Diversity of Global Event Industry and Impact on Economy

Global Events

Table of Contents
INTRODUCTION...........................................................................................................................1
PART A...........................................................................................................................................1
Examine the diversity of global event industry......................................................................1
Critically evaluating the key factors that shape the event industry........................................3
PART B............................................................................................................................................5
Evaluate the value, impact and legacy of a range of global events........................................5
Reviewing management strategies used to support responsible event development.............7
Critically assess the impact of global event on different level of environment and specific
management strategies............................................................................................................8
PART C............................................................................................................................................9
PESTLE analysis....................................................................................................................9
SWOT Analysis....................................................................................................................11
Recommendations for improvement and solutions for an event to minimize adverse impact13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
Global events are the international communication agency which is actually built in order
to connect the brands as well as people with a live events. Thus, in the same way current report is
also helps to provide deep understanding related to global events. Moreover, global event also
benefited economy of the country and enhance GDP. The aim of this report is to increase
destination and share of the international events market by improving destination's economy. The
chosen event for this report is London Olympics 2012 and Football world cup 2019 which were
already held in London. Thus, report will describe the diversity of the global event industry,
which includes the structure and organization and role of different types of event in a society.
Further study will explore the factors which have influenced the development of an event
industry at global level.
Report will evaluate the value, impacts and legacy of a range of global events on the
environment in which events are operate and describe management strategies that is used to
support event development for the range of global events. Moreover, report will describe the
positive and negative impact of macro economic factor by using PESTLE analysis and then
describe internal factor by using SWOT analysis with an example.
PART A
Examine the diversity of global event industry
The global event industry in growing industry and as per the size and content, event
industry is divided into our types such as:
 Business Event: This type of event are occur in the context of business scenario and
some times, internal company meeting are also consider under the business events. On
the other side, conference and seminar are consider one of the most common example in
the business event where company provide helpful information to their stakeholders,
shareholders (Asada and et.al., 2019). This type of event are come under minor event
where a range of people (related to business) are invited.
 Sporting events: It is refers to the contest in which animals, people and machine
compete individually or with a team with a motive of winning. There are range of sports
event held at national and international level and that is why, it comes under hallmark
event. For example, Cricket world cup, while on the other side, FIFA Women's World
cup are major event.
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 Social Events: The main characteristics of this type of event is such that it involves a
public performance or entertainment and it is held at given place and time. Its main
purpose is to bring people together in a group so that they can be socialize. For example,
Housewarming party which is consider under minor events (Finkel, Sharp and Sweeney,
2019).
 Music Festival: It is the community event oriented where live performance of signing
and instrument playing with a theme such as classical music, folk, jazz. This type of
event is held at local and national level where people may come and enjoy. When this
event held at national level then it is consider under major event. For example,
Woodstock Music & Art Fair which attracted 5 lac people.
Structure of selected event:
London Olympics, 2012: This international multi- sport event was held from 27 July to
12 August, 2012 with a motive to benefit London and United Kingdom. The overall cost of this
event is 14.8 billion dollar and the worth of an event is around 15 billion (London Olympics,
2012, 2019). As compared to other event, it is consider the most expensive Olympics in history.
Thus, government also spends lot of money, so hosting Olympics in London will assist to boost
the travel and tourism during Olympics and hopefully after that. On the other hand it also boost
prestige of a country and enhance GDP of country as well.
Football World Cup 2019: This event is also held at international level in which 24
women national team represents member association of FIFA. The cost of this event is 4 million
Euro and the event also earned around 10 percent more from its spending. Moreover, this event
is actually introduce or organized with an aim to regulate and promote sport at global level. The
event also creates positive impact upon the economy of the country because It also attract range
of tourist and further, encourage sports in UK (Eginli and Narin, 2017). Also, this event also
make UK better fitness standards and less obese by reducing the demand for healthy care, this
also creates direct impact upon economy by lower down the rate of unhealthy people.
On the other side, from the statistics it is analyzed that London Olympics 2012, boost the
UK economy by £9.9 billion at national level. While on the other side, at local level, London
Olympics, 2012 end up the costing with a huge tax payer but £1 billion is less than 0.1% of total
GDP. Thus it is consider one of the long time opportunity in order to host the most important
sporting event. As UK also spend £80 billion in health care every year but did nit spend £1
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