In the News: London Olympics Shows Industry's Contribution to Job Creation

olympic lanesAs we in the industry know, event planning, travel and hospitality have a significant "economic footprint"  and job creation potential. The most recent example is the legacy of the recent Summer Olympics in London. According to the London Legacy Development Corporation (the public sector, not-for-profit organization responsible for the long-term planning, development, management and maintenance of the Olympic Park and its facilities), six of the eight venues (Aquatics Centre, Orbit, Multi-Use Arena, Olympic Village, Velodrome, Eton Manor) will continue as permanent venues. Other venues, such as the press and broadcast centers, will be adapted for commercial use.

In all, the LLDC expects to have up to 8,000 permanent jobs on the park by 2030 (plus 2,500 temporary construction jobs). The Park itself is being positioned to become one of London's top 10 most visited attractions by 2020. And that's just the beginning.

It is important for industry professionals to cite these types of statistics, to demonstrate how event planning, travel and hospitality contributes to job creation. According to the U.S. Travel Association, there are currently 14.4 million jobs supported by the U.S. travel industry. Furthermore, since March 2011, when the US job market recovery began, the US travel industry has created 271,000 new jobs, outpacing the job growth rate of the rest of the economy. According to Statistics Canada, the Canadian travel and tourism industry accounts for 617,200 jobs.

It is clear that meetings, events and travel represent significant job creation engines worldwide.

To learn more about meeting and event planning in London, go to the Cvent Destination Guide. And to learn international meetings secrets from industry leaders, register for a complimentary video broadcast of a live panel discussion at IMEX America taking place on October 9th, 2012.

Photo Credit: CarlBob via Flickr

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