Diversity and Impact of Global Events Industry

This report explores the diversity and impact of the global events industry. It discusses the factors influencing its development, such as advancements in technology and consumer preferences. It also highlights the importance of responsible event management and the legacy and impact of various global events on the environment.

Global Events

Table of Contents
INTRODUCTION...........................................................................................................................3
L O 1................................................................................................................................................3
Diversity of global event's industry.............................................................................................3
Factors influencing the development of global events' industry..................................................5
Growth and emergence of events industry-.................................................................................5
Future trends in event industry:...................................................................................................6
Key factors that have influences the structure, development of events industry.........................6
L O 2................................................................................................................................................6
The importance, legacy and impact of various global events with the environment...................6
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................9

INTRODUCTION
The term global events refers to the events that are held for a limited time period that
have reach at global level and also requires investment. These events have an impact on
environment as well as on population (Nicolaides, 2015). The present report is based on the
industry of global events and its working within nation.
The Report will outline diversity of events industry, structure and components of events
industry, Factors influencing the development of global events' industry, management strategies
that are used to assist responsible event's development etc.
PART A
L O 1
Diversity of global event's industry.
An event refers to something that happens generally when it is important or unusal.
Events can also be described as all the things that are occurring in a specific situation. It is a
organized and planned occasion. For Example – Sports match etc.
Community events -
It refers to an event that is of educational, political, public nature and it also involves
country and state fairs, circuses, city festivals and any other form of public gathering events that
are approved by local enforcement agency. These events are of large size for fun, social and
entertainment value for the local community. They may attract people from outside the region
thereby also provides some social, economic and cultural benefits. They may also have large
regional advantages but to a lesser extent as compared with major events.
Major events -
These events are of all types that are becoming a significant element in competitive
arsenal of cities and their tourism offices and economic development. Major events are those
events that bring people to the city and offer attractions for residents, and they also ensure that
the name of city is profiled in international and national media (Bostock, Cooper and Roberts,
2016). They also require major investment in facilities, infrastructure and amenities and some
might have limited utility after the event. They require at least 500 forecast participants and
attract large percentage of participants from outside the regions. Major events also have national,
state wide and some international profile and major media, marketing coverage. They provide
high level of economic, cultural and social advantages to the region.

Hallmark events -
These events are major expositions, sporting and cultural events of international status
that are conducted on either regular or a one-off basis. The major function of these types of
events is to offer host community an opportunity to secure high importance in tourism market
place. However, these events may gain regional or international importance with major social
and environmental costs. Hallmark events are unique and internationally recognized events.
They also attract international and national participants and spectators to the destination from
outside the region.
Cultural events -
Culture is an important part of the society in which people live. There are various types
of cultures across the globe that are different from each other in different ways. These events are
related with a particular culture, and they represent the culture (Energy, Areas and Weekly,
2019). Cultural events may be related with art, music or other similar things, Cultural events and
festivals are increasingly becoming the domain of discourse that enables individuals to express
their ideas, opinion and views on political, cultural and social issues.
Sports events -
The term sports events means an athletic activity that requires physical prowess, skills.
These events are generally competitive in nature and are governed and controlled with the help
of rules that are developed and recognized at national level by a sanctioning body. It mainly
involves placing of competitors into a fixed order of finish that depends upon their own athletic
performance within the rules specified for that activity.
Music events -
It refers to community event that are destined towards live performance of instrument
playing and singing that is generally presented with a particular theme such as classical music,
blues, jazz etc. or nationality, holiday. These events commonly held outdoors with roofed and
tents temporary stages for the performers.
Business events -
These events are the occurrences that brings change in financial position of the business.
An event is known as business event that influences the accounting equation and can be
reasonably measured. Those happenings that can affects the accounting equation are known as
business events.

