A new study has unveiled the immense scope, scale and impact
of business events worldwide as it reveals they generated $1.3 trillion in direct
spend last year.
The 12% rise in direct spend in six years – the result of
1.65 billion people meeting in 180 countries - was higher than that of many
other large sectors, including manufacturing and air transport, according to report
creator, the Event Industry Council (EIC).
The 2026 Global Economic Significance of Business Events
Study, produced by the EIC in association with Oxford Economics, also found that
business events generated $759 billion in direct GDP and
supported 9.7 million direct jobs globally in 2025.
Direct business sales supported by business event activity
averaged $785 per participant, while trade shows directly supported $180
billion in spending.
The study, which defines business events as gatherings of 10
or more participants for a minimum of four hours in a contracted venue, also
captures the continued recovery and future outlook for the sector.
By the fourth quarter of 2025, EIC’s Global Business Events
Barometer showed RFP activity at 102 per cent of 2019 levels and hotel
group room nights at 97% of 2019 levels, indicating that global business events
activity has recovered near pre-pandemic levels.
Oxford Economics forecasts that direct spending attributable
to business events will reach US$1.6 trillion by 2028, with direct
employment reaching 10.4 million jobs.
“Business events have demonstrated remarkable resilience and
continued relevance in a complex global environment,” said Adam Sacks, president
of Tourism Economics for Oxford Economics.
“The findings show not only the magnitude of direct spending
and employment, but also the broader economic ripple effects created through
supply chains, wages and local communities. The sector’s catalytic value,
including business development, innovation, research collaboration and
knowledge transfer, further underscores why business events matter to economies
and societies around the world.”
The report also highlights the catalytic effects of business
events, including new business opportunities, customer leads, partnerships,
professional development, knowledge transfer, research and development,
innovation, health and technical advances, human and organisational capital,
and productivity gains.
According to the 1,600 event professionals surveyed, the value of face-to-face
engagement remains difficult to replace, with 70% claiming face-to0face interaction was difficult to replicate . Respondents also reported that participation in in-person
events increased awareness by an average of 37%, while 28% of revenue would be
lost without hosting in-person events.
“Business events are essential infrastructure for a
connected, innovative and resilient global economy,” said EIC president and CEO
Amy Calvert.
“This study gives our industry credible, current data to
demonstrate what we have long known: when people gather with purpose, they
create economic value, strengthen communities, accelerate knowledge exchange
and build the trust required to move ideas into action.”
Emma has been a journalist for over 20 years, with experience working in both local and trade media. After reporting on the fast-paced world of hospitality for many years, Emma is enjoying this transition into the equally exciting world of events to cover Holly Patrick’s role on AMI and M&IT while she takes her maternity leave.
