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Effects of Meetings and Conventions – More than Incidental Profitability

Events, such as trade shows and conventions, do not only make a perfect platform for the exchange of knowledge, but bring economic benefits for the event location, as part of incidental profitability. The impact on science, innovation and research, and related consequences, is significantly higher, making the monetary value seem like the tip of the iceberg, with the entire spectrum still to be discovered.

Therefore, it does not come as a surprise that the JMIC – Joint Meeting Industry Council, the worldwide umbrella organization for the event industry – will publish a research study on the effects of meetings and events under the title “The Iceberg”. The University of Sydney was commissioned with this study, conducting comprehensive research on large and important events and their entire history, to find out which scientific developments, innovations, and Nobel prizes resulted from those events, which joint ventures were created, business generated, and much more.

EVVC President Joachim Koenig, who currently holds the JMIC presidency as well, said: “The research study on the effect of meetings and events beyond the business point of view is groundbreaking. Indeed, the monetary value is the tip of the iceberg only, compared to the entire impact events have as part of incidental profitability. If we could generate sound data, based on this study, it would benefit all our members in working with their individual communities. Therefore, it is very important that we will support this research study with a model event in Germany, Austria, or Switzerland”.