Global Economic Significance of Business Events

In collaboration with 

The business events industry serves a critical role in driving economic and social progress. Events are a catalyst for meaningful change. Across industry sectors, organisations and individuals all gain in ways that are fundamental to advancement, innovation and adaptation to a changing world.

Since 2017, the Events Industry Council has partnered with Oxford Economics to conduct a study on the global economic significance of business events. This is unprecedented research that could only be accomplished through the collaborative efforts of the public and private sectors to qualify the value, influence, and impact that business events produce throughout the world. It further enables this dynamic industry to benchmark its current contributions and track its future growth.

The data in this study provide a clear and credible statistical base on which to gain recognition for this vast and diverse industry as a vital economic driver and clearly articulates the downstream benefits to other industries and the people who work in them. 

The quarterly EIC Global Barometer developed as part of this research provides a timely measure of events activity by global region. 

2023 Global Economic Significance of Business Events Study

For the 2023 Global Economic Significance of Business Events study, EIC, in partnership with Oxford Economics, built a comprehensive study to evaluate the full scope and economic significance of the $1.6 trillion USD global business events industry. Beyond better understanding pre-pandemic benchmarks and 2020 losses, the extensive research analysis across 50 countries includes the important “catalytic” effects or wide-reaching benefits of business events.

Results of existing economic impact studies were integrated to model global business events volume and direct spending in 2019, from which estimates from 2020 through 2025 were generated. 

An Executive Summary for the 2023 Study is available below. Access to the full report is available to EIC members, partners and research funders for free by contacting info@eventscouncil.org. Access to the full report is also available for purchase below. 

The 2023 study was made possible by generous support from our partners: ADMEI, AHLA, ASAE, Caesars Entertainment, Fairmont, Freeman, IACC, IAEE, IMEX Group, IRF, Los Angeles Tourism, Maritz Global Events, MCI, MGM, MPI, Northstar, New York City Tourism + Conventions, Omni Hotels & Resorts, PCMA, RCMA, SISO, SITE, U.S. Travel Association

Access to the Full Report can be purchased for US $295. Please note that the full report is only accessible online and cannot be downloaded.

Global Events Barometers

Click on the covers below to view our Global Events Barometers, which showcase trends in the Business Events Economy.

         

 

Past Global Economic Significance Studies

2018 Global Economic Significance of Business Events

2016 U.S. Economic Significance Study

2012 U.S. Economic Significance Study

2009 U.S. Economic Significance Study

 

Special thanks to the EIC Advocacy and Research Committee:
 

Cathy Breden, CMP, CAE, International Association of Exhibitions and Events, Center for Exhibition Industry Research
Martin Boyle, The International Association of Professional Congress Organisers
Nancy Drapeau, IPC, Center for Exhibition Industry Research
Jennifer Glynn, CIS, Society for Incentive Travel Excellence
Senthil Gopinath, International Congress and Convention Association
Stephanie Harris, The Incentive Research Foundation

Thank You to our Partners

 

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