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Latest FCCI Project Highlights Legacy Benefits of Business Events

November 23, 2015 MICE No Comments Email Email

A new project launched by the Future Convention Cities Initiative (FCCI), an alliance of seven major convention cities, has revealed the wide-reaching contributions that business events create for their host destinations. Entitled “Business Events: The Power to Transform Cities | Events | Society”, the project consists of seven case studies and their subsequent beneficial impacts on their host cities, including one submitted by Seoul.

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Inaugurated in 2010 in Seoul, which also hosted the first FCCI Action Forum in 2011, the partnership seeks to drive multi-sector industry growth though business events; both at a domestic and international level. To this aim, member cities cooperate on knowledge-sharing and research projects, the results of which are made available to the public. In addition to founder-member Seoul, other members include Abu Dhabi, Durban, London, San Francisco, Sydney, and Toronto. The latest project was released during a special press conference held by the FCCI at IMEX America on October 14th.

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Inaugurated in 2010 in Seoul, which also hosted the first FCCI Action Forum in 2011, the partnership seeks to drive multi-sector industry growth though business events; both at a domestic and international level. To this aim, member cities cooperate on knowledge-sharing and research projects, the results of which are made available to the public. In addition to founder-member Seoul, other members include Abu Dhabi, Durban, London, San Francisco, Sydney, and Toronto. The latest project was released during a special press conference held by the FCCI at IMEX America on October 14th.

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The Seoul case study section details how the success of ICM 2014 provided long-lasting benefits both for the city and the worldwide mathematics community. Held in August 2014, the event broke an attendance record for ICM, attracting 5,200 delegates from 122 countries and 22,000 public program participants. It is estimated to have created an economic impact of $11.5 million USD.

The legacy of the ICM in Seoul went beyond an economic level as the magnitude of the congress prompted the Korean government to launch initiatives designed to nurture talented Korean mathematicians and work to bring together the mathematics and business sectors. Through its efforts to use the congress to raise interest in math, 2014 was subsequently declared “The Year of Mathematics” in Korea. Media exposure of the congress itself led to 1,500 feature articles about the event, further boosting Seoul’s international profile.FCCI-Bloom-Quote

“Business events are proof positive that ‘Knowledge comes but wisdom lingers’,” said Maureen O’Crowley, Executive Director of the Seoul Convention Bureau. “The hosting of ICM 2014 in Seoul had profound beneficial effects for the city, nation and the event itself. Perhaps most importantly, students of mathematics near and far will enjoy these benefits for years to come,” she added.

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Featured events hosted by fellow FCCI members include Abu Dhabi Sustainability Week 2015; the 17th Conference of the Parties (COP17) to the United Nations Framework Convention on Climate Change; and London Technology Week, among others.

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“Business Events: The Power to Transform Cities | Events | Society” was produced with CAT Publications, publishers of Association Meetings International. The project is featured in a special supplement in the November/December issue, which can be viewed online here.

More information about the FCCI, including its previous research project, “Beyond Tourism Benefits: Building an International Profile”, can be found at www.fccinitiative.org.

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