MONTRÉAL, April 6, 2016 /CNW Telbec/ - An independent study by PwC made public today reveals that the 2015 edition of C2 Montréal generated an economic impact estimated at $126.1 million including $55.4 million in Québec.
The fourth edition of the international business conference not only saw its economic impact increase year on year, but also its attractiveness to participants from around the world. Indeed, the 5000 participants in attendance – a 25% increase from 2014 included delegates from 43 countries, namely the United States, the United Kingdom, Germany, China and even a delegation from the movie industry in Nigeria.
The PwC study is based on a survey of 306 participants between November 19th 2015 and January 29th 2016. Targeted to executives, the survey shows that nearly one in three (31%) who participated at the conference subsequently conducted business as a direct result.
The breakdown illustrates that total economic impact from the event is estimated at $126.1 M of which $55.4 M was in Québec. The Québec impact is divided into three segments:
- $44.7 million - Estimated contracts made by Québec organizations following the event participation;
- $8.5 million - C2 Montréal operating expenses;
- $2.2 million - Estimated tourism spending by participants.
C2 Montréal directly and indirectly supports the equivalent of 637 full-time equivalent jobs (FTEs) in Quebec with a potential contribution to provincial GDP estimated at $42.2 million. Economic activities also represent potential tax revenue estimated at $8.4 million for the governments of Quebec and Canada, including $6.1 million for Quebec. In sum, the income is a positive return of $3.6 for every $1 invested in direct and indirect subsidies.
C2 Montréal is also proud to confirm the renewed support on the part of the Government of Canada, the Government of Quebec and the City of Montreal towards their fifth edition that will take place next May 24-26, 2016. Special thanks are warranted for these public sectors partners who have supported C2 from the very first edition.
"The Government of Canada is determined to support Canadian organizations that are engaging in innovation. An annual flagship event that positions the Greater Montréal region as an international hub of creativity, C2 Montréal showcases a different way of doing business. By lending our assistance to C2 Montréal from the very outset, we are continuing to reaffirm our goal to stimulate innovation and promote economic growth and job creation. This support is testimony of our commitment to economic development." - The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"Benefits stemming from C2 Montréal are proof that creativity enriches Québec, especially from an economic perspective. Since its inception, this international event has been a unique lever for business development, particularly by helping build bridges between various markets. The Government of Québec is therefore proud to contribute to the success of C2 Montréal." - The Minister of Economy, Science and Innovation and Minister responsible for the Digital Strategy, Dominique Anglade.
"We see the positive economic impact of C2 Montréal 2015 revealed today as very good news for the metropolitan region of Montreal, and the province. The international business conference has once again demonstrated its valuable contribution to the dynamic Montreal business community, and C2 truly promotes the city on the national and the international stage by showcasing the creative talent in Montréal." - The Minister of Municipal affairs and Land Occupancy, Minister of Public Security and Minister responsible for the Montréal region, Martin Coiteux.
"The city of Montréal has partnered with C2 Montréal since the start because we recognize its importance in the promotion of our metropolis. This prestigious event, which brings together creativity and commerce, contributes to the positioning of Montréal as a vital creative hub on the international stage." – Denis Coderre, Mayor of Montréal.
"C2 Montréal takes great pride in those results! On top of being an incubator for ideas, the C2 international business conference is designed to create the type of connections that generate meaningful relationships and, in turn, good business. We noticed that the C2 community was particularly engaged during the event last year, and we are delighted to see that the numbers confirm our impressions", says Richard St-Pierre, President of C2 Montréal." - Richard St-Pierre, President of C2 Montréal. "Our entire team is thrilled with these numbers and continue to work hard to organize our Fifth Edition."
C2 Montréal: A business conference, only different
Each year, in a collaborative environment specifically designed to provoke collisions and spark new ideas, C2 Montréal inspires 5,000 decision makers across continents and industries to challenge their biases, shift their perspective and explore completely new ways of doing business. Imagined by Sid Lee in collaboration with founding partner Cirque du Soleil, these three days of talks, workshops, extreme brainstorming sessions, meet ups, performances and festivities have been described as "challenging conventions" by The Economist, and "a business conference unlike any other" by Harvard Business Review.
C2 Montréal will be presenting its fifth edition on May 24, 25 and 26, 2016, at Arsenal Contemporary art gallery in Montréal, Canada.
SOURCE C2 Montréal
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