Global Events Industry: Development, Key Factors, and Impact Analysis

This report provides a comprehensive analysis of the global events industry, encompassing its definition, types, and structure, with a focus on the ExCeL, London as a leading international convention center. It examines various types of events, including mega-events, social events, seminars, concerts, trade shows, and major events, highlighting their impact on tourism, revenue, and GDP. The report further explores the factors influencing the development of event industries at both local and global levels, such as technology, social impacts, environmental considerations, employment creation, and economic policies. It evaluates the positive and negative impacts of these factors, discusses critical evaluation techniques, and analyzes the impact and legacy range of global events, including their economic and environmental effects. The report concludes by discussing event management strategies and the role of global events in driving social and economic changes, emphasizing the importance of sustainability and future development strategies. Desklib provides access to similar reports and solved assignments for students.

Global Events

Table of Contents
INTRODUCTION...........................................................................................................................2
Tasks................................................................................................................................................2
1 Examining global events industry and different types of events within society......................2
2 Understanding factors influencing development of event industries on local and global level
.....................................................................................................................................................4
3 Undertaking evaluation of key factors influencing development and role of event industry...5
4 Using critical evaluation techniques and key factors shaping events industry.........................6
5 Producing an evaluation showing impact and legacy range of global events..........................6
Event management strategies......................................................................................................7
Management strategies for events...............................................................................................8
Critical evaluation........................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
1

INTRODUCTION
The global events is defined as the predetermined gathering of people from various
countries around the world. Events are necessary for delivering various large scale social and
economic changes. Study shows about the ExCeL, London which falls under the category of top
leading international conventional centre. Organization is known for hosting large level
conferences, exhibitions, concerts and more for reputed brands. The report covers the major
study about global events its types ans also about the structure. Also, focuses on factors
influencing development on local and global, evaluation of key factors influencing development
and organization of event industry. The study also deals with evaluation techniques used and key
factors influencing. Also, about the value impacts, management strategies for event
development. Lastly the report include strategies for event industry and the impact of global
events on different levels of environment and its various strategies used for supporting event
development for the future sense.
Tasks
1 Examining global events industry and different types of events within society.
Global events industries are companies divided into sub groups on the basis of their type,
region focuses on providing activities consisting wedding, meetings etc (Kharouf, and et.al.,
2020). International events aims in increasing the range and profitability. Various events includes
Mega Events: This consists of organizing huge scale events including Olympic games,
football world cups etc. for gathering of people across the national boundaries. These aids in
attracting visitors, increasing the reach of both nation and event industry. Also impact on the
costs occurrence on nation. With the help of mega events nation may able to profitability, as it
aids in providing regional and national tourism also. And by increasing in sales revenue and
GDP for the nation (Ferrari, and Guala, 2017). Only few countries gets opportunities for
organizing mega events like Olympics, as it requires huge contraction with government of
different countries regarding legal formalities.
Social Events: It includes the events organisation of social gatherings like weddings,
social and cultural events and etc. These were further divided into 'invitation only' under which a
particular had pre decided or selected about the gathering like number of people to invite, the
venue whereas 'open door' consists of an event where everyone is invited without invitation such
2

as church servings, country fairs etc. Social events are necessary for providing face to face
conversation also with possession of around market.
Seminars: Under this type of global event's industry is use for attending various
academic instructions (Mair and et.al., 2021). The main purpose of seminars is to provide the
gathering with some particular knowledge about some topic. It functions on bringing different
individuals together to discuss about particular topic or subject. It provides with the growth in
networking of people present there, with providing aids in improving motivation and
encouragement in between the attendees. Apart from that also aid in marketing and increasing in
brand value for the firm.
Concerts: A concert is a type of social gatherings under which, a public performance
may being delivered by an individual or group (Luchette, and et.al., 2018.). As under this a live
performance is being delivered to attendees. Helps in increasing the spirits in the gathering for
the music, Also helps in increasing the motivation of the people attending. Accessing in
profitability in regarding event company. Aims to change firm and nation's economic
accessibility with each and every concert. For example- when a company organizes a concert
with some famous person than, that concert tends to gain more customers as with the high brand
value regarding famous person. Also aids in increasing domestic products' consumption, event is
based in.
Trade shows: It is type of event under which a company comes together to showcase or
deliver or demonstrate about launch of new product or service by the firm. Majorly these, takes
place in recognizable large cities convention centres for a long time period (Tafesse and
Skallerud, 2017). These aids in providing information about new products and services also for
proper market analysation for acquiring the knowledge about where to promote. Gives an
advantage for expanding company's reach, getting feedbacks and advertising about brand and
increasing brand value.
Major events: These are the events used for attracting population on a wide scale of
excess around 200 to 500 people (Wheeler, 2020). These events includes speaker session which
involves in a guest speaker delivering or presenting on a topic. Also aims in good and wide
exposure about the topic or meeting. Also improves long term investment from the main
investors and raising the profile of city under which event takes place.
3

