Global Events Sector: Macro Environment, SWOT Analysis and Impact

This report provides an overview of the global events sector, examining the impact of macro environmental factors such as physical, economic, political, and legal factors. The report delves into the positive and negative influences of these factors on the international events sector. A SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is conducted to assess the event industry's internal and external environment, highlighting strengths like cost control and talented employees, while acknowledging weaknesses such as high costs and technological limitations. The report also identifies opportunities like liberal policies and sponsorships, as well as threats like the COVID-19 pandemic and rising costs. The conclusion emphasizes the vital role of the event sector in economic development and the importance of strategic analysis for mitigating negative impacts and enhancing performance. References from academic journals support the analysis, providing a foundation for understanding the global events landscape.

Global events

Table of Content
• Introduction
• Positive & negative impacts of macro environment factors on international events
sector
• SWOT Analysis
• Conclusion
• References

Introduction
Global events refers to a physical phenomenon which are taking place for a short period
of time and have a global reach. Usually this events are based on a specific location and
investment is done by public which leads to a huge impact over population and also
development of the region where it is conducted. When taking present scenario global
event industry can be segmented into various groups based on age group, organizer,
region type of event and so on. The events can also be divided into categories such as
musical concerts, exhibitions, sports events, corporate events, festivals and so on.

Positive & negative impacts of macro environment
factors on international events sector
Macro environments are basically external factors which include political, technology,
social and many more factors. It is important for an organisation to analyse such
factors as they impact directly on performance of an organisation. The factors along
with its negative and positive influence on international event is given below:
• Physical & environmental factors
• Tourism & economical factors
• Political factors
• Legal factors

SWOT analysis
It is a tool which assist an organisation to know about its strength as well as weaknesses in an effective
manner. In addition to this, it also help in gaining insight about opportunities and threats associated
with company. BY the assistance of this, an entity is able to develop effective strategies and make
improvements that has positive impact on its performance and profitability level. It is significant foe
event industry to adopt such tool as it assist in leading at market and fight with rivals in an appropriate
manner. The SWOT analysis is performed on event industry are as follows:

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Strengths Weaknesses
 Event sector are competent to control as well a maintain the
level of cost that assist in enhancing revenue level
effectively.
 Event industry’s higher managers and employees are
effective and talented that help in attracting more number of
people which in turn improves productivity as well a
profitability of event industry.
 One of the major weakness of event sector is its cost is high
such as labour, maintenance and many more that sometimes
enable company to earn profits.
 Due to ineffective technology and lack of funds impact
negatively on the performance of event sectors.
Opportunities Threats
 For the event sector, liberal policies is undertaken as an
opportunity as it help in expanding operations at global level
in a proper manner.
 In addition to this, there are various political parties who
give donations and also it gain sponsorship from various
companies due to which event industry is able to meet with
requirements of events and attain profitability.
 In the present situation, hospitality sector facing adverse
issue because of COVID-19 that impact negatively on profit
and revenue of event industry.
 Along with this, there is increase in maintenance cots, labour
cost which does not allow companies to earn higher profits.

Conclusion
• From the above discussion, it is analysed that event sector plays vital role in growth
as well as development of economy whether it is state, local and national level. In
addition to this, there are many types of event which impact on society. It is
significant for event industry to analyse the impact if macro environmental factor on
business performance so that effective strategies were developed to decline negative
influence. SWOT analysis is a tool which is used by companies to examine their
strength and current position that help managers to develop strategies in order to deal
with weakness and enhance their performance and profitability level.

References
• Renssen and et. al., 2018. The global hydroclimate response during the Younger Dryas event.
Quaternary Science Reviews, 193, pp.84-97.
• Tao and et. al., 2020. Volcanic activities triggered the first global cooling event in the
Phanerozoic. Journal of Asian Earth Sciences, 194, p.104074.
• Werner, K., Wang, C. and Gray, C., 2018. Comparative Global Perspectives of Event
Management Education: Lessons from a Sino-German Double Degree Event Management
Program. Event Management, 22(6), pp.1027-1046.
• Xie, Y. and Lin, Z., 2017. Event-triggered global stabilization of neutrally stable linear systems
with actuator saturation. IFAC-PapersOnLine, 50(1), pp.11841-11846.

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