Biological invasions can cause substantial economic losses and expenses for management, as well as harm biodiversity, ecosystem services and human well-being. A comprehensive assessment of the economic costs of invasions is a challenging but essential prerequisite for efficient and sustainable management of invasive alien species. Indeed, these costs were shown to be inherently heterogeneous and complex to determine, and substantial knowledge gaps prevent a full understanding of their nature and distribution. Hence, the development of a still-missing global, standard framework for assessing and deciphering invasion costs is essential to identify effective management approaches and optimise legislation. The recent advent of the InvaCost database – the first comprehensive and harmonised compilation of the economic costs associated with biological invasions worldwide – offers unique opportunities to investigate these complex and diverse costs at different scales. Insights provided by such a dataset are likely to be greatest when a diverse range of experience and expertise are combined. For this purpose, an international and multidisciplinary workshop was held from 12th to 15th November 2019 near Paris (France) to launch several project papers based on the data available in InvaCost. Here, we highlight how the innovative research arising from this workshop offers a major step forward in invasion science. We collectively identified five core research opportunities that InvaCost can help to address: (i) decipher how existing costs of invasions are actually distributed in human society; (ii) bridge taxonomic and geographic gaps identified in the costs currently estimated; (iii) harmonise terminology and reporting of costs through a consensual and interdisciplinary framework; (iv) develop innovative methodological approaches to deal with cost estimations and assessments; and (v) provide cost-based information and tools for applied management of invasions. Moreover, we attribute part of the success of the workshop to its consideration of diversity, equity and societal engagement, which increased research efficiency, creativity and productivity. This workshop provides a strong foundation for substantially advancing our knowledge of invasion impacts, fosters the establishment of a dynamic collaborative network on the topic of invasion economics, and highlights new key features for future scientific meetings.