In-Country Value (ICV)

The concept of In-Country Value (ICV) refers to the percentage of products and services that are provided locally in any sector or industry. In the context of the exhibitions and conferences sector, locally added value reflects the impact of this sector on the local economy through local components such as services, products, labor, and other resources.

To clarify how the exhibitions and conferences sector impacts locally added value, the following aspects can be considered:

Local labor: This includes employing local individuals in organizing exhibitions and conferences, such as staff in technical support, marketing, organization, and administration.

Local services: Many exhibitions and conferences depend on local services such as transportation (local travel), hotels, restaurants, and logistics services, which boosts the local economy.

Local sourcing: Organizing exhibitions relies on many local materials and resources, such as display tools, technical equipment, and decorations.

Local spending: Organizers and visitors to exhibitions and conferences usually spend on hotels, restaurants, and local services, contributing to the region's economic activity.

Local economic stimulation: By attracting international companies and visitors, the exhibitions and conferences sector can enhance local trade and increase business opportunities.