Structure and components of events industry:
The global events is a broad term that includes event organizations, event management
companies, event industry, suppliers and industry associations. Event management is described
as the coordinated efforts behind organizing, executing and planning different types of events. It
involves fundraisers, corporate meetings, weddings, fashion shows etc. Many firms use event
management companies to coordinate their major events (Olivier, Carlson and Lyons, 2018).
Example – Firebird Events Ltd. that is committed to offer event management service, wedding
services, party planning for private, corporate, government clients.
Different role of events in the society:
There are various types of positive impacts of events on the society. It involves
development of social networks and communication within the community, improvement of
social connection within the society, development of current resources within the society etc.
Factors influencing the development of global events' industry.
Growth and emergence of events industry-
The event's industry in UK has shown rapid growth in past 10 years with the change in
behaviour and increase in different types of festivals. Not only individuals are attending more
events, but they also have desire to gain live experience offer by the events.
The industry is booming and behaviour of people is changing from spending their
disposable income in physical commodities to choosing to spend on delightful experience and
opportunities like festivals. In total, every year nearly 1.3 million corporate events are held with
own unique offering. In year 2017, event industry has created total 26 million jobs and
contributed $1.5 trillion to gross domestic product (Christou, Sharpley and Farmaki, 2018).
Further, the events are also generated more output as compared with other large global segments
like computers, consumer electronics etc.
Motivation and demand for various types of events-
The demand of tourists for different types of events is affected by different factors. There
is a huge increase in the demand for events and meetings. According to CWT Meetings &
Travel, it has been predicted that there is an increase in demand for events by 5-10 %. Due to
this, every year 1.3 million business events are held every year in UK. Further, the amount spend
by attendees at business events is worth an additional £7.7 billion (Horne, 2017).
There are various factors that motivate people to attend different types of events such as:

Intrinsic motivation-
There are various people that attend events for satisfying psychological needs like leisure,
travelling, need for relaxation, belongingness, self-expression etc.
Extrinsic motivation-
It involves external factors like need to feel competent, money etc (Chen, Lee and Lung,
2017).
Future trends in event industry:
Automation with the help of artificial intelligence for events will help to save time of
venue management teams. It means that, event will now become affordable as compared to
previous years.
Key factors that have influences the structure, development of events industry.
There are various key factors that creates an impact on development and structure of
global event's industry. It includes advancement in technology, consumer preferences and global
expansion. People that are having disposable income are having more chances to attend the event
because they afford to attend them. This has lead to expansion and growth of event industry
(McCully, 2019).
For example – Event pros are grasping innovative tools for event management. The research
shows that technology helps to improve attendance of attendees by 20 %, reduction in cost by 30
5 and increase in productivity by 27 %.
Critical evaluation techniques that have influenced events industry.
External environmental analysis is the appropriate evaluation technique that can be used
by event management firms to identify the impact of different factors on event's industry such as
social, technological etc (Lea, 2019).
With the help of analysis of macro environment, FireBird Ltd which is an event management
company may identify the factors that are contributing to growth of event industry.
These factors play an important role in society by providing employment to large number
of people, they also create awareness among people regarding different cultures etc.
L O 2
The importance, legacy and impact of various global events with the environment.
Responsible event development-

The term responsible event promotes the sustainable development and growth of the
planet. It puts into practice a complete series of measure that helps to promote both social,
environmental, economic development at local and global level.
Impact-
Social and cultural impact-
Events that are conducted by various companies creates positive impact on the society as
well as on different cultures. Events help to improve spirit of the community, developing
networks within and outside the society. It also helps to improve the skills of residents of the
community, promotes sense of place and pride among people living in society. Further, events
like cultural events help to unite families (Getz and Page, 2016).
Cultural diversity also influences the events and festivals in different ways. People from
different cultures gain experience of new activities, attendees learn new things, develops cultural
skills, achievement of common community objectives etc.
Environmental impact-
The environmental influence of events is gaining traction increasingly, the duty for which
is mainly perceived to lie with festival and event organizers and managers. Event management
firms should adopt best practices and make efforts to leave no trace after the event on which they
are working. They should adopt bottom up approach for sustainability. Therefore, event
managers should also focus on environmental responsibility. Companies that incorporate
environment friendly practices have motives like desire to meet demand of people, need to gain
competitive advantage etc.
Economic impact-
There are various direct as well as indirect impacts of events industry on the economy of
the country. Direct impact is that, it helps to contribute to overall gross domestic product of the
country and also helps to provide employment opportunities to the people etc. It has offered
more than 570,000 full time jobs to unemployed people. Further, in year 2018 6 million
attendees at international level has generated $38 billion of spending in meetings (Chen, Kapoor
and Bhatia, 2016).
The event's industry has also contributed to exports, inward investment, development of
infrastructure, cultural appreciation and community cohesion. There are some invisible benefits

