Business Events Drive $1.3 Trillion in Global Spending
The events sector currently sustains 24.2 million jobs worldwide, with future event planning now exceeding 2019 levels.
Updated on Oct. 23, 2026 in Economic Indicators
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The Events Industry Council reported that global business events generated US$1.3 trillion in direct spending during 2025. This activity supported 24.2 million jobs and contributed US$1.8 trillion to the global economy.
Why it matters
The sector's growth reflects its role as a key driver of international business sales and workforce stability. By tracking RFP activity, which is now at 113% of 2019 levels, industry leaders can gauge shifting corporate demand for travel and in-person professional gatherings.
The sector saw 1.65 billion participants in 2025, with direct spending hitting US$1.3 trillion. These figures represent a robust rebound for the industry, though hotel room demand currently tracks at 92% of 2019 levels.
The players
Events Industry Council
An international organization that develops industry standards and advocates for the economic interests of the global meetings and events sector.
Oxford Economics
A global advisory firm that provides economic forecasting and analysis used to shape industry and policy reports.
The details
Business events function as an economic engine by circulating capital through hospitality, logistics, and professional services. As RFP activity climbs to 113% of 2019 levels, the data signals that companies are booking future conferences at a higher frequency than before the pandemic. This increase in planning activity directly supports global employment, currently sustaining 24.2 million jobs, by creating sustained demand for venue staffing and event services.
Timeline
In 2025, business events hosted 1.65 billion participants worldwide.
The Events Industry Council released its Q2 2026 Global Business Events Barometer.
Global Meetings Industry Day is scheduled for April 6, 2027.
Money Landscape
The global business events sector is currently operating above its 2019 benchmark in terms of future planning volume. This trend suggests a structural shift toward in-person engagement despite hotel demand still trailing 2019 levels.
Increased corporate event planning activity may signal rising costs for business travelers, particularly in major hubs where RFP volume exceeds pre-pandemic demand. Households dependent on the hospitality and events labor market may see improved job stability as global spending remains strong.
The takeaway
The events industry is currently driving significant global GDP growth and labor market demand. Financial decision-makers should monitor the gap between rising RFP volumes and hotel room demand as an indicator of potential price volatility in corporate travel budgets.
What happens next
The industry will release its 2027 Futures Landscape Study on April 6, 2027.
Further reading
For broader trends in industry performance, see the latest updates in Economic Indicators.
Source note: This article includes information reported by TravelDailyNews International.
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