New study shows business events inject more than $1 trillion into the global economy

During IMEX America, the Events Industry Council (EIC) announced preliminary results of an unprecedented worldwide study on the economic significance of face-to-face business events.

The Global Economic Significance of Business Events, conducted by Oxford Economics is the first-ever comprehensive study on the impact of business events. The research was made possible by a ground-breaking industry collaboration with the EIC in partnership with IMEX, Hilton, the MPI Foundation and the PCMA Education Foundation.

The trillion-dollar (USD) outlay reflects the direct spending attributed to planning, producing, attending and/or hosting business events which include meetings, conferences, conventions, exhibitions and incentive travel. As a commercial engine, this would rank the business events sector alongside consumer electronics in terms of size and scope.

"IMEX America, which brings together more than 13,000 of the industry’s leading decision-makers and influencers, is the ideal place to share the powerful effect business events have – economically, socially and culturally," said Tina Wehmeir, CMP, CAE, Chair, Events Industry Council. "This research will be a critical tool in demonstrating why business events are key to growth and development in every corner of the world."