Assessment of the Contribution of Exhibition and Convention Activity in the Socio-economic Development of Saint Petersburg

In the state programs of economic development of many countries, including the Russian Federation, the exhibition and convention activity are in priority positions due to their large potential impact on many related industries, in particular, on the employment of the population, ensuring strategic partnership between various entities and the promotion of innovative goods, products and services. The city of St. Petersburg, being a city of federal significance and a city with a population of one million, has established itself as a large and versatile platform where annually flows of specialists from different fields meet, sign agreements for multi-million sums and determine the directions for further development of the region and the state in cooperation with both domestic and foreign representatives of business, society, and authorities. Naturally, rapid development requires significant resources and investments to achieve the targets outlined in the relevant state programs, and therefore the question is necessarily raised about the feasibility of such a volume of spending on the implementation of congress and exhibition activities, especially in the context of a decline in most economic indicators in the country and the need for a direct assessment of its contribution to the development of the territory. The purpose of this work is to analyze the contribution of congress and exhibition activities to the socio-economic development of the city of St. Petersburg. Tasks: 1. To study the theoretical foundations of the exhibition and convention activity; 2. Determine the role of business tourism in the structure of the Russian economy; 3. Indicate the current situation and directions of development of the exhibition and convention activity in St. Petersburg; 4. Consider methodological approaches to assessing the contribution of the exhibition and congress events; 5. Evaluate the economic and social impact of holding congress and exhibition events in St. Petersburg on the example of the St. Petersburg International Cultural Forum; 6. Develop recommendations for improving the practice in order to increase its effectiveness. In the practical part of the work, the direct economic effect of the St. Petersburg International Cultural Forum on the economy of St. Petersburg was calculated based on the formula of costs and revenues, which are manifested in the receipts to the country's economy from the expenses of the participants of the event. The social impact assessment was based on the results of a survey conducted among the participants of the St. Petersburg International Cultural Forum as one of the leading and largest in terms of the scale of the event and the number of participants in the city. In the course of writing the work, we have also identified the negative effects of the exhibition and convention activity for the destination, as well as the weaknesses of the industry in St. Petersburg, which should be taken into consideration by the relevant structures for its further development. Recommendations have been developed to facilitate the improvement of the practice.