These types of events required by country-wide for increasing their nations growth also
for meeting and marketing of new products. Also aids in improving country efficiency for the
long run along with providing nation with an upward shift in the economical sector. The value
and contribution of events to international economy in various more methods of providing
country with adding more values and effectiveness.
2 Understanding factors influencing development of event industries on local and global level
Al tough the development of event industries is recognizable in the current scenario, as
more and more reputed companies tends to promote themselves and products with the help of
various events organizing internationally (Elia, Margherita and Passiante, 2020). These are
factors influencing development of event companies
Technologies: One of the major factor influencing in growth of event firms as with the
usage of technology world have became a smaller place. Many people and companies tends to
use technology as their one of the main sources for promotion. As technologies provide both
positive and negative impact. For the global level technologies tends to make it easier for event
management companies outside of nation to promote services or new good to a large level. With
the aid of new technology advancements companies may easily with livestreaming or etc, both at
international and local level (Choe, Lehto, and Lee, 2019). After the impact of COVID
enterprises made strict rules regarding any events, livestreaming, virtual event platforms and
social distancing techs get a boosts in today's time.
Social Impacts: These includes weddings, meetings and networking of various crowd
coming together for same aim. Social impacts as large no of gathering is available in a particular
wedding and the number of attendees may more than invited, which leads to an increase in costs
for the management to suffer. Also after lock-down government have put some barriers on both
local and global for event industries to follow, as according to new laws only fixed number of
attendees need to be present in local weddings and meetings. And for international, legislation
provides with law with only attend the gathering under the case of urgency.
Environmental: The environment does impacts largely on the development of event
company's in both national and internationally. Government of all nations requires event
management firms to regulate on certain conditions for maintaining sustainability. As with
having large number of gatherings in a certain area results in a big spike in pollution in all forms
land, air and water. Besides while invited for some meeting or wedding for reaching venue,
4

pollution from vehicles causing destruction of air. It impacts also when availability of large
crowd causes noises and other disturbances which leads to improper sustainability.
Employment creation: Factor influencing event management companies both nationally
and international ways, earlier no. of social events were high for employment generation and
profit maximization. With the new change in laws and trends became quite hard and problematic
for new employment. As new laws suggest about acquiring fixed number of employees for
separate event companies (Breier, and et.al., 2021). New legislation also aims for providing
customers or attendees with proper facilities with fewer people. Not just on local but for
increasing international audiences may lead in more of employment generation, as when
organisation move towards international level tends to expand and leads in recruitment of new
employees hence results in employment generations.
Economic: Another factor influencing the growth of event firms as with the continuous
changing economic policies may tends to converts the total amount of marginal expenditure
being generated by the region or event. Also with every regional festivals also impacts in the
economical change. With different native festivals being promoted separated in different nations
and at international level tends to attracts new customers tourists will aids in a upward shift in
economies of scale and revenues formation.
With the given factors impacting event industries for developing in local and
international business. Messing up with old terms of working and replacing with the new ones
leads in less expand in local and global markets. For example ExCeL,London may faces issues
influencing their growth in the international marketplace. Moreover to increase local domestic
brand value and increasing new customers from around the world.
3 Undertaking evaluation of key factors influencing development and role of event industry
Positive Impacts leads to various changes in the structure and organization of event
management companies as, with an exponential increase in the sales for the firm and nation both
to evaluate (Gehrke, 2020). Also aids in excessive cost reduction for betterment working of
economy. Another positive impact may to increase in more techniques and technological
advancements for the companies. Firms may able to expand business in other than domestic
nation for expansion of business and goal achievement. With the increase in the GDP and
revenues earning by nation's economy also aims to provide with positive impacts on nation's
economy.
5

