GainingEdge has launched its second annual report on Leveraging Intellectual Capital of convention destinations, based on its analysis of international association leadership.
The report found a very high level of correlation between GainingEdge’s intellectual capital rankings and their International Convention Destination Competitive Index 2021 global rankings. The top 20 cities in terms of intellectual capital are all among the top 30 most competitive destinations in the said Competitiveness Index.
“Our research shows London again at the top, followed by Paris, Tokyo, with Beijing surpassing New York this year, indicating once again that these cities are true global knowledge hubs with strong influence in international associations,” said Milos Milovanovic, Head of GainingEdge Analysis and Research.
“These five cities are key global knowledge hubs which concentrate over 10% of the total available intellectual capital, with 2,756 local leaders active.”
In addition, destinations that experienced the greatest increase in the influence of their local leaders on boards compared to the previous year are Sydney with its leaders active in 46 additional boards, followed by Kuala Lumpur and Singapore (with +34 more each) and Seoul (+28).
The research also showed how well destinations leverage their local leaders by engaging them to bring conventions to the city. A destination’s “Harnessing Ratio” was measured by correlating the number of international association meetings hosted or booked over the last four years (2018-2021) and number of local intellectual leaders on boards of international associations.
The report found that among the top 50 cities, three European destinations led with the highest Harnessing Ratios: Prague (highest in the world at 95%), Dublin and Lisbon. In the Asia-Pacific region, Bangkok stands out as the Asia-Pacific destination with the highest Harnessing Ratio.
“We see Intellectual Capital Engagement as a key to success for a meetings destination,” said Jon Sivertson, GainingEdge’s CEO.
“Cities need to explore who are their local leaders with a strong international reputation, and how to engage them.”