Economic Development
| More

Conventional Wisdom

Conventional Wisdom

BY: | March 2005



Cities are still hot on the idea that if they build it, it will pay off. Over the past decade, new public capital spending on convention centers has doubled to $2.4 billion annually, and 44 new or expanded convention centers are currently in planning or construction stages. Conventions were the most stable part of post-September 11 business travel ["Meet Marketing," March 2002].

Now, citing declining attendance, a report from the Brookings Institution says the convention marketplace may be headed for long- term stagnation. At the nation's 200 largest conventions, attendance in 2003 languished at 1993 levels. Economic cycles and the shakeout in the technology industry are blamed for fueling a trend away from convention events.

Despite all the doomsday predictions, critics say the report takes a limited view of the industry. The problem, says Robert Canton, director of the convention and tourism practice for PricewaterhouseCoopers, is that the top 200 events change year to year, making comparisons difficult. When the dot-coms collapsed, so did many of the technology conferences, which made a substantial contribution to attendance numbers. But this isn't necessarily a permanent situation, he believes.

"Each community has to look at this on their own merits," says Canton. "What works for Chicago, New York and Las Vegas doesn't necessarily work for St. Louis or Indianapolis."


If you enjoyed this post, subscribe for updates.

Elizabeth Daigneau
Elizabeth Daigneau

Elizabeth Daigneau is GOVERNING's managing editor.

E-mail: edaigneau@governing.com
Twitter: @governing

Comments



Add Your Comment

You are solely responsible for the content of your comments. GOVERNING reserves the right to remove comments that are considered profane, vulgar, obscene, factually inaccurate, off-topic, or considered a personal attack.

Comments must be fewer than 2000 characters.

Latest from Economic Development


More From Economic Development

GOVERNING Data

Events & Webinars

  • High-Performance Government - Building "Better, Faster, Cheaper"
  • June 20, 2013
  • Nationally, six straight years of revenue declines have put enormous pressure on state and local governments, nevertheless, some are thriving. Standard & Poor's, the credit-rating agency, reports that it issued more bond upgrades than downgrades in 2012.

  • Health Care Reform is Here: Are You Ready for the Rush?
  • June 27, 2013
  • The Medicaid expansion and the Affordable Care Act are in full swing. With the influx of people who will be applying for benefits and the ACA requirement for online enrollment, it is more important than ever to verify the identities of those accessing benefits up front.

More Events & Webinars


© 2011 e.Republic, Inc. All Rights reserved.    |   Privacy Policy   |   Site Map