Global Meetings Industry Day Toolkit
Global Meetings Industry Day • April 7, 2022
Discover Lehigh Valley joins organizations across the globe to support the annual Global Meetings Industry Day (GMID) April 7, 2022. GMID, led by the industry advocacy coalition Meetings Mean Business (MMB) and the U.S. Travel Association, showcases the proven value that business meetings, conferences, conventions, incentive travel, trade shows and exhibitions bring to businesses and the economy. According to the Global Business Travel Association, more than half of business travelers miss traveling and hope to more often in the future.
This year’s GMID is particularly important as the declines from the pandemic have underscored the urgency of restoring the meetings and events sector. According to Tourism Economics, the U.S. saw a decline of $370 billion in business travel spending in the U.S. in 2020 and 2021—$180 billion of which was due to the decline in meetings, conventions and trade shows. Despite making up 20% of total trip volume, business travelers accounted for 40-60% of lodging and air revenue pre-pandemic.
Learn more about Global Meetings Industry Day.
Fast Facts: Meetings Mean Business
- Business travel has a disproportionate impact to our businesses. Despite making up 20% of pre-pandemic trip volume, business travelers account for 40-60% of lodging and air revenue in the U.S. (New York Times)
- The U.S. saw a decline of $211 billion in business travel spending in the U.S.—$97 billion of which was due to the decline in meetings, conventions and trade shows (Tourism Economics)
- Domestic leisure travel is nearly recovered to 2019 levels, but business travel remained at less than half of 2019 levels in 2021
- A return to a thriving travel industry—and American economy—is dependent on the return of business travel, meetings, events and conventions
- The steep decline in business travel led to the loss of more than 1.4 million direct travel jobs and wiped out $29 billion in travel generated taxes in the U.S. (Tourism Economics)
- In-person meetings provide significant benefits to attendees—including deeper connections to business contacts, education and training opportunities, access to key information through informal conversations, and improved company morale and job fulfillment
- According to business travelers, in-person meetings are twice as likely to convert prospects to customers than virtual meetings (Tourism Economics)
- More than half of business travelers miss traveling and hope to travel more often in the future and just one in 10 are unwilling to travel (GBTA)
- More than four in five decision makers believe business travel leads to increased profit and revenue (American Express)
About Meetings Mean Business
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 60 members, the coalition unites the meetings industry with one strong and powerful voice. For more information, visit www.MeetingsMeanBusiness.com.