US trade show IPW is more beneficial for a host city's economy than hosting than the Superbowl, according to research carried out by Rockport Analytics.
The annual US trade show took place in Chicago this week, attracting 6,200 attendees from around the world, who participated in more than 95,000 pre-scheduled appointments.
The study compared the economic impact of last year's IPW in Las Vegas with the 2012 Superbowl in Indianapolis. It concluded that while the Superbowl attracted more attendees, the measurable impact of IPW was longer, because it lasted three years as opposed to mere days. For the host city, IPW produced more than four times as many direct expenditures as the Superbowl.
Roger Dow, president and chief executive of the US Travel Association, said: "When it's the Superbowl, upwards of 70,000 visitors come in, spend a lot of money over a four-day period and go home. There's no residual benefit. This research was a big surprise to us, and makes it a lot more interesting for cities who want to host future IPWs."
He added: "The study was based on Las Vegas, but a city like Chicago will see an even greater effect. Las Vegas and Orlando are well-known but emerging markets know less about Chicago and [2018 host city] Denver, for example."
Future IPW host cities have been confirmed as far ahead as 2020: Orlando in 2015 Miami in 2016 Washington D.C in 2017 Denver in 2018 Anaheim in 2019 Las Vegas in 2020
Choose Chicago president and chief executive Don Welsh said hosting IPW was a major part of the destination's growth strategy, and he was backing a more regular rotation: "We last hosted IPW 16 years ago in 1998. I don't want it to be more than seven or eight years before we host another."
He added: "We are still in catch-up mode so if we can achieve just half the $1.6bn increase in tourism spending quoted for Vegas in the next three to five years, we'd be very happy with the result."
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