Events Industry Recovery Hits Geopolitical Headwinds
The global events industry cooled in the first quarter of 2025 but still outperformed the same period last year, according to a new Events Industry Council (EIC) report. Hotel group bookings and RFP activity dipped to 90% of 2019 levels — down from 96% and 98% in the prior quarter, but up from 87% in Q1 of 2024.
North America had the strongest hotel group demand, hitting 96% of 2019 levels. The Middle East followed at 95%. Central and Eastern Europe was the worst performing region at 74% of pre-pandemic levels.
Regional RFP activity varied widely. Mexico led at 177% of 2019 levels, followed by Turkey at 171%. The U.S. maintained strong performance at 112%, while China and Germany struggled at 56% and 50% of pre-pandemic activity respectively.
Global room rates averaged 129% of 2019 levels, a modest increase given a global inflation rate of 23.7%. This pricing pressure comes at a challenging time, as organizations grapple with tightening budgets and scrutiny of business travel and event expenditures.
Large and medium-sized events (200+ peak room nights) show greater price sensitivity. Rates for larger events average 123% of 2019 levels compared to 129% for smaller ones. Events booked within 12 months command higher premiums than long-term bookings, suggesting organizers are paying more for flexibility.
Industry headwinds include Middle East tensions, tariff uncertainties, and shifting travel policies. The latest business sentiment index from Oxford Economics — which partners with the EIC on this series of reports — is 1.1% below the historical average, with 74% of respondents citing trade war concerns as their top risk.
While the industry's recovery foundation remains solid, geopolitical pressures and policy shifts raise questions about potential slowdowns ahead.
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