Madrid: Meeting Tourism Brought 1.7 Billion Euros

Last year, meeting tourism had a direct economic impact of 1.715 billion euros in Madrid, a figure that represents 87% of that obtained in 2019 and that places it as one of the great engines of development of the tourism sector in the capital. These data have been released by the Madrid Convention Bureau (MCB).

According to the report, accommodation and post-meeting expenses in shopping, leisure and/or restaurants were the items to which the highest percentage of spending was allocated, with 38% and 30%, respectively. The rest was dedicated to making registrations (18%) and consumption by companions (4%).

Also noteworthy is the significant volume of spending by professional visitors of international origin, since they represent 29% of the total number of participants. Its average impact stood at 1,539 euros in 2022, compared to 753 for the national tourist. In total, the consumption of this visitor represents 40%.

More Than 44,500 Meetings

During the last year, the city of Madrid hosted more than 44,500 meetings including congresses, conventions and conferences, 82% compared to the figure reached in 2019. All of them brought together more than two million participants. The stay in the capital of the international business traveler lasted on average of 4.8 nights.

On the other hand, the degree of satisfaction of the participants with the capital and the services offered at events and meetings was very high, with a score of more than 8.5 in all the elements analyzed and an assessment of the city of nine points out of ten.

International Promotion of Meeting Tourism

The main strategic lines for this year were announced by the authorities. In this sense, the Madrid City Council, through MCB, will bet on strategic markets for the capital, such as the United States or Latin America, without neglecting markets like Europe, by carrying out different dissemination actions both in origin and in the destination.