January 26, 2010
The London Convention Centre.
London Convention Centre events that draw out-of-town delegates and exhibitors to London, Ont., generate an estimated $14.1-million in total direct spending.
This, according to the London Convention Centre Economic Impact Study.
According to the study, the total direct spend on events attracting out-of-province delegates and exhibitors is an estimated $6.8-million.
Of that $14.1-million spend by out-of-town delegates and exhibitors, $9.4-million resulted from delegate spending, $2.4-million from exhibit spending and $2.3-million in convention-centre production costs.
Conducted by Synovate, the study surveyed non-local delegates/attendees and exhibitors attending qualifying LCC events from July, 2008, to June, 2009.
Economic Benefits to London, Province
Additionally, the $14.1-million in direct spending resulting from events attracting out-of-town delegates and exhibitors generates $9.6-million in GDP for London ($6.3-million directly from companies providing goods and services; $1.8-million indirectly from related supplier industries and $1.5-million induced from employees spending their earnings).
As for the economic benefit to Ontario, the $6.8-million in direct spending due to events drawing non-Ontario delegates and exhibitors generates $4.5-million in GDP ($2.5-million directly, $1.1-million indirectly and $0.8-million induced).
The average non-local delegate/attendee party spent roughly $301 per show day as a result of attending a LCC event.
Ontarian delegates spent roughly one-half as much, per delegate day, as those travelling from further distances. However, total spending across regions of origin outside of Ontario was fairly comparable.
The average exhibit (includes all staff and travel companions) spent approximately $2,481 as a result of exhibiting at a LCC event, including $433 on production and $2,048 on non-production spending.
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