For cultural and team building, have you experimented at all with having employees attend an event like SXSW or something even less work-related like PAX so tha

For cultural and team building, have you experimented at all with having employees attend an event like SXSW or something even less work-related like PAX so that people can get to know each other personally better in something that is at best tangentially related to work? Or, does it seem to generally be a waste of capital and time that isn't worth it? I've personally experienced that I can really get to know people when spending an entire week hanging out with them in this manner, and that it seems to have very positive impacts on efficiency of my later interaction with them.