Richmond, Va.— Virginia Tourism Corporation conducted an impact study with Tourism Economics which concluded that meetings and conventions visitation have fully recovered to pre-pandemic levels in Virginia, generating $5.8 billion in direct spending in 2023, with $2.1 billion contributed solely by visitors. Visitors participating in meetings and conventions spent nearly $6 million per day in Virginia last year. About 4.9 million people attended a meeting or convention in Virginia, with 2.5 million staying overnight, representing 6 percent of Virginia’s total overnight visitors.
The meetings and conventions sector in Virginia hit a significant low in 2020, thanks to the pandemic. There was a 72 percent drop in meetings-related visitation, and a 73 percent decrease in meetings-related travel spending.
“The resurgence of Virginia’s meetings and conventions sector to pre-pandemic levels is an economic impact win that should be celebrated,” said Caren Merrick, Virginia Secretary of Commerce and Trade. Generating $5.8 billion in direct spending and employing more than 56,000 Virginians, this sector is vital to our Commonwealth’s prosperity. The $335 million in state and local tax revenues further emphasizes its importance in supporting our communities and enhancing the quality of life for all Virginians.”
About 47 percent of all meetings-related spending is in Northern Virginia, on account of the region’s concentration of meeting spaces and a third of the state’s hotel rooms. Coastal Virginia comes in second with 23 percent, followed by Central and Southern Virginia at 18 percent.
“Investing in our meetings infrastructure and enhancing our competitive edge is essential for Virginia to continue thriving as a top destination for business and leisure,” said Joni Johnson, Director of Domestic Sales for Virginia Tourism Corporation. “Tourism stakeholders across the Commonwealth have cited insufficient meeting space and hotel rooms as key reasons for losing business to competitors. This underscores the need for investment in meetings infrastructure, marketing support, and hotel development to maximize future economic impact.”
