Business Events Generate US$1.8 Trillion for Global GDP, Landmark EIC Study Reveals

Business events generated US$1.8 (€1.56) trillion in global GDP, supported 24.2 million jobs and produced US$3.1 (€2.69) trillion in business sales during 2025, according to the newly released 2026 Global Economic Significance of Business Events Study from the Events Industry Council (EIC) in partnership with Oxford Economics.

Positioned as the most comprehensive economic assessment of the sector to date, the 114-page report paints a picture of an industry whose contribution extends far beyond delegate spending, highlighting its role in fostering innovation, trade, workforce development and long-term economic competitiveness.

Drawing on data from more than 1,600 event organisers, venues, destination organisations and suppliers, alongside country-level economic impact studies and industry datasets from organisations including UFI and CEIR, the research examines activity across more than 180 countries using a methodology aligned with guidance from UN Tourism.

An industry powering the global economy

According to the study, business events attracted 1.65 billion participants worldwide in 2025 and generated US$1.3 (€1.13) trillion in direct spending. Once indirect and induced impacts are included, the industry's footprint expands to US$3.1 (€2.69) trillion in total business sales, US$1.8 trillion (€1.56 trillion) in GDP and 24.2 million jobs globally.

The report also underlines the sector's strong multiplier effect, estimating that every US$1 spent directly on business events generates an additional US$1.37 elsewhere in the economy, benefiting industries ranging from hospitality and aviation to technology, logistics and professional services.

"Business events are a vital part of the infrastructure that supports economic growth, workforce development, innovation and global competitiveness," said Amy Calvert, President and CEO of the Events Industry Council. "This report gives our industry credible, current evidence to demonstrate that value, while also helping us tell a more complete story about the knowledge, relationships, investment and long-term progress created through face-to-face engagement."

Stephanie Harris, Chair of the Events Industry Council Board of Directors and President of the Incentive Research Foundation, believes the report provides the industry with a powerful advocacy tool.

"This study gives every part of our global business events community a shared foundation for action," she said. "By bringing together credible data from markets around the world, it equips industry leaders to advocate with greater confidence, make stronger investment decisions and demonstrate how business events create lasting value for people, organisations and communities."

North America leads, while Asia moves into second place

Regionally, North America remained the world's largest business events market, generating US$487.7 (€424.3) billion in direct spending, equivalent to 37.8% of the global total.

However, the study also highlights the continued rise of Asia, which produced US$352.8 (€306.9) billion in direct spending, overtaking Western Europe, whose contribution reached US$328 (€285.4) billion.

Among event formats, corporate and business meetings represented the largest economic segment, accounting for US$566 (€492.4) billion in direct spending. They were followed by conventions, conferences and congresses at US$383.2 (€333.4) billion, while trade shows generated US$178.5 (€155.3) billion and incentive events contributed US$86.6 (€75.3) billion.
 

Trade shows deliver their own economic powerhouse

The report dedicates a separate section to trade exhibitions, underscoring their distinct contribution to the global economy.

In 2025, trade shows attracted 318 million participants across more than 180 countries, generating US$179 (€155.7) billion in direct spending.

Including indirect and induced effects, exhibitions were responsible for:

• US$444 (€386.3) billion in total business sales;
• US$256 (€222.7) billion in GDP;
• 4.3 million jobs worldwide.

The value of face-to-face goes beyond economics

While the headline figures demonstrate the industry's financial contribution, the study also examines what it describes as the "catalytic effects" of business events—the less tangible outcomes that underpin long-term business growth.

Survey findings suggest that 70% of respondents consider relationship-building through face-to-face meetings the hardest aspect to replace, while organisations estimate they would lose 28% of their revenue without participating in or exhibiting at in-person events.

Respondents also reported an average return of US$11 in incremental revenue for every US$1 invested in attending or exhibiting at business events, with 22% of new customers attributed directly to face-to-face participation.

Growth forecast continues through 2028

Oxford Economics expects the industry's momentum to continue over the coming years.

The study forecasts direct business event spending will reach US$1.6 trillion by 2028, representing an average annual growth rate of 6.7% from 2025 levels.

Direct employment is also projected to rise to approximately 10.4 million jobs, bringing the sector within 4.1% of its pre-pandemic 2019 employment levels.

"The results demonstrate both the scale of the sector today and its importance to future global growth," said Adam Sacks, President of Tourism Economics, an Oxford Economics company. "Business events support extensive economic activity across hospitality, transportation, venues, production, technology and professional services, while also enabling business relationships and knowledge exchange across industries."

Paul VanDeventer, President and CEO of MPI and Chair of the EIC Research and Advocacy Steering Committee, encouraged destinations, associations and event professionals to use the findings to strengthen industry advocacy.

"This research belongs to the entire global business events community," he said. "We encourage our members, partners, destinations, event professionals and business leaders to use these findings in their own advocacy, investment and stakeholder conversations. Data gives us credibility, and a unified voice gives us momentum."

Later this month, the Events Industry Council will publish regional reports and advocacy resources designed to help destinations and industry organisations translate the global findings into policy, stakeholder engagement and investment discussions.
 

The full, 114-page report is available for purchase for US$395 (€345) here. The Executive Summary is available here
 

Powered by Meeting Media Company, publisher of Headquarters Magazine (HQ) – a leading international publication based in Brussels, serving the global MICE industry and association community.