EIC Calls on Event Professionals for Economic Significance Survey; Releases Latest Business Events Barometer
May 5, 2022
In an effort to quantify the significant contribution made by the face-to-face business meetings and events sector to the global economy, the Events Industry Council (EIC) launched the data collection phase of its Economic Significance Study and revealed the results of its latest Global Business Events Barometer, showing positive signs for the industry’s recovery.
Conducted by Oxford Economics, the survey portion of the study is open through June 25 and applies to business meetings and events, including conventions, conferences, trade shows, exhibitions and incentives.
The ambitious Economic Significance Study comprises four insight streams to examine the global events industry’s economic impact and, for the first time, quantify the cumulative losses experienced in 2020 due to the COVID-19 pandemic. By analyzing this data and understanding it, the EIC can establish the full value of meetings and prospects for 2022 and beyond, including the tactics and strategies being employed by the industry to accelerate its recovery.
As the voice of the global events industry, EIC is committed to continuing to collect, curate and share accurate and relevant data on the condition of the industry, according to EIC CEO Amy Calvert.
“This survey is an essential component of our Economic Significance Study, and I urge event professionals to take a few moments of their time to complete it so that we can ensure our data is as comprehensive as possible,” she said. “We know that business events are a major contributor to the global economy, and by determining the full value of meetings in 2021 as well as prospects for 2022, we are able to actively provide a clear and credible statistical base on which to gain recognition for our industry as a vital economic driver.”
To take part in the survey, click here. (Respondents will receive 1 CE towards their CMP or CMP-HC application or recertification requirements. The credit will be posted within two weeks of completing the survey.)
As part of the Economic Significance Study, the EIC also unveiled its Global Business Events Barometer for the fourth quarter of 2021. The barometer, which monitors the changes within the market relative to pre-pandemic (2019) levels, points to continued positive growth across each of the seven global regions it tracks, with Q4 2021 gains in both RFP activity (up 14% from 2021 Q3) and hotel group room nights (up 15% from 2021 Q3). To download a copy of the Q4 2021 barometer, click here.
The Economic Significance Study has been generously supported and sponsored by leading industry organizations, including AHLA, ASAE, Freeman, IACC, IAEE, Los Angeles Tourism & Convention Board, Maritz Global Events, Meetings Mean Business, MGM Resorts International, MPI, Northstar Meetings Group, NYC & Co., PCMA, RCMA, SISO and US Travel Association.
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Partner Voices
Just when it seems like Las Vegas can’t get any bigger, brighter or more exciting for groups, MGM Resorts raises the bar again. The company continues to invest and innovate across its portfolio of Las Vegas resorts, with new attractions and upgraded experiences for attendees of all interests.
Remodeled Guest Rooms
MGM Grand is the largest single hotel in the world with over 5,000 guest rooms and an 850,000-square-foot conference center. It is home to the newly remodeled MGM Grand Studio Tower—700 reimagined guest rooms with a fun mid-century vibe. Nearby, the iconic New York-New York Las Vegas Hotel & Casino recently completed a $63M redesign and remodel of its 1,830 guest rooms and 155 suites.
Down the street, Bellagio Las Vegas is sporting renovated rooms in the Spa Tower with sunrise-inspired decor and luxurious soaking tubs in Premier King rooms after a $110-million transformation.
Reinvented Luxury Experiences
The Luxury Meetings District, made up of Bellagio Las Vegas, ARIA Resort & Casino, Vdara Hotel & Spa, The Cosmopolitan of Las Vegas, Park MGM and NoMad Las Vegas, is now more connected than ever before. A new interior walkway opened this October for a seamless attendee experience – connecting Vdara, Bellagio, and The Cosmopolitan of Las Vegas, guests can now walk from Park MGM to Bellagio in around 15 minutes.
New on the scene in the Luxury Meetings District is Cathedrale at ARIA, TAO Group’s upscale establishment specializing in exquisite French-Mediterranean cuisine offering elevated private dining experiences that opened in May.
Heralded by World’s Best 50 Restaurants, GQ and VOGUE, LPM at The Cosmopolitan of Las Vegas is opening this fall and will deliver its signature spontaneity and imaginative celebration of France’s Mediterranean cuisine, art, and culture to the unique luxury resort in impeccable fashion.
A “New Wave for Mandalay Bay
A new wave of enhancements and experiences has arrived at Mandalay Bay Resort and Casino, including Flanker Kitchen + Sports Bar, an 8,445-square-foot restaurant that opened this June, perfect for pre- and post-game eats and drinks. Event planner’s favorite, Chef Michael Mina’s StripSteak, received a full renovation and now includes one of the largest private dining rooms on The Strip. Retro by Voltaggio debuts a one-year residency with a fun take on pop culture of the 80s and 90s with classic American dishes. An exciting addition planned for 2024 is Swingers, a 40,000-square-foot oasis of street food, miniature golf and art at Mandalay Bay.
Most exciting for meeting planners, the 2.1 million-square-foot Mandalay Bay Convention Center is undergoing a complete refresh, with lightened space, added eye-catching art, and improved technology infrastructure for even more flexible space. Energy-efficient digital signage now leads the way with faster internet speeds and new AV options.
From renovated guest rooms and meeting spaces to celebrated dining options and dedicated teams, MGM Resorts is dedicated to delivering exceptional and innovative meeting experiences.
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