One of the central reasons psychic income has been overlooked in business events is not because it does not exist, but because it has never been clearly articulated. Conferences have long been framed as functional, transactional, and inward-facing—events that happen in a city rather than with it. As a result, their wider emotional and social effects have remained largely invisible (Tan et al, 2024).

Yet many of the conditions required to generate psychic income are already present. Large association conferences bring thousands of delegates into a destination, often from overseas. They animate hotels, restaurants, transport systems, and public spaces—sometimes at unexpected times of the year. Residents notice the presence of unfamiliar accents, full cafés midweek, and a sense that something “important” is happening locally.

This matters because psychic income does not depend on attendance. In sport, residents derive pride and excitement simply from knowing their city has been selected to host a major event. Conferences operate in a similar way, albeit more quietly. Being chosen to host a global medical, scientific, or political gathering signals credibility, competence, and international relevance. The destination becomes a place where expertise converges and decisions are shaped.

The failure to recognise this has consequences. When impacts remain unnamed, they cannot be measured, communicated, or defended. Psychic income offers a language for capturing what many destinations intuitively understand but rarely formalise: conferences contribute to how residents feel about where they live.

Applying a concept developed in sports research to business events might initially appear counterintuitive. Sporting events are highly visible, emotionally charged, and often rooted in local identity. Conferences, by contrast, are frequently closed, technical, and specialist in nature. However, when examined as event types, the similarities are striking.

Both major sporting events and large association conferences involve competitive bidding processes, long lead times, and at times, significant public–private collaboration. Both are actively desired by destinations seeking international exposure, investment, and prestige. Crucially, both bring large volumes of visitors into a city for a concentrated period, creating temporary but noticeable disruption to everyday routines.

From the perspective of residents, these shared characteristics are more important than the content of the event itself. Psychic income is not generated by what happens inside a venue, but by what the event represents externally: visibility, validation, and momentum. A city hosting a global climate conference or a major scientific congress sends a powerful signal about its role in global knowledge networks, just as hosting a World Cup signals sporting relevance.

The key difference lies not in whether psychic income exists, but in how it manifests. Conferences may not generate emotional attachment in the same way as a home team, but they can still foster pride in place, excitement from international attention, and a sense of belonging to something larger than the local context. These are precisely the dimensions of psychic income that transfer most effectively.

A common critique is that residents are simply less aware of conferences than sporting events, limiting any potential psychic income. This observation is valid—but incomplete. Lower visibility does not mean zero impact; it means uneven and often underutilised impact.

In many destinations, conferences happen largely out of sight. Delegates move between hotels and venues with minimal interaction with local communities. Event branding is discreet, media coverage is limited, and public communication is often minimal. Under these conditions, psychic income is likely to be muted—but not eliminated.

Importantly, visibility is not a fixed property of conferences; it is a strategic choice. Where conferences incorporate public lectures, exhibitions, open sessions, or city-wide cultural programming, resident awareness increases markedly. Even indirect exposure—local media coverage, civic announcements, or visible welcome messaging—can enhance the sense that the city is hosting something of significance.

This is where convention bureaus play a critical role. Acting as intermediaries between event organisers and host communities, they are uniquely positioned to translate technical events into narratives that resonate locally. Promoting conference wins, explaining their relevance, and highlighting international participation can all amplify psychic income without compromising the professional integrity of the event.

The implication is clear: psychic income from conferences may not be automatic, but it is shapeable. Destinations that treat visibility as part of event legacy—not as an afterthought—are far more likely to unlock these intangible benefits.

Business events already have a strong economic case. Their contribution to GDP, employment, and high-value tourism is well documented and widely accepted (Lockstone-Binney et al, 2024, Delaney, 2023). Psychic income does not challenge this narrative; it complements it by adding depth and legitimacy.

Public funding decisions are increasingly influenced by social value considerations. Policymakers are expected to justify investment not only in terms of financial return, but also in relation to resident wellbeing, civic pride, and place identity. Sporting events have successfully leveraged psychic income to support arguments for public subsidy (Kim & Walker, 2012). Business events have not—largely because they lack comparable evidence.

By evidencing psychic income, conferences can be reframed as assets that contribute to social capital, not just economic throughput. This is particularly important in competitive bidding environments, where destinations seek to differentiate themselves beyond price and infrastructure. Demonstrating resident pride and community alignment can become a strategic advantage rather than a soft afterthought.

Moreover, psychic income provides a way to counter growing scepticism about events that appear exclusive or disconnected from local life. When conferences are shown to generate positive emotional outcomes for residents—even indirectly—they become easier to defend politically and socially.

In short, psychic income does not dilute the economic argument for conferences. It completes it.

Critics often argue that psychic income is too subjective, too emotional, or too difficult to measure—particularly outside the sporting context. Yet decades of research demonstrate that these concerns are overstated. Psychometric scales have been developed, tested, and refined across multiple sporting contexts, producing reliable and meaningful results.

The challenge for business events is not methodological feasibility, but research neglect. Conferences have historically been under-researched relative to their scale and significance (Nolan, 2020). As a result, tools that already exist have simply not been adapted or applied.

There is no need to invent entirely new metrics. What is required is contextual sensitivity: adapting language, indicators, and survey instruments to reflect how residents encounter conferences differently from sports events. Factors such as awareness, perceived prestige, international visibility, and pride in being a “conference city” are all measurable constructs.

Importantly, this research agenda cannot be driven by academia alone. It requires collaboration with destinations, convention bureaus, and policymakers who recognise the value of capturing these impacts. Early evidence of industry interest suggests this appetite exists.

If business events are to be understood—and supported—as fully rounded contributors to place value, psychic income must move from the margins of discussion to the centre of evaluation.