The business events industry continued its gradual rebound in the second quarter of 2025, according to new data released by the Events Industry Council (EIC). The organization’s latest Global Events Barometer highlights encouraging progress, including strengthening hotel group room demand and record-setting RFP activity, while also signaling ongoing challenges tied to rising costs, uneven geographic performance and geopolitical instability.

The Q2 report shows hotel group room nights at 94% of 2019 levels — up from 90% in the first quarter — marking a clear step toward pre-pandemic benchmarks. At the same time, global RFP activity reached 102% of 2019 levels, the strongest result recorded since the Barometer was launched. This surge reflects strong booking momentum and renewed confidence among corporate and association meetings organizers.

However, that momentum comes with rising price pressure. Quoted room rates in RFP responses averaged 131% of 2019 levels, continuing a familiar trend of higher pricing that complicates planning budgets. The data suggests that while demand is normalizing, rate stabilization is still some distance away.

“The results illustrate both the resilience of our sector and the difficult environment in which we continue to operate,” said Amy Calvert, EIC President and CEO. “While it is encouraging to see RFP activity recover, slower global growth and heightened geopolitical risks continue to impact sentiment and create uncertainty for event professionals worldwide.”

Regional Winners and Laggards

Recovery is far from uniform. Western Europe and North America, with index scores of 90 and 93 respectively, remain below 2019 activity levels. Meanwhile, Latin America (123) and the Middle East (122) continued to outperform, driven by an influx of investment, market expansion and favorable economic conditions.

Country-level shifts are even more dramatic. India (144), Mexico (185), and the United Kingdom (156) posted the strongest second-quarter indices. Germany (58) and China (57), in contrast, struggled to gain traction, pointing to national-level factors such as slower economic growth, weaker corporate spending and/or travel constraints.

For meeting professionals, this means navigating increasingly varied conditions. Market selection, contracting timelines and budget management are becoming more complex as regional rates and availability diverge. Planners may find favorable opportunities in emerging markets but face tougher pricing and compression in historically dominant hubs.

Slowing Growth, Rising Risks

The Barometer results align with a more cautious global economic outlook. Oxford Economics projects worldwide GDP will grow 2.6% in 2025 and 2.4% in 2026 — both below long-term averages. Travel spending is expected to slow, particularly in North America where growth may reach only 1.6% this year.

EIC’s Global Risk Survey underscores market instability, highlighting geopolitical tensions, tariff volatility and slower U.S. growth influenced by populist policies as major factors clouding the forecast.

“Business events continue to provide essential value, but the global environment remains fragile,” said Dr. Senthil Gopinath, 2025 EIC Board Chair and CEO of ICCA. “The industry must remain focused on resilience and adaptability as we navigate this next phase of recovery.”

Looking Ahead

The EIC is also advancing work on the next Global Economic Significance of Business Events Study, scheduled for release on May 5, 2026, in Washington, D.C., during Global Meetings Industry Day and Business Events Week. Produced with Oxford Economics and supporting partners, the study will update the valuation of the global business events sector, currently estimated at $1.6 trillion USD.

Calvert notes that the study will play a pivotal role in industry advocacy, workforce planning and stakeholder engagement. “The Economic Significance Study provides the foundation for our sector’s advocacy efforts and is an essential tool for amplifying the breadth and impact of our sector,” she said.