Business Events Industry
Adds Over $1T to Global GDP
The Events Industry Council (EIC) released the final results of the Global Economic Significance of Business Events report, the first worldwide study on the economic importance of face-to-face business meetings and events.
The findings show that business events generated $621.4 billion
(U.S.) of direct GDP (gross domestic product) and contributed a
total global GDP impact of over $1 trillion. This ranks the sector as
the 14th largest in the world.
“For the first time our industry is able to prove just how formidable an economic engine business events are globally. This
study enables everyone involved in bringing people together for
meaningful face-to-face interactions to show their true value and
substantial contributions to growth and opportunity” said Cathy
Breden, chair of the EIC’s Research Committee.
The report was conducted by Oxford Economics with collaboration between the EIC and its partners, IMEX, Hilton, the MPI
Foundation and the PCMA Education Foundation.
Number of participants: Business events involved more than 1.5
billion participants across more than 180 countries.
Direct spending: Business events generated more than $1.07 tril-
lion (U.S.) of direct spending, representing spending to plan and
produce business events, business events-related travel and other
direct spending, such as spending by exhibitors.
Direct GDP and employment: Business events supported 10. 3
million direct jobs globally and generated $621.4 billion of direct GDP.
Average spending per participant: On average, $704 was spent
per business event participant.
Top countries: The top 50 countries accounted for $1.03 trillion
of business events direct spending, representing 96 percent of the
Prior country-level studies: Previous country-level analyses of
business events activity accounted for almost two-thirds of the
estimated global total, providing a solid research foundation.
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Be inspired by our community spirit and setting as a great spot for meetings. You’ll find plenty to do
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We’ve made a comeback.
Now plan yours.
By Kate Cripe
■ North America
■ Western Europe
■ Latin America & the Caribbean
■ Central and Eastern Europe
■ Middle East
Total GDP impact
by region (in billions,
$32 $24 $14