Business events are increasingly being recognised as strategic drivers of economic development, international cooperation and knowledge exchange, extending their value beyond traditional measures such as visitor spending, hotel occupancy and delegate numbers.
According to the American Express Global Meetings and Events
Forecast 2026, 85% of meeting professionals are optimistic about the year
ahead, the highest level recorded in five years.
Meanwhile, 77% of event professionals expect attendance to
match or exceed pre-pandemic levels in 2026.
However, 71% anticipate higher costs per attendee,
highlighting the challenge of meeting growing demand for in-person engagement
amid economic pressures.
Despite these challenges, the business events industry
continues to demonstrate resilience.
Its importance extends beyond generating immediate revenue
for destinations, supporting the relationships, knowledge sharing and
cross-border partnerships needed for economies and communities to adapt and
grow.
As geopolitical tensions, economic uncertainty and
technological disruption reshape international cooperation, industry
stakeholders are increasingly being encouraged to recognise connection itself
as an economic asset.
Business events support economic development
Business events can deliver substantial benefits to
destinations through accommodation, hospitality, transport and retail spending.
Their longer-term contribution, however, often lies in the infrastructure,
international networks and economic opportunities they help establish.
Rwanda provides an example of how business events can
support a broader national development strategy. Investment in the Kigali
Convention Centre, transport connectivity, hospitality and related
infrastructure has helped establish Kigali as a regional hub for international
conferences and business gatherings.
In 2025, Rwanda’s business events sector generated US$94.7
million, an 11% increase on the previous year. Beyond this direct contribution,
the sector has helped strengthen the country’s international profile and create
conditions for wider economic activity.
Dubai has similarly invested in becoming a global business
events destination, recognising that international meetings can stimulate
knowledge development, innovation and commercial relationships alongside
visitor expenditure.
For destinations seeking to diversify their economies,
business events can also attract international attention to locations beyond
established leisure tourism markets. Conferences, association meetings and
incentive travel programmes can generate demand for air connections,
accommodation, hospitality and local experiences, creating opportunities for
businesses and communities.
Infrastructure developed to support these events, including
airports, hotels and transport networks, can provide lasting benefits long
after delegates depart. Improved connectivity, workforce skills, international
relationships and a demonstrated capacity to host major gatherings can all
strengthen a destination’s competitiveness.
Measuring the value of connections
Traditional industry performance indicators, including room
nights, delegate spending and economic contribution, remain important. However,
a broader approach could assess how many relationships events establish, how
much knowledge they share, which partnerships emerge and whether they stimulate
investment or innovation.
Knowledge exchange is a particularly important part of this
contribution. Business events provide opportunities for professionals to test
ideas, exchange expertise and accelerate the spread of developments across
industries and countries.
A medical conference, for example, generates economic
activity through accommodation, restaurants and transport. Yet its lasting
value may be reflected in research partnerships, investment in new treatments,
collaboration between institutions or opportunities for early-career
scientists.
Bringing researchers, clinicians, policymakers and
businesses together can also accelerate the transfer of knowledge between
countries, potentially supporting scientific advances and improvements in
healthcare.
These outcomes are more difficult to quantify than immediate
visitor expenditure, but they may deliver substantial long-term benefits.
Assessing the impact of business events therefore requires greater attention to
what happens after participants return home.
Strengthening soft power and international positioning
Business events can also support nation branding and soft
power, helping destinations build international credibility, strengthen
commercial relationships and improve their standing in global markets.
Hosting a technology conference, for example, can reinforce
a city’s reputation as an innovation centre, connect businesses with talent,
expose policymakers to emerging developments and attract future investment.
Abu Dhabi has linked its business events strategy to its
wider Economic Vision 2030, evaluating prospective events not only by visitor
numbers but also by their potential economic, social and cultural impact.
This approach reflects a shift towards selecting events
according to the long-term objectives they can support, rather than focusing
exclusively on attendance and immediate revenue.
As destinations compete for international investment, talent
and business opportunities, events can provide platforms for showcasing local
capabilities, facilitating partnerships and building relationships with global
industries.
Building meaningful and sustainable legacies
Realising these benefits requires a deliberate approach. Not
every event automatically generates lasting economic or social value, and
growth should not be pursued without considering its wider consequences.
The industry must address the environmental impact of
international travel, barriers created by visa requirements and affordability,
and whether particular gatherings deliver benefits that cannot be achieved
through alternative formats.
Organisers and destinations should establish clear
objectives before events take place and assess their outcomes afterwards. This
could include tracking partnerships formed, investments secured, research
collaborations initiated, skills developed and opportunities created for local
businesses.
Such measures would complement traditional economic
indicators while providing a more comprehensive picture of an event’s
contribution.
The challenges facing international cooperation, including
geopolitical tensions, economic uncertainty, climate pressures and
technological change, are likely to continue. These conditions make
opportunities for direct engagement, shared learning and collaboration
increasingly important.
The business events industry has traditionally measured
success through the people it attracts, the nights they stay and the money they
spend. Those indicators remain relevant, but they capture only part of the
picture.
The wider opportunity is to measure what happens next: the
relationships established, the ideas shared, the investment generated and the
collaborations that cross borders.
In an increasingly fragmented world, business events can
serve as more than economic activities. They can become strategic
infrastructure for connection, innovation and long-term growth, helping
destinations and industries build the relationships needed to thrive.
The industry’s focus on connection, collaboration and
long-term impact will also feature at IBTM World, taking place from 17–19
November 2026 in Barcelona, Spain. The event brings together meetings and
events professionals from around the world to build partnerships, exchange
ideas and explore opportunities shaping the future of the global business
events industry. -TradeArabia News Service