A quick quiz for travel industry observers: Which event had a greater economic impact – Super Bowl 2012 or the U.S. Travel Association’s 2013 IPW, the inbound travel marketplace formerly called International Pow Wow?
A new report comparing the two events found that while the 2012 Super Bowl in Indianapolis attracted more attendees, the 2013 IPW in Las Vegas had a far greater economic impact on its host city. The report was released one day after this year’s Super Bowl.
The report, conducted by Rockport Analytics, LLC for U.S. Travel, found that IPW produced more than four times as many direct expenditures, delivered more than five times the amount of GDP value-added direct impact, and generated greater tax revenues on the local, state and federal levels than Super Bowl 2012.
“We always knew that IPW delivers super-sized economic benefits to the U.S. host city and the U.S.,” said U.S. Travel president and CEO Roger Dow. “We now know those effects are Super Bowl-sized.
“A city’s investment in IPW is the gift that keeps giving, paying dividends over three years in the form of more international visitors and spending in the host city and throughout the country,” he added.
Now in its 46th season, IPW will be held this year in Chicago, April 5 to 9.
Impact in Vegas
According to the report, IPW’s impact on Las Vegas included:
• an increase of more than 1 million international visitors over the following three years
• a $1.6 billion hike in tourism spending
• a direct economic benefit to the city of $891 million.
Impact on Visit USA
The international trade event, which brings together thousands of buyers and sellers from dozens of countries, aims to facilitate and boost inbound travel throughout the U.S.
For the U.S. overall, the report said the impact of IPW 2013 will include:
• 8.8 million additional international visitors over the next three years
• a $28 billion increase in total international visitor spending
• $4.7 billion worth of additional bookings to U.S. destinations.
Rockport Analytics looked at the typical travel booking cycle of up to three years. The firm’s earlier study of the 2012 Super Bowl said the game’s significant economic impact lasted just four days.
“Inbound international travel is an economic no-brainer, and that’s what IPW is all about,” Dow said.
“Because it is exclusively comprised of foreign dollars, inbound travel is an export and creates the third largest trade surplus of any U.S. industry.”