Business Events Are the 'Invisible Industry' Behind $1.3 Trillion in Sales 

The just-released 2026 Economic Significance of Business Events study by the Events Industry Council found that what’s often referred to as the “invisible industry” — a term coined by Charles Osgood in a 1996 documentary to describe what he called “an industry that no one thinks about, let alone thinks about as an industry” — supports 24.2 million jobs and contributes $3.1 trillion in total business sales to the global economy.

"If one things from this and other studies is clear, the meetings and trade show industry is bigger than anyone ever imagined, said Larry Kulchawik, co-author of The Invisible Industry: The Evolution of Trade Shows. "Meetings and conventions contribute to local economies with travel, hotel, restaurants, employment, and more. The economic impact goes far beyond the trade show or event alone."

The EIC has partnered with Oxford Economics since 2017 to conduct the study, with the last iteration in 2023.

Here are five key takeaways from the new Economic Significance of Business Events study:

1. The size and spend of the business events industry has now exceeded 2019 levels.

Participants at business events across more than 180 countries in 2025 totaled 1.65 billion participants, up 1% from 2019. The total spend of $1.3 trillion to plan and produce business events, business events-related travel, and other direct spending, such as spending by exhibitors, is up 12.2% from 2019.

The 2023 survey pegged the industry spend at $1.6 trillion, but researchers used 2019 as the baseline to measure the total economic significance of the industry before the disruption of Covid.

2. The total economic impact of business events is equivalent to that of a large country.

Business events generated $3.1 trillion in total business sales globally in 2025, including direct, indirect, and induced activity, and supported 9.7 million direct jobs (24.2 million total jobs) globally in 2025. The $1.8 trillion in GDP generated by global business events would rank the sector as the world's 16th-largest economy — if it were a country.

3. Event sales surpass those of most industries.

The business events sector directly generated more direct sales (business sales) than many large global sectors, including air transport, telecommunication equipment, and aerospace.

4. The size of the industry will only continue to grow.

The report projects that by 2028, direct spending on business events will grow to $1.6 trillion from $1.3 trillion, and create 10.4 million direct jobs, up from 9.7 million.

5. North America accounts for the highest direct spend of all regions.

With $488 billion in direct spend, North America has the most economic activity, followed by Asia Pacific at $353 billion and Europe at $328 billion.

The survey was conducted from March to April 2026 and included 1,605 respondents. See the complete results here.