The tourism body's Conference Value & Volume 2012 report showed a 43% increase in event-generated income in 2011, compared with the £573m in 2009, when the report was last undertaken.
Greater Manchester hosted 5.2 million delegates to its venues in 2011, an increase of 23% on 2009’s 4.2 million; while 8.2 million delegate days were generated, a 19% increase on 2009 when 6.9 million were recorded.
According to the research, corporate business events account for 59% of all business events in the region, followed by government and public sector events (28%), national association conferences (11%) and international association conferences (3%).
The study also reports that 21,800 full time jobs were supported by the business tourism sector throughout Greater Manchester.
Paul Simpson, managing director of Visit Manchester, said: "We are thrilled with the results of this study, which shows just how big a contribution the conference and business tourism sector makes to the local economy – in terms of both economic value and job creation.
"There have been major developments in Greater Manchester’s conference product over recent years, in terms of developing the infrastructure and support services that organisers expect of a world class conference destination and increasing the region’s conference venue supply."
The study was commissioned by Visit Manchester and carried out by Team Tourism Consulting who also undertook the 2010 study. Place First Economic Redevelopment & Regeneration Consultancy provided the employment analysis.