Overall event planning companies have a dramatic impact on our economy. While we like to think of event planning as its own industry, or part of the overall hospitality and tourism industry, the fact is that event planning companies work with all industry sectors. For example, political organizations are one of the largest industry sectors that hire event planners.
Without event planners, the meetings and events industry not be what it is today. An event planner, like an orchestra’s conductor, ensures that the multitude of suppliers are simultaneously doing their part towards achieving the one common goal: to execute a successful meeting.
And Just How Much of an Impact Do These Event Planning Companies Have?
Event planning employs a lot of people. Almost everyone knows somebody, to some degree of separation, that is in the meetings and events industry. Top event planning companies have a variety of positions ranging from; event planners, event coordinators and procurement individuals. It is very much a team-based industry.
- Types of Event Planning Jobs-Part 1; the Planning Side
- Types of Event Planning Jobs-Part 2; Operations
Event Planning Companies Impact on the Economy
The next time you’re at a networking event, here are some industry statistics that you can toss around to impress your colleagues:
- There are over 183 million meetings and conventions each year in the US alone.
- Those 183 million meetings were attended by more than 225 million participants.
- Each year roughly $280 billion is generated in direct spending from meetings and conventions .
- Meetings and conventions contribute $64 billion in federal taxes and $46 billion in state and local taxes.
- The meetings and convention industry contributes more than $115 billion to GDP.
- The meeting and convention industries contribute more to the GDP than; air transportation, motion picture, music recording, performing arts and spectator sport industries.
- The top three sectors within the meetings and events industry are; accommodation, food and beverage, and air transportation.
- The meetings and events industry encompasses 6.3 million jobs in the US.