I'm sort of in on one of these . I say "sort of" because I actually am working on a real project too, but I get dragged out to these things quite frequently. Moreover, my being gone doesn't hurt the project much because my colleagues actually believe the company hype about my being a high-ranking manager from XXXX (not my home country). I simply dump responsibilities on underlings when I leave and then thank them for taking care of business when I get back.
My last trip included a day in Hongkong. Half the day was spent at a big meeting with all the muckitty-mucks, the other half the boss an I went shopping. She got herself a new leather bag,I got a pair of watches. (one for myself, the other for my wife) It can be a fun job at times.