International Corporate Events Worth 125 Million Euros to Finland
05/03/2008 - Finland Convention BureauAccording to new research commissioned by Finland Convention Bureau, the economic impact of international corporate events held in Finland in 2006 was worth over 125 million euros.
The latest survey expands upon last year’s pilot study, which focused only on incentive travel. International corporate events comprise all such events, including incentive visits and meetings, in which at least 40 percent of the participants come from outside Finland.
The purpose of the study was to assess the volume, targets and economic impact of international corporate events held in Finland in 2006, as well as the countries of origin of the participants. Incentive groups were separated within the study to clarify their impact on the total result. A questionnaire was sent to 77 companies active in corporate events, of which 48 percent responded. The research was carried out by Finnish market research company Taloustutkimus Oy.
Over 143,000 participants
A total of 4,950 international corporate events were held in Finland in 2006, including 750 incentive groups accounting for roughly 15 percent of the total. The combined number of participants was 143,100, including 27,840 members of incentive groups accounting for 19 percent of the total. Among the incentive groups 36 percent included a meeting or training event. The average duration of all corporate events was 3.2 nights, while incentive programmes lasted 2.8 nights on average.
The average price of programme packages per person and per day, excluding incentive groups, was 198 euros. The corresponding average price for incentive programme packages was 332 euros.
Most international corporate events came from Germany, Russia and Spain. In terms of numbers of participants, the main countries of origin were Spain, France and Germany. The majority of events, 71 percent, involved less than 50 people, and their main destinations in Finland were Uusimaa (Southern Finland – 48 percent) and Lapland (33 percent). The most popular season for events was January-March.
Incentive visits generate over 30 million euros
The combined economic impact of international corporate events based on the responses to the survey amounted to 98.9 million euros, of which incentive groups accounted for 25.9 million.
The estimated economic impact of those that did not respond to the survey was 26.2 million euros, of which incentive groups accounted for 6.8 million.
The total value of the economic impact of international corporate events was thus 125.1 million euros, of which incentive groups accounted for 32.7 million.
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