| Economic Impact the Meetings Activity in Mexico
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 The Federal Ministry of Tourism, through the CESTUR (Center for Higher Studies in Tourism) recently published the Economic Impact the Meetings Activity in Mexico research study. The purposes of this study include:
- Establish a point of reference for measuring the economic revenue generated from Congresses, Conventions, Incentive Groups and Trade Shows
- Estimate the market size by event type, origin and spending
- Generate a model to estimate the direct economic insertion of revenue generated by the meetings held in Mexico
The contribution to the gross domestic product ascends to 12.0 billion dollars which represents 1.43% of the national GDP. Indirectly it contributes another 13 billion dollars; however, contribution to GDP must only consider direct effects. Mexico meetings generate 441,300 direct jobs and 342,400 indirect jobs, which adds up to 783,700 total jobs. Also, it generates 4.6 billion dollars in employment income (2.7 billion directly and 1.9 indirectly). Of the 24.3 million overnight meetings in Mexico, 6% were from motivational events and incentive travel.
This study marks the third county in the world to complete such an endeavor to analyze the economic impact on the meetings industry. Similar studies were performed by Canada in 2008 and the United States in 2010. The same methodology used in these two countries was employed in Mexico using the definitions and concepts defined by the World Tourism Organization.
According to the world congresses ranking by ICCA (International Congress and Convention Association), Mexico improved its global position by moving up from 27th place in 2009 to take the 22nd place in 2010. Mexico City is in the 43rd position, rising from its position in 62nd place held in 2007. Other Mexican cities that appear in the international rankings are Cancun, Guadalajara, Acapulco, Monterrey and Puebla. Click here to read more and visit cestur.sectur.gob.mx for additional information.
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| Economic Significance Study
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Site was part of an alliance of 14 organizations representing the collective meetings, travel, exhibitions and events industries in the U.S. who supported the funding and research process for the recently release report: The Economic Significance of Meetings to the U.S. Economy. This report revealed that the U.S. meetings industry directly supports 1.7 million jobs, a $106 billion contribution to GDP, $263 billion in spending, $60 billion in labor revenue, $14.3 billion in federal tax revenue and $11.3 billion in state and local tax revenue. 
The study, conducted by PwC US, assisted by a team of industry researchers, spanned more than a year in research and analysis and is the first‐ever study of the size and scope of its kind. The research quantifies the economic contributions made by the 1.8 million meetings, trade shows, conventions, congresses, incentive events and other meetings that take place across the ountry. Details on the study and the 14 leading membership organizations which formed the research alliance can be found at www.MeetingsMeanBusiness.com.
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Note: For the purposes of this survey, incentive events refer to the meeting portion of an incentive program.
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The research quantifies the economic contributions made by the 1.8 million meetings, trade shows, conventions, congresses, incentive events and other meetings that take place across the US. So what did we learn?
- Of the 1.8 million U.S. meetings, 1.3 million are classified as corporate or business meetings, 270,000 are conventions, conferences or congresses, 11,000 are trade shows and 66,000 are incentive meetings.
- Incentives represented 4% over the overall events examined accounting for 25 million participants and 13 million room nights occupied in the U.S. alone.
- The vast majority of total meetings (85 percent) were conducted at venues with lodging. Meetings generate 250 million overnight stays by 117 million Americans and 5 million international attendees.
- The U.S. meetings industry directly supports 1.7 million jobs, a $106 billion contribution to GDP, $263 billion in spending, $60 billion in labor revenue, $14.3 billion in federal tax revenue and $11.3 billion in state and local tax revenue.
- The $263 billion in spending generated $14.3 billion in federal tax revenue and $11.3 billion in state and local tax revenue. And meetings’ $106 billion contribution to the U.S. GDP is greater than, for example, auto manufacturing ($78 billion), performing arts/spectator sports/museums ($71 billion) and information and data processing services ($76 billion).
- The 1.7 million jobs generated by the meetings industry is larger than many U.S. industries, including broadcasting and communications (1.3 million), truck and rail transportation industries (1.5 million) and computer and electronic product manufacturing (1.1 million).
- The industry’s 1.7 million jobs generate $60 billion in labor income and support another 4.6 million U.S. workers, including industry suppliers and those who rely on meeting output for sales and revenue.
- Spending on goods and services resulting from meetings and events in the U.S. totals $263 billion. The majority of direct spending, $151 billion, is related to meeting planning and production, venue rental and other non-travel and tourism related commodities; $113 billion is spent each year on lodging, food service, transportation and other travel and tourism commodities.
- A total of 205 million people, representing domestic and international delegates, exhibitors and organizers attend the 1.8 million meetings. The meetings serve as vehicles for job training and education, generating sales revenue, linking domestic and foreign buyers and developing lasting relationships in personal environments that build trust and unity.
- Including direct, indirect and induced contributions, meetings activity provides $907 billion in total economic output to the U.S. economy. Total economic output also includes a $458 billion value-added contribution to GDP, 6.3 million full-time and part-time jobs, $271 billion in labor income including wages and salaries, benefits and proprietors’ income, $64 billion in federal tax revenue and $46 billion in state and local tax revenue.
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Final Language in the Treasury Assisted Relief Program (TARP)
20 ‘‘(d) LIMITATION ON LUXURY EXPENDITURES.—The board of directors of any TARP recipient shall have in place a company-wide policy regarding excessive or luxury expenditures, as identified by the Secretary, which may include excessive expenditures on (1) entertainment or events; (2) office and facility renovations; (3) aviation or other transportation services; or(4) other activities or events that are not reasonable expenditures for staff development, reasonable performance incentives, or other similar measures conducted in the normal course of the business operations of the TARP recipient.
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