How economically useful is the participation of producers in exhibitions and conferences?

Al Akhbar daily newspaper published today an article questioning the impact of large funds available to the Beirut Chamber of Commerce, Industry and Agriculture and earmarked to the endless conferences and exhibitions held inside and outside the country. Al Akhbar stated that the returns on exhibitors or producers participating in such events were almost zero, considering the additional levy imposed on them, while, noting at the same time, the large increase in the Chamber’s travel expense. Citing informed sources, Al Akhbar said the budget for expositions during 2016 was set at nearly LBP 600 million, 95% of which was spent to date. This budget, the newspaper went on to say, is very high compared to the previous one (LBP 300 million for the year 2015), noting that the Chamber actually spent some LBP 450 million last year, (i.e. exceeding the budget by 36%). Furthermore, and according to the newspaper, the total budget for exhibitions and conferences amounts to LBP 970 million, (which is equivalent to USD 647 thousand). This, the newspaper explained, represents around 10% of the overall budget of the indebted Chamber. Such expenditures also constitute about 18% of total membership fees. In a similar vein, Toni Rami, President of the Syndicate of Restaurants, Cafes and Patisseries expressed relief over the success of the recent Beirut Restaurants Festival which hosted over 70 top eateries from the capital, while noting that the number of visitors reached some 18,000 people (see the news: http://bit.ly/2dsMqlr). (Al Diyar, Al Mustaqbal, Al Akhbar, October 1-4, 2016)