A new economic analysis has revealed that Chicago can expect to see a significant lift in overseas visitation, resulting in new jobs and tax revenue over the next three years as a result of hosting the annual IPW travel trade show this past April.
Chicago was the host city for the U.S. Travel Association’s 46th Annual IPW 2014 which attracted more than 6,200 travel buyers, suppliers and media from 70 countries for three days of deal-making.
The “IPW Effect” will lead to 4,900 new jobs, $320 million in state and local tax revenue and a $1.7 billion bump in visitor spending as a result of the additional 950,207 overseas travellers expected to travel to Chicago over the next three years.
The analysis, conducted by Rockport Analytics, LLC, an independent market research and consulting company, was commissioned by the US Travel Association.
The post-event survey of all international buyer delegates who attended IPW 2014 revealed that 69 per cent of those not currently booking Chicago plan to sell the city over the next three years, while 70 per cent of those already booking into Chicago plan to increase their bookings over the next three years.
Photo: IPW 2014 closing party at Chicago's Museum of Science and Industry