In a recent report entitled Leveraging Intellectual Capital, Montréal has been declare the city with the highest “harnessing ratio” in North America. The report, published by GainingEdge, highlights the intellectual capital of global destinations through extensive study of international associations data available on public platforms.
What is “intellectual capital”?
The world has faced serious challenges that have dramatically changed the business and social environment in recent years. The global pandemic has affected economic performance in every corner of the world and after an initial phase of adjustment there is a need to speed up recovery. A city’s ability to perform economically is directly correlated to its intellectual capital.
Intellectual capital is the value of human knowledge, skills, business training, or any proprietary information that may provide a competitive advantage. Often the term is used in reference to corporate success, but the term can also be applied to the resources require for solving collective global challenges, such as climate change.
What is “harnessing ratio”?
Montréal has been recognized for its strong harnessing ratio. The “harnessing ratio” of a city is based on the assumption that cities with more leaders active on boards of international associations will engage these leaders to bring more meetings to the city. It is estimated that the average term on boards lasts for four years, so in that period, these leaders are in a position to promote their own city as a potential convention host, and also able to influence the selection of future meeting host destinations. In short, if a city has a larger amount of active board members, it has a larger harnessing ratio.
Montréal punches above its weight category, intellectually speaking. This what the Leveraging Intellectual Capital report had to say about Montréal:
“With 129 large international conventions already hosted or booked since January 2018, the city has the highest Harnessing Ratio (at 77.2%) among North American destinations. This result indicates a very sophisticated local industry and strong destination competitiveness - the city is ranked as 29th most competitive globally in our latest Destination Competitive Index.”
The Montréal convention centre recognizes its partners
Another way that Montréal successfully optimizes intellectual capital is through strong relationships and relationship-base programs; we’re a city that values, recognizes, and rewards local champions. Members of the Palais des congrès’s Ambassadors Club, for instance, are valued partners who play a vital role in the promotion of both Montréal and their respective professional fields. With a unique combination of personal, professional, and strategic talents, the Ambassadors are unrivalled in their ability to inspire their peers — and bring events to Montréal.
Read this next: Hosting sustainable events in Montréal: An introduction