News & Articles - economic impact

  • Study to Evaluate Events Industry Losses Spurred by Pandemic

    The Events Industry Council (EIC) has launched a new study that will examine the events industry’s impact on the global economy and, for the first time, quantify the cumulative losses experienced in 2020 due to the COVID-19 pandemic. “This study will provide critical data,” says EIC CEO, Amy Calvert. “Understanding those important points will help with advocacy efforts as we navigate towards the recovery.” The high-profile project will cover the full economic impact of events, using 2019 as a watermark,…

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  • Metro Toronto Convention Centre generates half a billion in economic impact

    Press Release The Metro Toronto Convention Centre (MTCC) announced today that it generated $556 million in economic impact for Toronto and the Province of Ontario during its 2018/19 fiscal year. Aside from the centre’s key contribution to the economy, the end of year results also highlight how the MTCC supports local businesses, helps fight hunger in the community and continues to lead by example in terms of sustainability. How the MTCC helped boost the economy in fiscal year 2018/19 $556…

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  • Study of 17 major Canadian events backs up request for federal program dedicated events industry

    Press Release A new economic impact study of 17 major Canadian events published today shows that Festivals and Major Events Canada’s request for the federal government to establish a program dedicated to the growth of the events industry is more relevant and timely than ever. The KPMG study estimates that a group of 17 events generated a combined $290.8 million in economic benefits (added value at market prices). This calculation is based on $396.4 million in eligible expenditures (operations and tourist). The study estimates…

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