The international business events sector now generates more direct economic output than industries including aerospace, air transport and telecommunications equipment manufacturing, according to major new research released by the Events Industry Council.
The 2026 Global Economic Significance of Business Events Study, produced in partnership with Oxford Economics, found that business events generated US$1.3 trillion in direct spending worldwide in 2025 - 12.2 per cent higher than pre-pandemic 2019 levels.
Including indirect and induced impacts, the sector supported US$3.1 trillion in total business sales, US$1.8 trillion in GDP and 24.2 million jobs globally.
According to the report, business events brought together 1.65 billion participants across more than 180 countries last year, underlining the sector’s growing economic influence as governments and destinations increasingly compete for international meetings, exhibitions and congresses.
Amy Calvert, president and CEO of the Events Industry Council, said the findings reinforce the industry’s role as a critical economic driver rather than a discretionary activity.
“Business events are essential infrastructure for a connected, innovative and resilient global economy,” she said.
“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.”
The report arrives at a time when the global events sector is increasingly positioning itself as central to economic growth, innovation and international trade - particularly as governments debate tourism taxes, business travel policy and the long-term impact of AI on corporate travel.
The research found that business events directly supported 9.7 million jobs worldwide in 2025, while trade shows alone generated US$180 billion in direct spending.
The study also highlighted the continued importance of face-to-face engagement despite rapid advances in digital communication and AI technologies.
Seventy per cent of respondents identified relationship-building through in-person interaction as the event outcome most difficult to replicate digitally, while 28 per cent said revenue would be lost without hosting physical events.
Stephanie Harris, chair of the Events Industry Council and president of the Incentive Research Foundation, said the research gives the industry stronger advocacy tools at a crucial moment.
This research is an important advocacy tool for every sector of our industry,” she said. “The data reinforces that our sector is not discretionary; it is a driver of progress.”
The report also suggested the global business events sector has now largely recovered from the pandemic downturn.
By the fourth quarter of 2025, the EIC Global Business Events Barometer showed RFP activity had reached 102 per cent of 2019 levels, while hotel group room nights recovered to 97 per cent of pre-pandemic levels.
Adam Sacks said the findings demonstrated both the resilience and broader economic value of live events.
“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,” he said.
Oxford Economics forecasts that direct spending linked to business events will rise further to US$1.6 trillion by 2028.
