Research. The Joint Meetings Industry Council (JMIC) released a research report commissioned to determine the state of industry value measurement and to make recommendations as to how those measurement processes might be enhanced in the future. The study was carried out in response to a series of recommendations developed by delegates to a Conference on the Value of Meetings held last year at the Royal College of Physicians in London under JMIC’ initiative.
“Good and consistent measurement procedures are essential to maintaining industry credibility in the face of increasing expectations in this regard from governments, organizers and participants”, said JMIC President Philippe Fournier. “In a time when the Meetings Industry has a great deal to contribute to global economic recovery and development, we need to be able to advance our value proposition as effectively as possible and demonstrate the ability to measure our value in terms that will resonate with the broader global community”.
The study involved an analysis of representative value measurement models from around the world to determine how well these served existing and future needs along with recommendations of how any identified gaps could best be addressed. Amongst the study conclusions were:
“The completion of this report puts us in a position to provide some guidance to jurisdictions that are now looking for credible ways to document their contribution to the economy and to supporting local business, professional and community aspirations: said Fournier. “It will also provide us as JMIC with a framework for documenting and communicating the values we see as associated with our sector and facilitate the completion of a directory of value models and a “toolkit” for using such data in advocacy, which were other recommendations arising from the Value of Meetings Conference”.
