Las Vegas Provides Successful Business Environment
LAS VEGAS, Feb. 5 /PRNewswire-USNewswire/ -- Face-to-face meetings have the highest return-on-investment (ROI) among all sales and marketing tools used in business and the meeting and convention industry injects an estimated $200 billion into the national economy annually. These ROI results are part of the FutureWatch Study by Meeting Professionals International (MPI) scheduled for release next week.
"You cannot discount the value of face-to-face business interactions and the impact that meetings have on the overall economy in our country," said Bruce MacMillan, CA, president and CEO of MPI, the leading industry association for meetings and events. "Every great accomplishment in business started with some sort of meeting."
Las Vegas hosts approximately 22,000 meetings, conventions and trade shows annually, attracting 6 million visitors who account for an economic impact of $8.5 billion. The meeting industry directly employs more than 46,000 Southern Nevada workers, a figure that increases to more than 75,000 when indirect impacts are combined.
"The meeting industry is one of the most vital parts of travel and tourism in Las Vegas, and the destination has committed innumerable resources to ensuring the success of these events," said Rossi Ralenkotter, president and CEO of the Las Vegas Convention and Visitors Authority. "The perception that Las Vegas is merely a gaming and leisure destination is antiquated and uneducated. The meeting facilities in Las Vegas are among the best in the world, and the resorts represent major international companies, many of whom are publicly traded on Wall Street."
There has been a lot of recent media attention on the meetings and business industry because of events planned by some financial corporations that have received federal aid. However, it is unfair to punish an entire industry that generates billions of dollars in economic stimulus and jobs for the American public.
"We are extremely concerned about the unintended consequences of restricting corporate meetings, events and incentive travel programs. Business-related travel creates 2.4 million jobs, $244 billion in spending and $39 billion in tax revenue at the federal, state and local level," said Roger Dow, president and CEO of the U.S. Travel Association.
Travel and tourism, including meeting and business travelers, are a vital part of the national economy and will be a key element in stimulating its growth.
Las Vegas is the premier destination in North America for meetings and conventions and provides planners with unparalleled facilities, accommodations, amenities and service to conduct a successful event. Events typically experience an increase in attendance of approximately 15 percent and research has shown that delegates are more focused on conducting business while they are in Las Vegas. Las Vegas has been the No. 1 trade show destination for 14 consecutive years according to the "Tradeshow Week 200" list of largest trade shows.
ABOUT THE LVCVA
The Las Vegas Convention and Visitors Authority (LVCVA) is charged with marketing Southern Nevada as a tourism and convention destination worldwide, and also with operating the Las Vegas Convention Center and Cashman Center. With approximately 140,000 hotel rooms in Las Vegas alone and 9.7 million square feet of meeting and exhibit space citywide, the LVCVA's mission centers on attracting ever-increasing numbers of leisure and business visitors to the area. For more information, go to www.lvcva.com or www.VisitLasVegas.com.
"Partnering with Las Vegas has been a great success for our trade show. We have increased our attendance every year, and our clients have no qualms about sending their employees to a show in Las Vegas."
Rob Mesirow, Vice President of Business Operations
Cellular Telecommunications and Internet Association
"We hold a number of events in Las Vegas, because they provide the most professional and productive atmosphere possible at a cost that is typically equal to or below other major destinations in the country."
Galen Poss, President
Hanley Wood Exhibitions
"Las Vegas is a destination where meetings produce results because the attendees are focused on the business at hand, knowing the shows and attractions will be available after the work is done."
Thomas Morano, Vice President of Meetings & Conventions
American Financial Services Association
SOURCE Las Vegas Convention and Visitors Authority