The Impact Of The Event Industry On The Economy

We came across some BIG numbers from The Events Industry Council and although these numbers don’t directly reflect on the current COVID-19 theme of this page, what they do indicate is the scale and importance of the events industry around the world.

Over the last few months we’ve taken a very big side step and allowed some time and space to absorb the challenges to our ability to deliver on our business offering. It’s been a hard time, but understandably necessary. It’s also been a gracious lesson in humility and an opportunity to think outside of the box.

That said, it’s inspiring and reassuring to see just how impactful and of value events in the world around us. The Oxford Economics, a leader in in global forecasting and quantitative analysis has shared the following findings:

  • 1.5 billion people worldwide participate in business events annually
  • $2.5 trillion (USD) in direct and indirect spending as a result of business events
  • $1.5 trillion (USD) in global GDP contribution
  • 26 million people have direct or indirect jobs in this industry
  • 704 (USD) average spending by business events participants

We may be in a holding pattern at the moment but we’re a part of an industry that has incredible financial and social relevance.

We’ll all be back. It’s just a matter of time. Watch this space!

If you’d like to see the article follow the link here.

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