Global Events Industry: Diversity, Factors, and Management Strategies

This report examines the diversity of the global events industry, factors that influence it on a global and local level, and the impact and legacy of different types of global events. It also evaluates management strategies for responsible development of global events. The report focuses on Hallmark events, Major events, and Mega events, and their structure, organization, and development. The report also discusses the factors that shape and influence the global events industry, such as culture and the dynamic market. The legacy of different types of events is also evaluated, including their positive and negative impacts. The report concludes with recommendations for management strategies that ensure responsible development of global events.

Global
Events

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Examination of the global events industry diversity ..................................................................1
Explanation of factors which influence the global events industry on global and local level ...3
Evaluation of main factors which impact on the structure, organization and development of
the event industry........................................................................................................................5
Depiction of the primal factors which influence and shape the global events industry ............5
Evaluation of impact value impact and legacy of range of global events ..................................5
Appraisal of management strategies which ensure responsible development of range of global
events...........................................................................................................................................6
Critical assessment of management strategies used for responsible development of range of
global events and their recent development ...............................................................................7
Critical assessment of global events on different levels of environment and strategies used for
responsible events development .................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Excel London is east London based events exhibition and convention centre which has
hosted various consumer, commercial, private and public events. This report focuses on the
global events industry and ways in which current market can be exploited Excel Exhibition
centre. This involves understanding the diversity and factors which influence the global events
industry. Critical evaluation of the factors which shape the events industry, structure,
development and organization of global events is included in this report. Legacy of various
global events is covered in this report along with review of management strategies which assist
in responsible development of global events is provided in this report. In addition to this the
impact of global events on different levels of the environment and strategies which support
responsible event development is included in this report.
MAIN BODY
Examination of the global events industry diversity
Hallmark events: These events became an important part of identity of town or region and gain
interests of tourists for short time period because of their unique nature. Such events are
recognized as being valuable additions to destinations event portfolios (Campo and et. al., 2020).
An example of hallmark event is the Edinburgh international festival which is an annual
performing arts festival brings top class performers from music, theatre and Opera to perform in
the festival.
 Structure: The factor that Hallmark event are part of the cultural identity of a region
affects the structure of the Hallmark event. The event management companies are an
important part of the structure of hallmark events (Dar and et. al., 2021). In case of the
Edinburgh International festival specified body of International festival team overlooks
completion of the event. The industry suppliers in case of Hallmark events include
network of suppliers who work together for effective completion of the event. Venue
management is also important element of structure of Hallmark event. In case of the
Edinburgh International festival the venue of the event The Edinburgh Playhouse, Usher
Hall, Festival theatre etc. The industry association such as British Arts and festival
association, International events festival association and others play an important role n
completion of hallmark festivals.
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 How the event is organized: These types of events are usually supported by specific
organizations undertaking event management activities by collaborating with government
authorities. In case of the Edinburgh international festival is supported through the
PLACE programme a partnership between Scottish government- through creative
Scotland- the city of Edinburgh Council and Edinburgh Festival.
 Place of event in society: Hallmark events provide multiple benefits to residents
beginning with ecf0onomic gains associated with building tourism industry, lessoning the
negative effects of seasonality of demand and become a tradition in terms of
independence (Di Vita and Morandi, 2017). The Edinburgh International festival has
helped drive tourism in the region and given competitive advantage to the event tourism
portfolio.
Major events: These events are distinguished by the large amount of media coverage with more
than 200 people attending the event. Significant economic advantage is created by hosting such
events and becomes prominent characteristic of international calender. British Formula One
Grand Prix is an example of significant major event held in UK.
 Structure: These types of events attract international attraction and the structure of such
events is complicated in nature. The Event management companies in case of major
events are contracted by the organizers to ensure effective completion of the event. In
case of the grand national horse race UK, the horse-race event is organized and managed
by the owner of the venue The Jockey Club. Since major event are watched
internationally, the supplier network for such events consist of large number of suppliers
including broadcasting firms and others. In case of grand national UK, Randox health is
the sponsor of the event which suppliers financial capital needed for completion of the
event. The association related with this event is racecourse association of UK which is an
industry association of horse racing industry.
