The potential for business events to drive substantial long-term benefits was a key theme at the second day of IMEX Frankfurt. The discussions, held across various platforms including show floor talks, educational sessions, and press conferences, highlighted the multifaceted impacts of events, ranging from securing industry funding to enhancing community development and influencing policy creation.

Leveraging Events for Long-Term Impact

One of the standout discussions was how events can transcend their immediate impact and contribute to lasting legacies. Destinations and associations used the event to share new research findings, illustrating the far-reaching benefits of strategic event planning.

Destination Canada’s Legacy and Impact Research Study

Destination Canada presented its Legacy and Impact research study, which aims to track the long-term benefits of business events hosted in Canada up to 2025. Virginie De Visscher, Executive Director of Business Events at Destination Canada, emphasized that government participation is crucial in leveraging the legacy of any business event. The data indicates that such involvement can lead to policy changes, increased public awareness, and even direct government funding.

Case Study: Insects to Feed the World Conference

A prime example of the positive impact of business events is the “Insects to Feed the World” conference held in Quebec. This event, which aimed to raise awareness of insects as a protein-rich food source for animals, humans, and pets, led to significant outcomes. Following the event, the Canadian ministry recognized insects as livestock, and insect producers secured funding, new partnerships, and a stronger supply chain. Genevieve LeClerc, CEO of Meet for Impact, stated, “This case study exemplifies the impact every city would like to have. It created momentum for a new industry. This is legacy in action, and it’s legacy that keeps on giving.”

Paris: Calculating Economic Impact and Legacy

Paris, which topped the latest ICCA City Rankings announced at the show, supports event organizers in calculating the economic impact and resulting legacy of their events. The city focuses on six key industries: design and creativity, technology, health, culture, sport, and gastronomy, which serve as powerful levers for attracting conferences and professional events. By emphasizing these sectors, Paris aims to maximize the long-term benefits of hosting major events.

Purpose over Profit: Reinventing Business Impact

A growing number of global companies are rethinking business impact by prioritizing purpose over profit. At one of IMEX Frankfurt’s educational sessions, Danny Pecorelli, Managing Director of Exclusive Collection, discussed his company’s journey to become the UK’s first B Corp accredited hotel company. Pecorelli highlighted that profitability should not come at the expense of ethical practices. “It’s not bad to make a profit; it’s how you make a profit that counts. It’s not just about what you do, but also the impact you’re making in terms of who you work with. We ensure we do our due diligence across the supply chain,” he said.

The Economic Power of the Events Industry

Amy Calvert, CEO of the Events Industry Council, underscored the economic significance of the global events industry during the launch of EIC’s new Future Landscapes Survey. Calvert noted that if the events industry were a country, it would rank as the 13th most powerful by economic impact (GDP). She emphasized the need for the industry to shift from a reactive to a proactive stance, leveraging collective knowledge and collaboration to lead with a higher purpose. “As an industry, we’ve tended to be reactive in the past. Now it’s time to work more closely together, to be more informed and proactive, and to lead with a higher purpose. This is why the Future Landscapes Survey is so important,” Calvert explained.

Conclusion: The Long-Term Value of Business Events

The discussions at IMEX Frankfurt highlight the immense potential of business events to create positive, long-term impacts. From securing industry funding and fostering community development to driving policy changes, strategically planned events can leave lasting legacies. The examples of Canada’s research initiatives, Paris’s industry-focused strategies, and innovative business models like those of Exclusive Collection underscore the diverse ways in which events can contribute to sustainable development and economic growth. As the global events industry continues to evolve, the emphasis on purpose-driven and impactful event planning is likely to play a crucial role in shaping a more sustainable and prosperous future.

By embracing these strategies, event organizers and destinations can ensure that their efforts yield benefits far beyond the immediate success of their events, fostering enduring positive change and richer legacies.

The post IMEX Frankfurt Day Two: Spotlight on the Lasting Impact of Business Events first appeared on MICE Travel Advisor.