Demand for future business events is surging back to near-record highs, with Q4 2024 request-for-proposal (RFP) activity reaching 98% of pre-pandemic levels, according to the latest Global Events Barometer from the Events Industry Council (EIC). Unveiled on April 17, the data signals a robust comeback for the global events sector—even as it navigates shifting trade policies, economic uncertainty, and geopolitical tension. 

Released quarterly, the Global Events Barometer addresses the need to monitor the industry’s progress over time and by key global regions and countries. Created by EIC’s research partner, Oxford Economics, the barometer uses data provided by Amadeus Hospitality, Cvent, the Global Business Travel Association, and STR Global to monitor the changes within the market relative to pre-pandemic levels. 

Key Findings 

• Global hotel group room nights close to 2019 levels. In Q4 2024, the hotel group room nights index stood at 96, representing 96% of 2019 levels — a slight decline from Q3 but an improvement over Q4 2023 (93).  
• RFP activity continues to rise. The RFP activity index reached 98% of 2019 levels in Q4 2024, also slightly down from the previous quarter but well ahead of the previous year’s 86.  
• Global room rates up. In a boon for the hotel industry (but not the greatest news for planners), global room rates in RFP responses averaged 119% of 2019 levels, suggesting a robust recovery in hotel pricing. 
• Where groups are looking to meet. Activity in Western Europe showed a solid improvement relative to a year earlier, with RFP activity showing gains during the past three quarters relative to a year earlier. North America has continued with RFP activity running well ahead of 2019 levels on a sustained basis. 
• Forecast for 2025. U.S. trade policies risk triggering a global trade war that would slow growth, raise uncertainty, and negatively impact financial markets, as well as threaten international travel and business event activity. Negative sentiment and travel concerns have reduced the outlook for international travel to the U.S., representing a likely headwind to some business events. 

“The latest Barometer sheds a light on our industry’s continued resilience, while also touching on our current reality and the renewed volatility brought by recent dramatic shifts in policy,” said EIC President and CEO Amy Calvert. “We are all grappling with a wide swath of issues, uncertainty related to the economy, widespread tariffs, questions around international travel, ongoing conflicts and tension between rival countries, catastrophic weather events, and humanitarian crises.” 

She added, “While uncertainty prevails, we are reminded to remain focused on building our own, as well as organizational resiliency and agility.” 

Looking Ahead 

This year, EIC is collaborating with Oxford Economics on the 2026 Economic Significance of Business Events Study, which will evaluate the direct, indirect, and catalytic impacts of business events globally. 

EIC’s Events Industry Risk Management Guidebook, developed during the pandemic, serves as a crucial resource for identifying and mitigating risks to attendees, events, organizers, and suppliers during uncertain times, and how to apply the appropriate measures to manage the probability and consequences of such risks. 

“As a sector we are learning to adapt to the evolving expectations of our constituencies, and the ongoing challenges to support and build our workforce,” Calvert said. “As a federation, in collaboration with other industry stakeholders and partners, we are united in our commitment to advancing our industry and supporting our workforce.” 

The next EIC Global Events Barometer, which will report on activity from Q1 2025, is expected to show shifts in business events activity and provide further insights into how the industry is navigating the evolving global landscape. 

View the full Q4 2024 Barometer here. 

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