Whereas different negative impacts faced by the enterprises in terms to legal categories,
as firms need follow new set of rules and regulations for their betterment. After the impact of
COVID companies have to make limited entry for the attendees. Another impact faced by firms
of maintain environmental sustainability by taking corrective measures for preventing
unnecessary pollutants and making environment better.
4 Using critical evaluation techniques and key factors shaping events industry
Majorly related with the concern about the working, checking and analysing about
various key factors influencing (PHUONG, 2021). As event company plays a vital role in society
with providing aids of increasing motivation and encouragement of personnel. Also by
introducing brands and their new products in the market works both ways in favour of brands
promoting and event firms. Techniques including technological advancements, increasing
employment creation and better environmental accessibility aids firms in expanding company's
business in both local and international terms. While playing a vital role in society with
spreading various culture awareness with different countries, also helps in providing general
awareness with interacting with different groups for the betterment.
5 Producing an evaluation showing impact and legacy range of global events
The event industry puts a large impact on environment in which operating in both
negative and positive ways for the betterment of industries. Evaluation shows impacts on
economic with providing various positive aspects as having public prominence and marketing.
By capital expenditure incurred on facilities required for conducting the event. Also by
increasing tourism in international context with in-addition of providing country with new
generated revenues. The aggregated impact on economy for all expenditure may works in
regards multiplier ratio for the nation (Rakesh, and Krishan, 2021). Also on the host
communities and stakeholders for increasing the world share value between the shareholders.
With providing nation in increase in economic impact by gaining fundings and financial services
from other country economy.
It does puts and impact on environment for any country in positive ways by providing
with stabilization in the field of sustainable development. With the legal consideration by the
government and new rules aids both event industries and nation's environmental betterment. As
new laws aims at decreasing the pollution by lowering the size of gatherings. Been recorded that
with a huge group emitting more pollution than usual individuals and creating more pollution to
6

the environment in air, water and land. Whereas in the negative form event firms emitting more
problems than individuals as after amid of COVID new laws may have been initiated about less
to none gathering of people with not more than 5 people in as single group. While many
opportunities being considered for also improving CEM or corporate Environmental
Management being developed in various countries, as well as barriers for business along with
consisting sustainable development. One of the positive impact or consequence of attention
focused on events with an increasing demands and motivations for various types of events to
coordinates.
Value does also impact for global events industry, with high value and reputed firms
tends to obtain more customer base in compare for industries with fewer values. Event firms with
high values sets to deliver their customers with more efficient and satisfaction. It does provides
an impact on country's economical situations with, high value organization to attract more and
more of new customer base and providing them with best services possible. With an organisation
having less value, it may be quite hard for getting new customers and expand into new markets
and even grabbing the opportunities which may tends to change brand value for firm. For
example while organizing concert or event inviting famous entrepreneur or singer or dancer
leads increasing value for that firm and nation both.
Legacy of an event is defined as the long term positive impact being on a particular area
either culturally, socially or economically. When an event industry host a major event in
particular region or nation the, aids in hosting country and region. With an increase in sales for
nation, moreover increasing in GDP of nation. Huge sales rise in hosting country's domestic
products. For example if ExCeL,London host a major or mega event like Olympic leads to a
huge boost in economy of London, as with the engagement of tourism from around the world.
Also, aids in increasing the sales revenue for the nation, besides the region in which event takes
place under country also face rise in sales for all small businesses. Market value for their
products increase and having or choosing domestic products over other.
Event management strategies
Event management strategies are necessary in order to move ahead with fresh ideas as well as the
decision that are necessary for people to deal with the right amount of events and the process of
taking charge over them. The major essence of every management criteria will deal with the key
aligning point that are a part of the organisational goals and performance. It is necessary in order
7

