The global Business Events industry generated an estimated US$1.3 trillion in direct spending in 2025, according to new research from the Events Industry Council (EIC) and Oxford Economics. The figure surpasses the economic output of several major industries, including aerospace, textiles, telecommunications equipment, and air transport.

The findings were published in the 2026 Global Economic Significance of Business Events Study Executive Summary, which analysed the scale and economic impact of business events across more than 180 countries. The report highlights the industry’s continued recovery and growing global significance following the pandemic.

According to the study, Business Events attracted approximately 1.65 billion participants worldwide in 2025 and generated US$1.3 trillion in direct business sales — an increase of 12.2 per cent compared to pre-pandemic levels in 2019. The sector also contributed US$759 billion in direct GDP and supported 9.7 million direct jobs globally.

On average, each participant generated US$785 in direct business sales, while trade shows alone accounted for US$180 billion in spending. The report also revealed that face-to-face engagement remains one of the industry’s most valuable assets, with 70 per cent of respondents identifying in-person interaction as the hardest aspect of events to replace digitally.

In addition, respondents stated that businesses could lose up to 28 per cent of revenue without hosting in-person events, while factors such as trust-building, emotional engagement, and community connection continue to drive demand for physical gatherings.

The industry’s recovery momentum has also strengthened significantly. By the fourth quarter of 2025, EIC’s Global Business Events Barometer showed Request for Proposal (RFP) activity reaching 102 per cent of 2019 levels, while hotel group room nights recovered to 97 per cent of pre-pandemic figures.

Looking ahead, Oxford Economics forecasts that direct spending generated by Business Events will rise to US$1.6 trillion by 2028, supporting more than 10.4 million jobs worldwide. The research reinforces the growing recognition of Business Events as a critical driver of economic growth, innovation, knowledge exchange, and global collaboration.

Source: M&C Asia