 How the event is organized: Major events are usually organized by specific
organizations or bodies who are able to manage international activities of the event
(Gordeeva, Sheldon and Sychev, 2020). In case of the grand national racecourse the
event is organized by The Jockey Club which owns the racecourse in which the event is
held.
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 Place of event in society: Major events play an important role in society as they
economically benefit the host region and promote the event on an international scale,. In
case of the Grand national racecourse the event helps promote horse racing sports on an
international scale.
Mega events: These are large scale events which have more than 1 million visits and are
perceived as must-watch event (Jia and et. al., 2019). An example of mega event is the West
Asian Games which is a continental multi-sports event held every four years among athletes
from all over West Asia.
 Structure: Mega events include large scale sporting events such as West Asian Games
and are hosted by sports federations of different nations. The west Asian games
federation undertakes the task of identification of host nation and organizing large scale
event between different nations in friendly manner. The venue is selected on the basis of
bidding process and the associated related with tins event is west Asian games federation.
Large number of industry suppliers are related to such events who provide
accommodation, food and other services to players and broadcasting mega event.
 How the event is organized: Mega events are organized years prior to the actual event
and the host the the event is usually selected thorough a bidding process. There are many
sponsors associated with mega event and a primary governing body overseas effective
completion of the event. For example the bidding processes of the West Asian Games is
conducted by West Asian Games federation.
 Place of event in society: Mega events are highly important for the society because they
not only create shared experience for large number of people but also are financially
advantageous for hos regions (Jones, 2020). In content of the West Asian Games, the host
region receives financially returns from the event because of increased tourism and the
event unites nations across West Asia to participate in friendly sports which also unites
the audience of different countries.
Explanation of factors which influence the global events industry on global and local level
Hallmark events:
Niche Audience: The uniqueness of the Hallmark event attracts niche audience to the
event which limits the financial return of the event. This factor influences the profitability and
success of Hallmark events as limited number of audience attends the event. On a local level this
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factor influences Hallmark event as it helps development of unique industry related to the event
in the region. For example the theatre industry is Edinburgh is blooming because of International
Edinburgh festival. On a global scale this factor of attracting niche audience to specific Hallmark
event in region affects the tourism identity of the region which influences Hallmark events (Juan,
Yi-bing and Ni, 2017) . Hallmark events become part of the regional identity which influences
the event as the Hallmark events are cater to specific regional identity on global scale to attract
tourism.
Community participation: This factor influences Hallmark events on global and local
scale. Festivals and Carnivals enable different communities to participate in celebration of their
identity and also platform for expressing their cultural roots and heritage. For example
Edinburgh International festival provides different communities to honour their cultural identity
and express their cultural roots. On a local level this influences the event as presence of different
communities diversifies the event and leads to positive social impact by uplifting different
communities. On a global level this factor influences the event as it attracts different
communities from around the globe to participate in the event.
Major events
Dynamic Market: The changing and emerging events market influences major events
such as the grand national horse-race in UK. On a local scale 6the emerging event market
influences the event by improving the quality of various industry suppliers and role of industry
associations in effective completion of event. On a global scale emerging event market enables
different organizers to gain international sponsors easily as the events are viewed on an
international scale.
Technological Development: improvement in various technology plays an important
role in making major events such as the Grand National Horse race more sustainable, secure and
improving stakeholder satisfaction (Kim and et. al., 2019). This factor influences the event on a
global scale as technological development of online streaming introduce new avenues for
international broadcasting major events to larger audience. Grand national event also offers live
streaming of various races. On a local scale terotechnological development increase security and
safety of various members attending the event. In case of the grand national event in UK security
technology is used to create safe environment for audience and take action to stop anti social
behaviour during the event.
