Convention Bureau as an Institution Reducing Transaction Costs in the Meetings Industry

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Purpose. The aim of this paper is to identify the transaction costs in the meetings industry and to state, howa convention bureau can reduce these costs. Methods. The analysis of the transaction costs in the meetings industry and the impact of the convention bureau on them was based on a review of literature. Findings. A onvention bureau mostly influences the market and public transaction costs as an institution forming an institutional arrangement and creating the institutional environment. The convention bureau has the strongest impact on reducing transaction costs at the first stage – before winning the right fo ar city to host a meeting and making transactions. Research and conclusions limitations. The findings were based on analysis of literature, therefore, the results require empirical verification. Practical implications. Identification of transaction costs will help to understand processes in the meetings industry and enable comparison of different institutional arrangements, considering the convention bureau’s activity. It is particularly important in Poland, where these institutions have been operating for a relatively short period of time, and their forms and actions have not yet been regulated by law. Originality. There are many publications considering transaction costs in tourism and none about this problem in the meetings industry. Therefore, this paper fills the the knowledge gap regarding the presented topic. Type of paper. A theoretical study.