the global economy and by determining the full value of meetings in 2021, as well as the outlook for 2022, we are able to actively provide a clear and credible statistical basis on which to have our industry recognized as a vital economic engine.

To participate, click here. The survey will end on June 25, 2022.