Are you interested in meeting and event planning? It’s a great time to enter this sector of the hospitality industry! The conference, meeting, and event planning industry is experiencing an unprecedented rate of growth, as a strong overall U.S. economy continues to grow. Meetings and business events not only play a critical role in connecting people and driving business results, they also support 5.9 million jobs and hundreds of billions of dollars in annual revenue. Over recent years, businesses have invested more than ever on in-person meetings. Why? Because they work! Read on to find out more about why the meetings and events industry is on fire, and how you can become a part of it with training from TISOH, The International School of Hospitality.
The meeting and events industry supports jobs, brings money to local economies, and boosts dozens of industries. In 2016, 1.9 million meetings were held in the United States, that’s more than 5,200 every single day. This figure does not even begin to capture the full scope of the industry, as it only includes gatherings of 10 or more people, for a minimum of four hours in a contracted venue. In all, there were over 251 million meeting participants in 2016, enough to create the world’s 5th largest country!
Those 1.9 million meetings resulted in significant economic impact. In 2016, planning, production, travel, and other direct expenditures for meetings and events accounted for $325 billion of direct spending in the U.S. According to research done by meetingsmeanbusiness.com, there was an additional $1.60 in indirect or induced impacts (spending associated with downstream or “supply chain” costs as well as spending by industry employees that supports the broader economy) for every one of those dollars spent on the planning, producing and attending an event. All this spending created an overall economic impact of $845 billion from in-person meetings in 2016, an impact that is then shared across a variety of industries.
The economic impact of the meetings and events industry is growing year over year, as more money is invested each year than the last. Direct spending for meetings has expanded 23% since 2009, and according to the studies done by Meetings Mean Business, 42% of corporate meeting planners expect to have bigger budgets this year. Corporations are putting more resources into their event efforts, with growing budgets and bigger teams, because they recognize the significant value these in-person meetings represent. Meetings play an important role in connecting people and driving business results, and can be critical in a company’s ability to explore new business opportunities, build new partnerships, negotiate agreements, and train new employees. Business owners and supervisors find in-person meetings to be so effective, 96% of small business owners say in-person meetings yield a return on investment and 93% of senior-level business managers believe face-to-face meetings improve their ability to close deals. Even as we move forward into an increasingly technological world, where much business is conducted remotely, in-person meetings and events continue to be a critical means for businesses to achieve their objectives.
Growth in the meetings and events industry translates into increasing demand for professionals in this field as well. According to data from the Bureau of Labor Statistics, job growth for meeting and event planners outpaces the average by 4%. Job growth for meeting and event planners is expected to grow at a rate of 11% from 2016 to 2026, higher than the average expected job growth of 7%. With growth in the industry like this, event planners appear to have a bright future ahead of them on the job market.
TISOH, The International School of Hospitality, in Las Vegas, NV, provides accredited, comprehensive, state-of-the-industry training programs for the next generation of meetings and events professionals. At TISOH, students learn planning, production, organization, and design, to create effective meetings and events of any scale and style. Under the guidance of professional faculty, students learn how to evaluate, select, and negotiate for all aspects of any kind of meeting or event: design, logistics, catering and more. TISOH offers a Diploma in Hospitality Operations, in which students can choose an Event Planning focus. Students may also choose to pursue individual certificates with TISOH’s single-topic, focused certificate programs in Conference Management and Event Planning, Event and Design Planning, and Exhibition and Tradeshow Management. At TISOH, all courses are taught by faculty with industry experience, and students receive one-on-one individualized attention and mentoring from the esteemed faculty. TISOH also offers comprehensive career services, and all students benefit from TISOH’s extensive network of industry affiliations and partnerships.
If you are ready to take the next step towards joining the growing field of meeting and event planning professionals, call TISOH at 702-947-7200. Our helpful and friendly admissions representatives are always available to discuss your career options, and will even help you begin the enrollment process. To learn more about how to become an event planning pro with TISOH, or to simply learn more about TISOH, our modern Las Vegas campus, and our online learning options, call TISOH today!