New EIC Study Measures the Global Economic Significance of Business Events

The global business events industry generated $3.1 trillion in total business sales in 2025, contributed $1.8 trillion to global GDP, and supported 24.2 million jobs, according to the full “2026 Global Economic Significance of Business Events Study,” released by the Events Industry Council (EIC). The study was developed in partnership with Oxford Economics and supported by several industry partners, including Global Vision Sponsors PCMA, which publishes Convene, and the MPI Foundation.

The full 2026 report expands the study’s previously released executive summary and includes expanded analyses of global direct and indirect impact, regional- and country-level activity, workforce trends, and forecasts for future industry growth. It also includes insights related to the global events industry’s impact as a catalyst for new business opportunities, research collaboration, investment, and innovation.

Direct Spending Reaches $1.3 Trillion

In 2025, there were 1.65 billion participants in business events across more than 180 countries. North America led global direct spending with $487.7 billion, followed by Asia, $352.8 billion; Western Europe, $328 billion; Latin America and the Caribbean, $42.6 billion; Central and Eastern Europe, $34.1 billion; Africa, $25.8 billion; and the Middle East, $21.1 billion. Direct business event spending is forecast to grow at an average annual rate of 6.7 percent, reaching $1.6 trillion by 2028.

Corporate events in the lead
The top three event types in 2025, measured by direct spending, were corporate events, generating $566 billion (43.8 percent of total); conferences and congresses, $383.2 billion (29.7 percent); and trade shows, $178.5 billion (13.8 percent). Trailing these segments were incentive events at $86.6 billion (6.7 percent) and other events, at $77.8 billion (6 percent).

Trade Shows Deliver Significant Economic Impact

Trade shows attracted 318 million participants across more than 180 countries and generated $179 billion in direct spending. According to the report, trade-show activity supported $444 billion in business sales, contributed $256 billion to global GDP, and sustained 4.3 million jobs worldwide.

Mapping workforce trends
In 2025, the global business events industry directly supported 9.7 million jobs, according to the study. Direct employment is forecast to reach approximately 10.4 million jobs by 2028, within 4.1% of 2019 levels.

Measuring the Value of Events

The results of the “2026 Global Economic Significance of Business Events Study” 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. The business events sector not only supports extensive economic activity across hospitality, transportation, venues, production, technology, and professional services, but also enables “business relationships and knowledge exchange across industries,” Sacks said.

According to survey results published in the study, which asked respondents about the typical ROI of business meetings and events, respondents calculated that $11 in incremental revenue is generated for each $1 invested in attending or exhibiting at an event. Survey respondents also reported that 28% of revenue would be lost without participation in in-person events.

The full report also examines the broader catalytic effects of business events. When asked what results achieved through business meetings would be most difficult to replace, 70 percent of survey respondents named building relationships through face-to-face interaction. Respondents attributed 22 percent of new customer acquisition to participation in in-person events, underscoring the role meetings, conferences, and trade shows continue to play in business growth and relationship-building.

“Business events are a vital part of the infrastructure that supports economic growth, workforce development, innovation and global competitiveness,” said Amy Calvert, EIC’s president and CEO. “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.”

The full 2026 Global Economic Significance of Business Events Study is available for purchase from EIC for $395. Additional information is available on the Events Industry Council website.

Barbara Palmer is Convene’s deputy editor.