The capital, which hosted 12,455 meetings last year, recorded an increase in the number of delegates (+12.7%) and in the average visit length
Meetings tourism in Madrid generated 816 million euros in 2014
BUSINESS 6 June 2015
The impact of meetings tourism in Madrid grew in 2014. According to the report produced by Madison Market Research, this tourist segment generated an economic impact in the city of 816 million euros, an increase of 7.4% compared to 2013. The rise in international meetings (+3.2%) and of foreign delegates (+18.4%), the ones who spend more money per day in the city, has favourably influenced these results.
Money spent on eating out (47.3%) and shopping (18.8%) accounted for more than half the total outlay of professionals attending the 12,455 meetings hosted by the city last year. Of these, 2,266 were congresses, 2,585 conventions and 7,604 one-day events. The chemical and pharmaceutical sectors, along with teaching and research, were the most represented.
Despite a slight drop in the number of meetings compared to 2013, in 2014, Madrid received a higher number of delegates, reaching a total of 1,210,000 participants (+12.7%). These delegate generated 2.3 million overnight stays in Madrid's hotels. The average length of visits to the capital also increased, standing at 2.97 days, meaning that delegates are staying longer in Madrid than in 2013.
Plus, in 2014 and according to the latest ranking produced by the International Congress and Convention Association (ICCA), the capital consolidated its position as the world's third most popular destination.
MCB, key to success
The Tourism Department of municipal company Madrid Destino, through the Madrid Convention Bureau (MCB), which is responsible for Madrid's promotional strategy as a meetings tourism destination, has been key to the capital's success in hosting professional meetings. A total of 53 meetings were captured directly by Madrid Convention Bureau in 2014, with the support of its nearly 200 associated companies, generating more than 65 million euros for the city of Madrid. This figure accounts for 13.2% of the total economic impact of meetings tourism in the capital for that year.
Plus, one of every two euros of economic impact generated by the congresses held in Madrid has been the result of action by the MCB, leading to 135 million euros of income for the city.
A good image of Madrid
Meeting organisers value the city of Madrid very highly as a professional meetings location, praising the high standard of infrastructures and services and saying that they would recommend it for holding future events.
Feedback on Madrid obtained from the surveys carried out with congress and convention organisers, both from Spain and from abroad, has been extremely positive. Madrid receives a score of 7.9 out of 10 as a city meetings location and 8.1 out of 10 as a city to be recommended as a business destination./