The U.S. Travel Association recently updated their Power of Travel Promotion Report in an effort to help organizations make the case as to why travel matters and to encourage local governmental agencies and DMOs to continue to spend money to promote their destination.
David Heuther, Senior Vice President of Research for the US Travel Association stated, "The resulting increase in tourism to an area improves local quality of life, boosts economic development and delivers much needed tax revenues to fund essential services and revitalize communities."
How can meeting planners and suppliers use this information to market meetings?
You need to utilize the facts from this report because most of your large events are more than 100 miles from your attendees' homes. Without justification for travel, often times meeting participants are left at home — relegated to an occasional webinar available for educational purposes.
Meetings, just like leisure travelers, have a significant impact on the local economy. Look at it this way:
More meetings EQUAL more remote travelers which EQUAL more local jobs which EQUAL higher tax revenues.
Here are the three things you need to know about this report:
Meetings equal local economic vitality.
When you have an influx of individuals come into a hotel or city, your sponsors, speakers, exhibitors and attendees are going to spend money on some or all of the following:
- Transportation to/from airport and getting around town
- Hotel room
- Gifts for family and friends
Meeting planners are going to spend funding on:
- Meeting room space
- Renting audio visual equipment
- Food and Beverage
Meetings and travel equal a stronger tax base.
In 2012, travel generated $129 billion in tax revenue with 45% of that amount going directly to local and state governments. To put this figure into perspective, the $58 billion generated by local and state government, is enough money to pay the salaries of every police officer and firefighter in the country.
An example of how this unfolds is, by utilizing a local conference equipment rental organization, you will not only create jobs, improve the economic posture of the company and save on shipping but you will also increase the revenues to the local and state agencies due to tax on the equipment and payroll taxes generated from an increase in the number of employees and/or staff time.
Investment in your destination pays off.
According to the US Travel Association, there is a direct correlation between attracting business to your destination and the amount of dollars spent on promoting your city. In their report, they offer case studies from destinations that did and did not make the promotion investment and the net result from those decisions. They also state that any monies invested are superseded by the traveler's investment in the destination.
DMOs need to continue to promote their city and region to bring Top of Mind Awareness (TOMA) to the meeting planner. Without a vigilant plan to promote the destination, these cities will be just one of many and be far from the planner's mind.
Are you event planning in California? AV Event Solutions is a local audio visual and IT provider that would love to work with you on your next meeting, event or trade show. Give them a call at 888.249.4903 to get the process started!