This spend figure is a 12.2 per cent rise on the same figure from 2019. Collective participants in business events around the world were found to be 1.65 billon last year, also up on pre-pandemic levels, although only by one per cent.
The 2026 Global Economic Significance of Business Events Report from EIC was completed in partnership with Oxford Economics, with support from a variety of business events industry stakeholders.
According to the report, spending as a result of business events – including the cost of delivering events and to attend them – made the sector a bigger spender than both the air transport and aerospace industries, as well as a variety of other manufacturing related sectors.
When looking at a broader spending profile, including indirect and induced spending, alongside direct spend, the research and analysis behind the report determined a US$3.1 trillion spend could be attributed to the business events industry.
Direct GDP from the business events sector was found to be US$759 billion, while total GDP came to US$1.8 trillion. The report also found that business events directly supported 9.7 million jobs around the world.
“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,” said EIC president and CEO, Amy Calvert.
“Business events are essential infrastructure for a connected, innovative and resilient global economy.”
The research draws on a variety of sources, including a primary survey of 1,600 business events stakeholders from around the world, industry data from secondary sources, studies completed at a country level, data from the EIC’s Global Business Events Barometer and Oxford Economics’ business travel and economic forecasts.
Oxford Economics predicts that direct spend generated by business events will climb to US$1.6 trillion by 2028, with a further 700,000 people employed in the industry.
“Business events have demonstrated remarkable resilience and continued relevance in a complex global environment,” said Oxford Economics president of Tourism Economics, Adam Sacks.
“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.”
EIC chair, Stephanie Harris – also chair of the Incentive Research Foundation – said the research was an important advocacy tool for the business events sector.
“It helps destinations, venues, organisers, suppliers, associations and corporate leaders tell a stronger, more unified story about the role business events play in job creation, workforce development, innovation and long-term economic growth.
“The data reinforces that our sector is not discretionary – it is a driver of progress.”
While spend and event participation were up on pre-COVID levels, EIC’s Global Barometer research for the final quarter of 2025 showed that not all metrics have fully recovered post-pandemic.
While RFP activity was 102 per cent of 2019 levels, hotel group room nights were 97 per cent of what they were pre-COVID.
