Meetings and events are vital for YOUR business
A MESSAGE FROM ROGER DOW, U.S. TRAVEL ASSOCIATION PRESIDENT & CEO
"During the past 11 months the U.S. Travel Association has engaged with other associations to mount an effective campaign to promote the value of business travel, with a particular focus on supporting meetings, events and incentive programs. While we can count numerous successes, including toning down politically motivated rhetoric and sensational media stories that had demonized legitimate business travel and meetings, until now we haven't been able to demonstrate the concrete, bottom-line benefits that argue for companies maintaining travel as an integral part of their corporate strategy. Now we have the evidence.
Travel Drives Company Revenue and Profit Growth
After months of comprehensive study, Oxford Economics, a world leader in research and analysis, has completed a groundbreaking econometric study which for the first time clearly links travel and corporate profitability. This analysis of travel's relationship to various components of a company's operations provides eye-opening information gleaned from 13 years of data to provide an estimated 12.5-to-1 return on investment for revenues at companies who invest in travel, and $3.80 in new profits for every dollar spent on business travel.
Significantly, at this time when so many companies are being discouraged from traveling, the study shows the average U.S. business would forfeit 17 percent of its profits in the first year of eliminating business travel. It would take more than three years for profits to recover.
Among the other key findings:
Executives cited customer meetings as having the greatest returns, in the range of $15-$19.99 per dollar invested.
Executives identified the average return on conference and trade show participation to be in the range of $4-$5.99 per dollar invested.
Companies would need to increase an employee's total base compensation by 8.5 percent in order to achieve the same effect of incentive travel, according to executives.
While many communities across the country continue to suffer because of the fear companies have of being perceived as irresponsible if they hold meetings or engage in other forms of business travel, these results should make it clear that companies are being irresponsible to shareholders if they don't. "
Bottom line: let us show you how you can get the most out of your meeting or event and we can help you reach out to your prospects to give them the data they need to support coming. The evidence is in: business benefits from travel and meetings and events!