The Events Industry Council’s (EIC) 2026 Global Economic Significance of Business Events Study positions business events not simply as a hospitality or tourism activity, but as critical infrastructure for economic growth, workforce development, innovation, investment, knowledge transfer and business performance, according to Kevin Kirby, executive director of the MPI Foundation, a Global Visionary Sponsor of the study, along with PCMA.
“It provides powerful new data for industry advocacy, stakeholder engagement, public policy discussions and investment justification,” Kirby says. “With that framework of the recent findings, it’s critical for financial markets, governmental agencies and our entire industry ecosystem to understand how impactful business events are to economies and business success.”
Since the first report in 2017, the EIC and partner Oxford Economics offered comprehensive analysis of the scale, scope and impact of business events, measuring activity across more than 180 countries.
Key findings from new report:
- In 2025, business events brought together 1.65 billion participants globally and generated US$1.3 trillion in direct spending—12.2% above 2019 levels.
- Including direct, indirect and induced impacts, the sector supported US$3.1 trillion in total business sales.
- Business events contributed US$1.8 trillion to global GDP and supported 24.2 million jobs worldwide.
- The sector generated a total economic impact of US$4.44 trillion, including the catalytic value created through business opportunities, knowledge exchange, innovation and long-term professional relationships.
Kirby says it’s important for the Foundation to partner with EIC on the study in the spirit of collaboration.
“We recognize that there are dozens of enterprises that make one event come to fruition and dozens that benefit from the existence of that event,” he says. “Every member of the EIC and, for that matter, the global hospitality and tourism sector is impacted by business events… daily. No single organization can pursue this endeavor alone.”
The MPI Foundation represents a global professional support system, according to Kirby.
“Annually, our Global Board of Trustees rally to provide financial support to raise the bar on education, professionalism, industry research, workforce development and service,” he says. “We need to understand the value of our industry. We cannot take it for granted because if we don’t invest, no one will.”
Read more and download the full study and learn more about the MPI Foundation’s mission and how you can help make a difference.
