Members Represent More Than $600 Million Annually

in Hospitality-Related Business

In August 2006, FICP engaged an independent research consultant to conduct the first-ever Economic Impact Study for the insurance and financial services meeting planning niche. The purpose of the survey was to provide information so that planners can benchmark their meetings activities against those in other insurance and financial services companies, and to measure and demonstrate the value FICP members provide to the HP community.

The survey was sent to the most senior planner member at each member company location. A total of 216 e-mails were successfully delivered, and 112 completed surveys were returned for an impressive 52% response rate! The results contain a margin of error of +/-5% at the 90% confidence level.

FICP shared the results during its 2006 Annual Conference in Las Vegas, Nevada. Each attendee received a copy of the Executive Summary.

FICP is BIG Business – With average annual budgets of nearly $2.8 million, the combined effect of all meetings departments through FICP membership calculates to a $600 million industry. And it’s growing! Nearly one-third of respondents said their budgets grew from 2005 to 2006, and 30% anticipate 2007 budgets exceeding their 2006 budgets.

To learn more, click here for the survey report in its entirety.