also such as earning through export transactions. It also helps to contribute to well-being, health,
education and civic pride. Business events in UK accounts for 30 % of the visitor economy.
Event legacy-
Suppliers- These are individual or firms that supply raw material and other components to
companies that helps to organize events for the customers on contract basis. Some of the
suppliers supply food and beverage for the attendees that attends an event. Taste of food items
also impact the experience of customers.
Sponsors-
They play an important role in organizing events by providing certain amount of funds
for certain perks (Jones, 2017).
Media
Media helps the event management firms to reach large mass. It helps to grab the
attention of people who don't even know about it. Further, it also helps to landing up good
sponsors.
Management strategies that are used to assist responsible event's development.
Corporate environment management model-
ISO environment management model is a system that is developed to help companies to
manage the impact of their activities on environment and also helps to improve environmental
performance that is caused by services, activities and products. The model can be used by event
management firms to address problems related with environment resources etc.
Balance scorecard-
It is a system of key indicators that takes into account all the processes that are related
when taking part in an event or fair and integrates aspects related with behaviour of guests and
attitude of all process participants (Lea, 2019).
The role of government- Government-
The Brexit can also influence music event industry as artists are required to pay huge
amount of tax to the Government on importing equipments for conducting event.
Critically evaluate management strategies used in events industry.
Management strategies like balance scorecard will help event industry to translate
strategies of event companies into daily event or fair business. Environment management model
will help companies to manage the impact of activities on environment.

Strategies used by events industry to support development of responsible event.
Event companies should implement waste management strategy by providing recycling
bins to the public that will help to manage waste items. Further, it should adopt strategy that
helps to reduce use of plastic.
Part B (covered in ppt)
CONCLUSION
The above Report has outlined that community events are of large size for social, fun and
entertainment value for the local community. Major events are the events that bring tourists to
the city and offer attractions for residents. Events industry helps to create positive impact on the
society such as development of social communication and networks. Further, the Report has
explained that There are various factors that affects structure of event industry like advancement
in technology, income of people etc. Moreover, events also help to improve spirit of the
community, development of networks within and outside the society.
REFERENCES
Books and Journals -
Bostock, J., Cooper, R. and Roberts, G., 2016. Rising to the Challenge of Sustainability:
Community Events by the Community, for the Community. In Managing and Developing
Communities, Festivals and Events (pp. 16-33). Palgrave Macmillan, London.
Chen, L., Kapoor, S. and Bhatia, R., 2016. Emerging Trends and Advanced Technologies for
Computational Intelligence. Springer.
Chen, Y.A., Lee, L.C. and Lung, C.H., 2017, May. A study on the music co-creation event based
on activity theory-with an example of wedding cultural industry. In 2017 International
Conference on Applied System Innovation (ICASI) (pp. 578-581). IEEE.
Christou, P., Sharpley, R. and Farmaki, A., 2018. Exploring the emotional dimension of visitors'
satisfaction at cultural events. Event Management. 22(2). pp.255-269.
Energy, S., Areas, H.I. and Weekly, U.N.E.C.E., 2019. Major events. Forest.
Getz, D. and Page, S., 2016. Event studies: Theory, research and policy for planned events.
Routledge.
Horne, J., 2017. Sports mega-events. Sport, Media and Mega-Events. p.19.
Jones, M.L., 2017. Sustainable event management: A practical guide. Routledge.

Lea, R., 2019. UK growth slowed in 2018, though not significantly out of line with the other
major EU economies. Arbuthnot Banking Group. 25.
McCully, E., 2019. Sustainability at Festival Events. Headliners: An Anthology of Postgraduate
Student Writing From the UK Centre for Event Management. 2.
Nicolaides, A., 2015. The Events Industry Managing Corporate Social Responsibility in a Global
Context. Journal of Economics. 6(1). pp.50-61.
Olivier, L., Carlson, J. and Lyons, K., 2018. Towards a conceptualisation of customer perceived
value in periodic hallmark events. CAUTHE 2018: Get Smart: Paradoxes and Possibilities in
Tourism, Hospitality and Events Education and Research. p.756.
Online -
Issues affecting UK events. 2018. Online Available Through :
<https://grapevineeventmanagement.co.uk/news/2018/10/3/pestle-issues-effecting-uk-events>