ASAE Study Revealing $43 Billion Impact of Association Shows Unveiled at 2024 Annual Meeting

August 21, 2024

In an indication that business events have solid momentum right now, the American Society of Association Executives (ASAE) drew 5,070 participants—including 2,900 association executives and planners—to its 2024 annual meeting, held August 10-13 at the Huntington Convention Center in Cleveland. That figure is 2.4 percent higher than for the 2023 event at the Georgia World Congress Center in Atlanta.

On August 12, ASAE held a press conference for industry journalists and local reporters, touching on the $6-million economic benefit the meeting generated for Cleveland. That data served as a lead-in to announcing the results of a nationwide research initiative titled “The Power of Associations.”

“This new study quantifies the power of associations to boost America's economy and generate opportunity through good jobs with competitive pay, events that support local businesses, and substantial tax payments to all levels of government,” said Michelle Mason, president and CEO of ASAE.

The association partnered with Oxford Economics to survey 20,000 associations for the report. In addition to its wider findings—for instance, national and state associations directly support 1.1 million jobs—the research underscores the impact that association events have on the U.S. economy.

ASAE
The ASAE 2024 show floor. Photo credit: Nick Hagen

To wit: More than 272,000 association events each year attract nearly 52 million participants and generate about $43 billion in spending—a significant portion of the roughly $110 billion spent overall on meetings, conventions, and exhibitions in the U.S., according to the Meetings Mean Business coalition.

ASAE’s full research report can be found here.

Tax Changes Coming?

Mary Kate Cunningham, senior vice president of public policy for ASAE, noted during the press conference that “some tax cuts that are due to expire at the end of 2025 could have a big effect on the way nonprofits are treated” if Congress does not vote to keep them intact for 2026 and beyond. In fact, “this is the most serious threat we have seen in the last 50 years.”

As a result, “ASAE seeks to build a large coalition of associations around the country to bring the message to legislators in Washington, D.C., about how much impact associations have on the American workforce.”

Cunningham added that more details on that initiative will be released in the coming weeks.

This article was originally published on our sister publication, MeetingsNet.

Lead image: ASAE President and CEO of Michelle Mason addresses the industry media and the host city's business-news reporters during the ASAE annual meeting in Cleveland. 

 

Don’t miss any event-related news: Sign up for our weekly e-newsletter HERE, listen to our latest podcast HERE and engage with us on LinkedIn!

Add new comment

Partner Voices
  MGM Resorts is renowned for its exceptional service and diverse venue options across Las Vegas, Detroit, Springfield, National Harbor, Biloxi, and Atlantic City, providing flexible spaces for meetings of any size. Beyond these offerings, MGM Resorts distinguishes itself through a strong commitment to social responsibility and sustainability, making it an ideal choice for your next meeting.  At the core of MGM Resorts' company values is its platform, "Focused on What Matters," dedicated to meeting customer needs while advancing socially responsible practices. This commitment is evident in several key areas:  Protecting Natural Resources  MGM Resorts is home to industry-leading recycling, renewable electricity and water conservation programs. Some highlights include a cogeneration power plant at ARIA, producing ultra-efficient electricity; one of America’s largest contiguous rooftop solar arrays atop the convention center at Mandalay Bay; and onsite wells that provide water for the celebrated Fountains of Bellagio, avoiding reliance on precious Colorado River water. These efforts and many more save on natural resources while boosting attendee satisfaction.  Committed to Community  Always striving to be good neighbors, MGM Resorts works to avoid food waste and combat food insecurity with the Feeding Forward program. In partnership with local food banks, they safely divert unserved food to food insecure members of the community. Since 2016, over 5 million meals have been provided, highlighting MGM Resorts' commitment to minimizing food waste and addressing community needs.  MGM Resorts supports clients in their responsible-meetings efforts, not only with efficient venues but also waste-reducing décor and signage; sustainable food and beverage options; and outreach to help planners communicate sustainability efforts to attendees. What’s more, they offer a Mindful Meetings series that puts attendee wellness first—through fitness and mindfulness activities, and in give-back events with local charity organizations.   Fostering Diversity & Inclusion  To MGM Resorts, a diverse and talented workforce is essential to success. By cultivating innovative strategies that consider multiple perspectives and viewpoints, the company creates an inclusive workplace culture that benefits its employees and community. MGM Resorts takes pride in being a welcoming home for veterans, individuals with disabilities, people from diverse backgrounds, LGBTQ+ community members, and more. This commitment to inclusion is reflected in the company's recruitment and hiring practices and its social responsibility initiatives. From the workplace to the community, MGM Resorts' commitment to diversity, equity and inclusion remains unwavering, and its efforts continue to create a more equitable and sustainable world for all.  MGM Resorts offers unparalleled service and venue options while standing out for its proactive approach to sustainability and community engagement. Choosing MGM Resorts for your next meeting means aligning with a company that values social responsibility, efficiency, and attendee satisfaction, ensuring a meaningful and impactful event experience.