Economy of convention and exhibition event: estimation and concepts

Abstract

MICE industry is one of the most progressing sector of world economy, which provides an enormous multiplicative effect, developing country’s economy. These are tax revenues to budgets of various levels from exhibition organizers, service organizations, cultural institutions, transport, hotel and restaurant sector enterprises, from expanding and creating new industries, increasing commodity circulation, creating new jobs, attracting investment. The system of organizing congress and exhibition events is multilevel and affects all levels of the country's economy. A special sector of the economy appeared - MICE industry. For the real sector of the economy, congress and exhibition events become an effective tool for innovative development, form the necessary information field, the direction of financial flows and additional income to budgets of all levels. At the regional level convention and exhibition industry is underway to create competitive and innovative potential. new jobs affecting the overall trade and economic effect and budgetary efficiency due to the achieved gross domestic product. In addition, it is important to understand that the holding of congress and exhibition events is associated not only with the economic, but also with the image effect for the city, country, and even for the particular industry in which the congress and exhibition event is held. So, the image-building, non-material effect also affects the promotion of the city itself as a center of attraction for the business community, and the main theme of the event. Moreover - this is a possible increase in the number of events in the future. For each participant in this system, methods are needed to calculate the effectiveness of their participation, the appropriateness of the resources invested, and the effect of the result. In this article authors present the assessment of convention and exhibition events by the side of participant, organizer and regional authorities. The authors also analyze the basic principles of organizing convention and exhibition events. Keywords: convention and exhibition management, event, convention and exhibition event economy, MICE industry

Keywords

• convention and exhibition management
• event
• convention and exhibition event economy
• mice industry