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Mega event
Employment Creation: Mega event play an important role n generating employment in
the host region by improving tourism and investment in the region. In case of the West Asian
Games of 2005, the event had positive impact on employment creation in Doha, Qatar. This
influences the event on local level as local residents enthusiastically participate to benefit from
economic opportunities. On a global scale employment cratered by mega events showcases the
economic benefit of such events which promotes other countries and governments to host the
event in their region in future (Malagoli and et. al., 2019).
Culture: The culture of the host region of mega event is an important part of the mega
event. At a local level the culture of the host region is incorporated in various parts if the event
such as symbol of the event. The symbol of the West Asian Games of 2005, Doha was
influenced by the culture of the country. At a global level the representation of culture through
mega event helps increase tourism and leads to celebration of cultural identity of the region.
Evaluation of main factors which impact on the structure, organization and development of the
event industry
The participation of community in Hallmark events influences the event on local and
global level and impacts on structure organization and development of various event. The
advantage of this factor is that it helps different communities gain platform for cultural
expression while the disadvantage of this factor is that increased diversity at an event may lead
to conflict (Prathipati, CV and Konatham, 2019). Trichological improvement influences the
structure and way of organizing mega events. The advantage of this factor is that it enables the
event to reach larger audience through online streaming while the disadvantage is that usage of
advanced technology also introduces cyber security risks. Culture of the hist region fluencies
structure, development and the way the a mega event is organized. The advantage of this factor
influence global events is that it helps promote cultural identity of region on global scale while
the disadvantage is that incorporation of cultural elements in mega event may alienate audience
who do not identity with that culture.
Depiction of the primal factors which influence and shape the global events industry
There are various factors which shape and influence global events industry. One of the
primary factors which influence the global events industry is culture. The positive influence of
this factor is that regions and communities are able to gain cultural representation through global
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events. The negative impact is that global events an also become platform for cultural conflict
due to increasing diversity at events. In addition to this, dynamic market of the global events
industry also influences and shapes the industry, The positive influence is this factor is that it has
enhanced the scope of various events. The negative impact of this factor is that changing events
market can also lead to reduced profitability of events.
Evaluation of impact value impact and legacy of range of global events
Hallmark events: The legacy of Hallmark events is that they play an important role in
developing tourism in specific region by improving the tourism portfolio of specific region. In
case of the Edinburgh International festival, this Hallmark event plays an important role in
creating an image of Edinburgh as tourist friendly region with entertainment festival and cultural
diversity (Rahman and et. al., 2021). This creates a positive legacy of naturism from all over the
globe arriving in Edinburgh and providing economic benefits. The negative legacy created by
Hallmark events include vandalism, overcrowding, antisocial behaviour and traffic congestion
because of such events. The overcrowding and traffic issues created by the Edinburgh
International festival negatively affects the daily lives of Edinburgh residents.
Major Events: The legacy of major event such as the Grand national racecourse is the
creation of common entertainment experience for audiences. In addition to this the grand
national horse races have also created positive legacy in terms of enabling talented Jockeys to
participate in friendly competition and win financial rewards. The racecourse where the event is
held also has positive legacy, Aintree Recourse has state of the art facilities and is known for
superior hospitality services. The negative legacy of major events such as grand national horse-
race is the antisocial behaviour created because of such events. Major events are mostly attended
by young audience which an lead to public brawls and other type of anti-social behaviours
happening at such events. In case of the grand national UK, this major event has negative legacy
of large scale fights occurring at the event. One such example s the large scale gang fight which
occurred during grand national, 2019.
Mega events: The legacy of mega events lies in the tangible and intangible structures
created by such events (Rudeva and Simmonds, 2021). In case of the the West Asian games the
infrastructure created by governments for the event has positive legacy as it promotes sports and
tourism in the city after the completion of the event. The government in Doha invested in
maintaining various stadiums used in the West Asian Games, 2005 helped in promontory of
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sports in the country and created opportunities for conducting mega events in the future. The
negative legacy associated with mega events is the environmental damage caused by such
events. These events are conducted on large scale and the carbon footprint created by mega event
such as West Asian games, 2005 leads to large scale environmental damage.
