Four-to five-day forums can generate 1-2 months’ worth of revenue for local businesses

Four-to five-day forums can generate 1-2 months’ worth of revenue for local businesses Hosting forums generates additional revenue for restaurants, transport and hotel companies, as well as other small and medium-sized businesses, Anton Kobyakov notedMOSCOW, August 21. /TASS/. Forums lasting 4-5 days can provide local businesses with 1-2 months of revenue, Anton Kobyakov, Adviser to the Russian President, Executive Secretary of the Eastern Economic Forum’s (EEF) Organizing Committee, said in an interview with TASS ahead of the event. "The cream of the country’s small, medium, and large business sectors, along with government officials and foreign guests, descend on the forum’s host city for 4-5 days. For local businesses these 4-5 days sometimes generate revenue equivalent to 1-2 months’ worth," he said. Hosting forums generates additional revenue for restaurants, transport and hotel companies, as well as other small and medium-sized businesses, Kobyakov noted, adding that regional authorities improve urban areas and prepare cities to welcome guests. "In other words, a region or city should understand why it needs the forum and what benefits it offers. Geography matters, too, of course. It would be odd, for instance, to host an Eastern forum in St. Petersburg or an Arctic forum in Sochi," he stressed. Overall, many cities with experience in organizing major international events are potentially ready to host forums, according to the official. The Eastern Economic Forum will be held September 1-4 in Vladivostok on the campus of the Far Eastern Federal University. The main theme of this year’s EEF is "The Far East: Development for the Benefit of People." The event is organized by the Roscongress Foundation with the support of the Russian government. TASS is its general information partner. 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