India’s experience economy projected to reach $59.2 billion by 2030, says EEMA

The Indian events and live entertainment industry is projected to grow to $59.2 billion by 2030, up from its current size of $32.2 billion, according to Samit Garg, president of the Events and Entertainment Management Association (EEMA). Speaking at EEMAGINE, a conclave that brought together members from India’s events and experiential marketing industry, Garg said the sector has been expanding at 16–18 per cent annually over the past five years.

Garg, who is also managing director and co-founder of E-Factor Experiences Limited, noted that the wedding business is growing at 18–20 per cent, sports at 20–23 per cent, and ticketed events at about 26 per cent. He highlighted Tamil Nadu’s leading contribution to the country’s GDP as an indicator of the scale the experience economy could achieve. “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,” he said.

Garg said India is 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.

At the conclave, EEMA released a report titled “Socio-Economic Impact of the Indian Events and Experiences Industry,” prepared with support from KPMG, with Mastercard contributing 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 sector’s large contract and gig workforce; continued investment in tier-2 and tier-3 event and hospitality infrastructure; and clearer national guidance on crowd safety and cancellation risk.

A key finding is that around 80 per cent of event 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; and primary survey data from event visitors and organisers. It analysed 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. It notes that 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.

Industry leaders believe that with policy support, the sector can not only double in size but also create substantial employment and spur local economic development. The report emphasises that a large part of the sector’s workforce operates on a contract or gig basis, and extending social security coverage would help formalise employment and provide a safety net for workers. EEMAGINE served as a platform to discuss these opportunities, bringing together stakeholders from across the events and experiential marketing ecosystem.

The growth projections, if realised, would make the experience economy a major contributor to India’s economic output. However, the report cautions that addressing regulatory hurdles and infrastructure gaps will be critical to achieving this target. The discussions underscored the need for a collaborative approach between the industry and government to unlock the sector’s full potential.