India’s experience economy set to nearly double to $59.2 billion by 2030: EEMA

Chennai: India’s experience economy is preparing for an encore, and this time, it is aiming for the global stage. Events and Entertainment Management Association (EEMA) has unveiled its Vision 2030 roadmap, projecting that India’s experience economy will nearly double in size from $32.2 billion in 2024 to $59.2 billion by 2030, fuelled by rapid growth in live entertainment, destination weddings, business events and cultural tourism.

Released ahead of EEMAGINE 2026 in Chennai, the roadmap estimates annual growth of 16 to 18 per cent, almost twice the global average. Despite being home to 18 per cent of the world’s population, India currently contributes just 2 to 4 per cent of the global experience economy, a gap the association sees as its biggest growth opportunity.

According to EEMA, the organised events industry already contributes Rs 3.5 lakh crore to Rs 4 lakh crore to the Indian economy and supports more than one crore jobs. The association expects both figures to nearly double over the next five to six years.

Weddings continue to dominate the sector. India’s wedding economy, including organised and unorganised segments, is estimated at around Rs 125 lakh crore, making it the country’s fourth-largest industry, with roughly 10 million weddings taking place every year.

Live entertainment is also gathering pace. India hosted more than 34,000 concerts and live shows in 2025, while Coldplay’s Ahmedabad concerts alone generated an estimated Rs 641 crore in economic impact, according to research by EY-Parthenon and BookMyShow Live.

EEMA said every large-format event creates a ripple effect across industries including hospitality, aviation, logistics, retail, food and beverage, transport, production, technology and tourism. The association also noted that the Government of India remains the country’s largest event spender, issuing more than 3,000 government event tenders annually.

The roadmap aligns with the government’s own ambitions for the sector. The Ministry of Information and Broadcasting’s Live Events Development Cell has set a target of creating 15 million to 20 million additional jobs by 2030. EEMA also welcomed the Ministry of Tourism’s ‘Wed in India’ campaign and said it had submitted a draft MICE strategy through WAVES to the Ministry of Commerce, calling for single-window clearances and simplified approvals to attract more international events.

The association’s long-term ambition is to position India as the “Experience Capital of the World” by strengthening its leadership in destination weddings, live entertainment, cultural tourism, international conventions and experience-led innovation through policy reforms, infrastructure development, technology adoption and talent creation.

During EEMAGINE 2026, EEMA will also release India’s first socio-economic impact report on the events industry, prepared in partnership with KPMG and Mastercard, offering a comprehensive assessment of the sector’s contribution to the economy and employment.

“Our mission is simple, to position India as the Experience Capital of the World,” Events and Entertainment Management Association president Samit Garg said.

He added that India’s strength in storytelling, celebrations and culture has evolved into a major economic opportunity, with the experience economy increasingly driving tourism, entrepreneurship, employment and destination development.

Chennai will host EEMAGINE 2026 from 7 to 9 August at ITC Grand Chola, marking the convention’s first edition in the city. EEMA said Tamil Nadu was chosen because it reflects the transformation envisioned under Vision 2030. The state recorded 286 million domestic tourist visits in 2024, ranked first in foreign tourist arrivals and is targeting a $1 trillion economy by 2030, with tourism expected to contribute 12 per cent of state GSDP.

Commenting on the venue, Events and Entertainment Management Association vice president, south Vinod Gopal said hosting the convention in Chennai would showcase the state’s infrastructure, creative talent and cultural strengths while creating fresh opportunities for local businesses and event professionals.

The three-day convention is expected to bring together more than 800 policymakers, entrepreneurs, industry leaders and international experts to discuss business growth, artificial intelligence, sustainability, policy, talent development and the future of India’s rapidly expanding experience economy.

As concerts, conventions and celebrations become bigger business, EEMA believes India’s next economic success story may well be built on experiences rather than products.