Assessing the Economic Importance of Meetings Activities in Denmark

Abstract

The aim of this paper is to discuss the methodologies in compiling the satellite accounts for meeting activities and to present the economic importance of meeting activities using the Danish regional economic model. Meeting activities, with a total expenditure of DKK 20.8 billion, make a significant contribution to the economy. It is estimated that Denmark held nearly 188,000 meetings in 2010, which were attended by a total of 6.9 million delegates. The meeting sectors have created a direct turnover of DKK 11.4 billion recorded as expenditure by meeting organisers and DKK 9.4 billion spent by delegates. It is estimated, through the Danish regional economic model, that meeting activities directly created 25,800 full-time equivalent jobs and DKK 8.5 billion of gross value added (GVA). When including indirect effects, meeting activities generated a total of 38,000 full-time equivalent jobs and DKK 15.3 billion of GVA. Direct government revenues are estimated at DKK 5.4 billion, half of which is from personal and corporate income taxes and the other half from value-added taxes. Total government revenues are estimated to be DKK 7.8 billion.

Key Words:

• Meeting industry
• MICE tourism
• satellite accounts for meeting activities
• regional economic model