India’s Experience Economy set to reach $59.2 billion by 2030: EEMA president

The entertainment and live events sector is expected to reach $59.2 billion by 2030, up from its current size of $32.2 billion, Samit Garg, president of the Events and Entertainment Management Association (EEMA) and MD and co-founder of E-Factor Experiences Limited said.

“The industry, overall, on a pan-India basis, has been progressing very well over the last five years. We have recorded growth of 16% to 18% year on year. The outlook for the future looks equally promising. The wedding business is growing at 18%-20%, sports at around 20%–23%, and the ticketed business at around 26%,” he said at EEMAGINE, a conclave that brought together members from India’s events and experiential marketing industry. “Tamil Nadu is the number one state in terms of its contribution to GDP, so you should calculate how big the experience economy could be,” Mr. Garg added.

He also made a presentation in which he said India was moving from a service economy to an experience economy. “For 50 years, our industry was treated as adjacent to tourism, to hospitality, to culture. That era is over. Live experiences now drive GDP, generate mass employment, move tourism, and decide how a State brands itself to the world,” he added.

A report titled ‘Socio-Economic Impact of the Indian Events and Experiences Industry’ was released. The report was prepared with the support of KPMG, while Mastercard contributed insights into consumer spending behaviour. The report calls for a coordinated central and state action agenda covering streamlined single window regulatory clearances for events; extension of formal social protection coverage to the sectors large contract and gig workforce. Other requests include continued investment in tier-2 and tier-3 event and hospitality infrastructure and clearer national guidance on crowd safety and cancellation risk. Around 80% of organisers rate the overall ease of obtaining event related permissions as difficult.

The study draws on secondary research from government sources, industry bodies, academic research and global benchmarks; interactions with EEMA and other relevant stakeholders; primary survey data from event visitors and organisers; analysis of 108 unique events attended by over 18 lakh attendees. The report applies a Direct-Indirect-Induced (DII) framework to assess the economic contribution of representative event categories across the industry.

India’s events and experiences industry sits at the intersection of commerce, culture and community. Events create concentrated demand that activates local economies, drives visitor spending, supports livelihoods and enhances the attractiveness of destinations. Their impact extends beyond the event itself, generating value across hospitality, travel, retail, logistics, media, technology and a broad ecosystem of micro, small and medium enterprises.