• THE GLOBAL EXCHANGE: BUSINESS EVENTS
A bigger stage for business Business events are expanding fast, with the Middle East gaining share and Saudi Arabia investing heavily in venues, connectivity and talent to capture a bigger slice of a market heading beyond $3 trillion
use of AI, hybrid participation and data-led event management. The economics are evolving too. GBTA’s July 2026 forecast expects average meeting and event cost per attendee per day to rise by about 3% this year to $263, led by food and beverage, production and labour. That puts more pressure on planners to extract value from every journey, and favours destinations that can combine efficient logistics with strong venue product, reliable air access, hospitality depth and memorable after-hours experiences. THE MIDDLE EAST MOVES UP The Middle East is taking a larger share of this spending. Tourism Economics data published by Arabian Travel Market forecasts the region’s portion of global corporate travel expenditure rising from 2.5% in 2024 to more than 3% by 2030. Established Gulf hubs have built strong international recognition, while the next wave of growth is spreading across the region through new convention capacity, airports, hotels, destination districts and government-backed event calendars.
F ace-to-face business is back at the heart of corporate travel growth, but the reasons for travelling have become more exacting. Companies want meetings that move projects forward, connect teams, open markets and deliver measurable com- mercial value. Delegates want the trip itself to earn its place in the diary, with better content, useful networking and a destination worth staying in once the formal programme ends.
values the global MICE sector at $1.34 trillion in 2026 and forecasts $3.06 trillion by 2034, representing annual growth of 10.86%. Demand is broadening at the same time. Conferences and internal company meetings remain core reasons to travel, while training, sector-specific gatherings, exhibitions and incentive programmes are pulling in new audiences. Around 86% of business travellers surveyed by GBTA in 2025 regarded work trips as worthwhile, helping explain why companies continue to protect travel that brings people together even as budgets come under greater scrutiny. The attached business-events feature also points to a move towards longer- term outcomes such as partnership development, knowledge transfer and commercial impact, alongside greater
That combination is creating a powerful growth cycle. Global
business travel spending reached a projected $1.57 trillion in 2025 and GBTA’s 2025 outlook forecast an 8.1% increase in 2026, with spending set to pass $2 trillion by 2029. The dedicated meetings, incentives, conferences and exhibitions (MICE) market is expanding even faster. Fortune Business Insights
86 | SPOTLIGHT RIYADH
Made with FlippingBook Digital Proposal Creator