The study reported 28% of revenue would be lost without hosting in-person events. Photo Credit: iStock/jotily
Business events generated US$1.3 trillion in direct spending globally in 2025 – surpassing the economic output of several major industries, including aerospace, textiles, telecommunications equipment and air transport, according to new research.
Produced by the Events Industry Council (EIC) with Oxford Economics, the 2026 Global Economic Significance of Business Events Study Executive Summary measured the scale, scope and impact of global business events across over 180 countries.
The study found that business events attracted 1.65 billion participants worldwide in 2025 and generated US$1.3 trillion in direct business sales – 12.2% higher than pre-pandemic levels in 2019.
The sector also contributed US$759 billion in direct GDP and supported 9.7 million direct jobs globally last year. On average, business event activity generated US$785 in direct business sales per participant, while trade shows alone accounted for US$180 billion in direct spending.
The industry’s steady recovery momentum has also continued post-pandemic – and a big part goes to the industry's perceived value of face-to-face engagement, which remains the event outcome that is most difficult to replace (70%).
Respondents added that 28% of revenue would be lost without hosting in-person events. Other reported factors were community, trust and emotional engagement (12%).
By 4Q 2025, EIC’s Global Business Events Barometer recorded RFP activity at 102% of 2019 levels, while hotel group room nights recovered to 97% of pre-pandemic figures. Looking ahead, 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.
EIC said that this research confirms what they have long known: the long-term economic significance of business events.
“Business events are essential infrastructure for a connected, innovative and resilient global economy,” said Amy Calvert, president and CEO, Events Industry Council. “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.”
Stephanie Harris, EIC chair and president, The Incentive Research Foundation added that the research serves as “an important advocacy tool” for the industry's narrative around 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," Harris said.
The global study defines business events as gatherings of 10 or more participants for a minimum of four hours in a contracted venue, excluding social, formal educational and recreational activities. Over 1,600 event organisers, venues, destination marketing organisations, suppliers and other industry participants participated in the research.