Business tourism contributed €11.5m to the local economy in Cork last year.
The city is set to host 20 conferences in the year ahead that are expected to raise a further €12m for the region.
The importance of the sector to the Irish tourism industry was marked at an event in Cork yesterday.
"When highlighting the value of business tourism to the Cork region, it's important to note that one business tourist is worth three times more, in revenue terms, than a leisure tourist," said Séamus Heaney, chairman of the Cork Convention Bureau.
Last year the average value of a business tourist was calculated to be €1,600 per delegate, which was up from €1,500 in 2015.
Meanwhile, new research from employment platform LinkedIn has found that the UK remains the main destination for Irish third-level graduates.
Significantly, the report found that overseas graduates' interest in Irish jobs far outstrips supply, with five times the level of interest compared to the amount of jobs available.
"Ireland continues to be a major lure for foreign talent, with significant numbers of university-educated professionals interested in taking up roles here," said Sharon McCooey, senior director of international operations and site leader of LinkedIn Ireland.
"The Irish technology sector is one of the main beneficiaries of this trend.
"Given the growth in the sector and the economy as a whole, it is important that we see a positive net flow of talent into Ireland," Ms McCooey added.