Appraisal of management strategies which ensure responsible development of range of global
events
Risk management: This management strategy is used in global management to crate safe
and secure environment. Security staff is hired at events to ensure crowd control and increase
safety of members in various events (Zhongling and et. al., 2021). This management involves
hiring security staff and also keeping emergency services nearby so that out po control situations
can be handled quickly. It is important to ensure that the security staff of the company is highly
trained so that sensitive situations related to crowds are handled easily. Different types of events
have different risks associated, hallmark events have higher crowd involvement where crowd
surges and crowd surfing are the main risk. Major events can lead to anti-social behaviour by
crowds while mega events have the security risk of criminal attacks. It is important for Excel
London to understand security and safety risks associated with every event and hire trained
security staff to handle various events effectively.
Sustainable event management: This management strategy focuses on reducing energy
usage and improving sustainability of the event in order to minimize environmental damage
caused by various events. Hallmark events have negative impact on the environment because
they lead to traffic congestions (Zhou, Wu and Jin, 2021). Major events cause environmental
damage because of litter created by such events. Mega events lead to large scale environmental
damage because players and audiences travel to the event which creates large carbon footprint.
Sustainable event management helps take action to lower negative environmental impact of
various events. This involves using renewable energy sources and implementing zero-waste
measures, sourcing materials locally and promoting sustainable messages from the platform of
mega events. Excel London will be able to ensure responsible event development by using
sustainable management strategy.
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Critical assessment of management strategies used for responsible development of range of
global events and their recent development
The merit of risk management is that it improves security of the event while the demerit
of risk management strategy is that it can lead to resistance from some event management staff
who are not familiar with such technology. Risk has developed in recent years because of
technological development in the field of security technology (Backman, 2018). Trained security
are dependent on technological equipment to improve security such as AI and other technology.
Sustainable event management has developed in recent years because of advancement in field of
renewable resources. In addition to this different waste reduction techniques and processes have
also contributed to development of sustainable event management. The merit of sustainable
event management is that it helps negative environmental consequences of the events. The
demerit of this management strategy is that adoption of sustainable resources increases
financial investment needed for effective completion of the event.
Critical assessment of global events on different levels of environment and strategies used for
responsible events development
Global events have both positive and negative impact on different levels of the society.
The positive impact of Hallmark event on global scale is that it provides communities
opportunity for cultural expression while on a local level it helps promote cultural identity of the
region. The negative impact of Hallmark event on Global scale is that it creates stereotypical
views about the specific region while on local level it leads to overcrowding. The positive global
impact of major event is that it attracts tourism to the region while on local scale it leads to
promotion of sports. The negative impact of major event on local scale is that it can be used by
corrupt officials to use taxpayers money while on global scale the negative impact of such event
on global scale is that increases antisocial behaviour among supporters of different teams (Jin
and Cheng, 2020). The positive impact of mega event on local scale is employment generation
while on global scale is promotion of sports. The negative impact of mega events on local level
is competition faced by local business firm international firms while on global scale negative
impact is pollution. Risk management strategy for responsible event development has advantage
of improving crowd control while disadvantage of increase reliance of technology. The
responsible management strategy of sustainable event management has advantage of improving
environmental condition of the region while the disadvantage of increased costs.
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CONCLUSION
From the above report it is determined that the global vents industry consists of different
types of events which depicts the diversity of the industry. Hallmark events, major events and
mega events have different impact on society and are part of diverse global industry. Venues,
industry suppliers, industry associations and event management companies are art of the
structure of the events. Global events are influenced by different factors such as dynamic market,
employment generation and culture. Events have both positive and negative legacies and
different responsible management strategies are used for effective completion of the event.
Responsible management strategies for global events such as sustainable event management and
risk management have both merits and demits.
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