to deal with this key aspects in order to make sure that the tasks are perpetual and are completed.
Global events will form a reputation for the entire organisation and that can successfully move
ahead with planning and incorporation of all the strategies (Clark and et.al, 2017). This execution
will entirely depend upon how fast the planning criteria is being able to move ahead. This can
also define the performance of the organisation with respect to the events that are to be adhered.
Management strategies for events
Sharing event with media: this is one of the prominent criteria that will have to be dealt because
in order to deal with the attention of people it is also necessary to share idea with media. It will
bring about a proper reputation for the entire event on a global basis.
Live promotion: the live promotion of events are nowadays on the verge of being the best. This
will try to help people to solve their queries as well as negotiations which are a part of bringing
about barriers. It is also necessary to move ahead with the process of live promotion to make sure
if people are being able to understand the entire concept of an event (Clark and et.al, 2017).
Develop social media: social media is one of the best forms of promotion in order to make sure
that the events are reaching people. These are also one of the best strategic management for the
entire events industry in order to make sure that people are being able to deal with the right
decisions. Hospitality and events in this context are said to be one of the theoretical aspect that
an industry deals with. The strategic management is also one of the prominent criteria in order to
deal with this particular event industry and therefore it is necessary that social media landing
pages will have to be specifically managed.
Critical evaluation
There is a greater impact of global events on various Industries. The level of environment that is
being maintained by global events is said to be one of the strategic orientation which can be
supported over a responsible basis. There is an advantage that people can get to incorporate the
standards of a particular event and they can also utilise the measure of services. The
disadvantage is that many people will not be able to understand the prospect unless and until it is
properly conveyed (Rowe, 2017). Therefore communication plays a major role in highlighting
the choices of any event industry and that can go in support of all the measures which can be
highlighted. The responsible Industries will have to make sure that people are understanding the
right set of data because it is not until when a proper understanding is fortified that people can
get to utilise them.
8

CONCLUSION
From the above study it has been concluded that event industry required for nations to
increase sales and revenues for the country. The report delivers the global events industry with
different types, explaining the factors influencing development of event industries in local and
global markets. Further describe role of event companies and their influence on market along
with critical evaluation techniques and evaluation showing value, impacts and legacy of global
events in varied nations. Study shows about review management strategies required for
responsible event development with management strategies required in event industry for
delivering responsive events and how recently being developed. Lastly it concludes impact of
global events on different levels of environment with the proper analysation or evaluation of
various strategies used by industry for future event development.
9

REFERENCES
Books and journals
Breier, M.and et.al., 2021. The role of business model innovation in the hospitality industry
during the COVID-19 crisis. International Journal of Hospitality Management. 92.
P.102723.
Choe, Y., Lehto, X. And Lee, C.K., 2019. The impact of community attachment and
ethnocentrism on residents’ perceptions of the social impact of a mega-event.
International Journal of Tourism and Hospitality Research. P.75.
Clark and et.al, 2017. Human capital challenges in the events industry of Canada: finding
innovative solutions. Worldwide Hospitality and Tourism Themes.
Elia, G., Margherita, A. And Passiante, G., 2020. Digital entrepreneurship ecosystem: How
digital technologies and collective intelligence are reshaping the entrepreneurial process.
Technological Forecasting and Social Change. 150. P.119791.
Ferrari, S. And Guala, C., 2017. Mega-events and their legacy: Image and tourism in Genoa,
Turin and Milan. Leisure Studies. 36(1). Pp.119-137.
Gehrke, G., 2020. 15 Researching the Future of Event Education. Events-Future, Trends,
Perspectives: An International Approach. P.295.
Kharouf, H. And et.al., 2020. Understanding online event experience: The importance of
communication, engagement and interaction. Journal of Business Research. 121.
Pp.735-746.
Luchette, K. R. And et.al., 2018. Optimizing collegiate EMS resources during major events. J
Coll Emerg Med Serv. 1(Suppl 1). P.S39.
Mair, J., and et.al., 2021. Social impacts of mega-events: a systematic narrative review and
research agenda. Journal of Sustainable Tourism. Pp.1-22.
PHUONG, L. C. M., 2021. The Impact of COVID-19 on Stock Price: An Application of Event
Study Method in Vietnam. The Journal of Asian Finance, Economics and Business.
8(5). Pp.523-531.
Rakesh, S. And Krishan, K., 2021. Sustainability Impact of COVID-19: Insights for the Event
Tourism Management Industry. Journal of Business and Social Sciences. 2021(02).
Rowe, 2017. The Value, Scope and Cost of Conferences: looking beyond the Events industry. In
p. Symposium (Vol. 5788).
Rowe, 2017. The Value, Scope and Cost of Conferences: looking beyond the Events industry. In
Tafesse, W. And Skallerud, K., 2017. A systematic review of the trade show marketing
literature: 1980–2014. Industrial Marketing Management. 63. Pp.18-30.
Wheeler, D., 2020. Barcelona, a musical olympus? Live concerts, club cultures, television and
city branding. Journal of Spanish Cultural Studies. 21(1). Pp.79-96.
10