Every business needs to make smart decisions with its resources. Hosting a client event, sending a team to a conference, providing employees with incentive travel, and investing in a trade show are significant investments – but what’s the return? Here’s a hint: it’s far more than you think.
An Oxford Economics report found that every dollar invested in business travel realizes $9.50 in new revenue and produces $2.90 in profits.
A study by Rockport Analytics reaffirmed that government travel for meetings leads to greater productivity and efficiency and found that cancelling government participation in meetings and conferences can actually cost taxpayers more in the end.
Business travelers in a 2012 study estimated that one hour of face-to-face contact equaled 5 video conferences, 10 phone calls, or 20 emails.
Meetings Mean Business is an industry-wide coalition to showcase the undeniable value that business meetings, trade shows, incentive travel, exhibitions, conferences and conventions bring to people, businesses and communities. By rallying industry advocates, working with stakeholders, conducting original research, engaging with outside voices and more, the coalition brings the industry together to emphasize its importance. Comprised of over 50 members, the coalition unites the meetings industry with one strong and powerful voice.