The Impact of Global Business Events
Tradeshows create jobs, generate revenue and impact economies. Those of us fortunate to be in the industry can see this effect every time we walk on a show floor. But the industry’s influence stretches far beyond one show, one city or even one country. The worldwide impact of business events is truly amazing!
According to an Events Industry Council report released November 2018, based on Oxford Economics research and analysis of 2017 data that includes tradeshows, conventions, conferences and congresses; it does not include, social, recreational, or educational activities. In the report, the term “business events” includes B2B and B2C meetings in a contracted venue. Here’s their findings:
- 26 million jobs created worldwide in a single year.
- 1.5 billion participants in 180 countries.
- $2.5 Billion in total business sales.
- $1.5 trillion contribution to the Gross Domestic Product.
- Thirteenth largest economy, based on total GDP impact.
Larger than the economies of Australia, Spain, Mexico, Indonesia or Saudi Arabia.
Pause for a second, reread those stats again, and think about the size of the numbers. The power of tradeshows and business events is staggering.
Bob McGlincy is director, business management at Willwork Global Event Services. Willwork creates engaging, energized, and exceptional event experiences. He can be contacted at Bob.McGlincy@willwork.com