Congress Messe Innsbruck generates €360m for local region

Congress Messe Innsbruck (CMI) generated €360m ($397m) in gross added value for the region in the 2017/18 financial year. The figure comes from new research by the Austrian Institute of Economic Research (WIFO), which comprehensively analysed the impact of events at the venue. It also secures around 5,800 jobs, generating tax revenues of €120m ($132m) and social welfare contributions of €62m ($68m). The study also shows that international congress guests are particularly eager to spend: expenditures per congress participant average around 530 euros per day, which is three to four times as much as the average tourist, according to comparative statistics from Tirol Werbung for 2017. Study author Oliver Fritz of WIFO commented: “Income generated by events flows back into the economic cycle and subsequently triggers additional value-added effects. Event visitors, as well as those actively involved in the organization of the event, travel to the events, consume food, and make use of accommodation and leisure services during their stay.” Director Christian Mayerhofer, CEO of Congress Messe Innsbruck, added: “As a leading Tyrolean event venue company, we strive to strengthen the locality in the areas of science and research in addition to culture, tourism, and education while simultaneously raising Tyrol’s business profile. In terms of added value, Congress Messe Innsbruck once again ranks among Austria’s most successful congress facilities and trade