One of the bedrock economic indicators for the convention industry over the years has been average delegate/exhibitor expenditures—data compiled by the International Association of Convention & Visitor Bureaus in its Convention Income Survey Report, last released in 1998. Last week, IACVB released a revamped, expanded report called ExPact, short for expenditure impact.
The study is based on surveys of 86 participating bureaus, 12,920 delegates, 1,286 exhibiting companies, and 77 event organizers. Among the key findings:
A new product resulting from the study will be an online calculator tool for estimating the direct spending projections for any type of event, says IACVB president/CEO Michael Gehrisch. He adds that ExPact data will be shared with the Convention Industry Council to help with CIC’s economic impact study, currently underway. —Regina McGee