Praque Convention Bureau: Congresses Held in ...
Praque Convention Bureau

Congresses Held in Prague Bring Annually up to 200 Million Euro to Public Budgets

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Meeting industry in Prague generates in multiplication an annual income of between 170 and 200 million Euro to public budgets. According to the new KPMG study prepared for the Prague Convention Bureau, only 3,9% will return to Prague's budget. Based on KPMG's analysis, the performance of Prague's tourism business represented roughly 1.3 billion Euro in 2016, which is about one third of the Czech Republic's overall performance. At the same time, it is also 6 to 7% of the economic performance of the capital, which makes tourism one of the most important economic sectors in Prague. Meeting industry accounts for 1.1% of Prague's GDP, solely to the tourism industry it is for 15%.Unlike leisure tourism, the meeting industry is severalfold more profitable in terms of the amounts of money international congress participants spend. On average, a congress delegate coming from abroad spends 218 Euro, which is four to five times more than the expenses of a usual visitor. Total revenues from the meeting industry, including sales to the local participants, reach up to billion Euro in multiplication. "The meeting industry, however, brings not just billions to public budgets, but it also creates specific jobs. In Prague this means roughly 5,470 full-time jobs, which is 5.5% of the total employment in tourism in the metropolis," says Ondřej Špaček, KPMG expert on tourism. www.pragueconvention.cz  
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Prague KPMG
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