Comprehensive Analysis of the Global Events Industry and its Impact

This report provides a comprehensive analysis of the global events industry, examining its structure, organization, and the various factors influencing its development. The report explores the diversity within the industry, categorizing events by size and content, and detailing the key components and stakeholders. It delves into the factors driving industry growth on both global and local levels, including the economic contributions of events and the increasing demand for diverse event types. The study evaluates the impacts and legacy of global events, considering social, cultural, political, environmental, and economic perspectives. Furthermore, it examines review management strategies for supporting responsible event development, including models for environmental management. The analysis also covers the positive and negative factors of the macro environment impacting decision-making and organizational behavior within the global event industry, providing recommendations for improvements and a SWOT analysis. The report concludes with approaches to effective planning and the overall implications of these findings.

GLOBAL EVENTS

Table of Contents
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
Analysing the diversity of global events industry with its structure, organization and role of
various types of events in the society..........................................................................................3
Factors influencing development of event industry on global and local level............................4
Evaluating key factors influencing development, structure and organization of events industry
.....................................................................................................................................................5
Key factors influencing and shaping the event industry with the role they play in the society..6
Evaluating value, impacts and legacy of a range of global events on the environment in which
they are operating........................................................................................................................6
Use of review management strategies for supporting responsible event development...............7
Management strategies used by event industries........................................................................8
Impact of global events on different levels of environment and strategies for supporting
responsible event management...................................................................................................8
PART 2............................................................................................................................................9
Positive and negative factors of macro environment impacting global event industry decision
making and organizational behaviour.........................................................................................9
Application of specific examples for evaluating macro environment factors influencing
decision making of global event industry.................................................................................10
Recommendations for improvements and solutions.................................................................11
SWOT analysis..........................................................................................................................11
Approaches to effective planning..............................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Global events can be defined as the events that are being organized on an international
level for fulfilling the needs and demands of the population. There are majorly three types of
events which includes private, corporate and charity or fund raising events. Present study is
based on ExCeL Centre which is based in London. It is the largest and most versatile venue in
London 100,000 square meter of multi-purpose space (Bouchon, Hussain and Konar, 2017). This
study includes an analysis on diversity of global event industry on the basis of its structure and
the way in which it is organized. Further this study comprises various factors which influences
the development of event industry for local and global events. This report also consists an
evaluation which reflects the value, impact and legacy of a range of global events industry with
the role that play on society. Lastly this report involves review management strategies that are
used to support responsible event development across a global range of events.
PART 1
Analysing the diversity of global events industry with its structure, organization and role of
various types of events in the society
Event industry is being highly diversified into various aspects which are essential to
understand by an event organization in order to become more effective by providing a
competitive edge in the market. Event industry can be diversified into various types which
consists of size, content and form. These types are further classified in which diversity by size
comprises events like mega events, hallmark events, community and major events. Diversity by
form or content can be categorised as music events, business events, sports events and cultural
events.
Structure and components of event industry includes event organizations, event
management companies, suppliers, industry associations, venues, etc. These are the various
structure and components of event industry which divided them according to the structure and
components of events (Caputi and et.al., 2016).
Diversification according to size
 Mega Events: It can be defined as an event which is a one time sporting event that is
organized on an international scale by a special authority and yielding which may include

high levels of media coverage for the host community as per the size and significance of
the events,
 Hallmark Events: These events majorly includes fairs, sporting, exposition and cultural
events of international status that are being held on a regular basis or one off basis.
 Major Events: They can be determined as events that are being taken place as sports
events, cultural festivals, etc. which brings significant benefits to the economies of cities
and regions where they are hosted.
 Community Events: This type of event refers to a planned gathering on a public
property which may have more than 50 people which blocks or reserves access to a
public property.
Diversification according to form or content
 Music Events: It refers to those types of events which involves live performances of
singing and instrument playing which is being presented as a theme like folk, jazz,
classical music, etc. These events may be private, Corporate or a charity event.
 Business Events: These types of events involves events like meetings, conferences,
product launching, or similar kind of events which are being regarding to a business
activity is known as a business event.
 Sports events: This can be defined as a type of event which includes involvement of a
sport such as cricket, hockey, badminton, etc. These events are being conducted on a
large and small basis which may be a social or a business event.
 Cultural Events: It can be determined as an event which relates to a specific culture that
is being representing a culture which may relate to music, art or any similar type of thing
(Corallo and et.al., 2019).
Factors influencing development of event industry on global and local level
It is being observed in a recent period that event industry is the fastest developing
industry around the world. This is being highly diversified and growing day by day through
bringing creativeness and innovations in events. There are several factors influencing the
development of event industry which are being discussed as follows:
Value and contribution of events to the global economy
Events have played a significant role in developing the economy of various countries by
promoting the significances of the country by organizing different events that attracts tourists to

the country. Organizing events on a global level increases the attraction of tourists towards the
country which results in bringing foreign economy to the nation and increasing the GDP of the
company. Internation event companies are providing their services globally that is also helping in
bringing the foreign currency in the country which increase exports by decreasing imports.
Government is also providing special benefits to the event companies for exporting their services
which helps in development of event industry. Local event companies attracts more tourists
whereas global event companies attracts less public than local event management companies
(Devine and Devine, 2017).
Demand and motivation for various types of events
There is a sudden increase in demand for various events is being observed. People are
demanding some exciting and entertaining events which fulfils the needs of the population by
providing appropriate satisfaction for their needs. Many concerts and entertainment events are
being organized by event organizations as they are being motivated by the population for
creation of such events which fulfils the desire of society. Demand of these types of events has
increased the development of event industry. Local events are in high demand for weddings and
entertainment events. Global event companies are being called on specific events which are on a
huge level.
Global expansion and opportunities for the events
Events are being taking place on a huge level majorly in the section of weddings. In a
recent period, there is a sudden increase in craze of population for destination weddings. These
destination weddings have increased the business of events globally by providing their services
at the famous destination wedding venues which has increased the opportunity for the expansion
by the event industry. Local event companies have the opportunity to organize large destination
weddings at their place whereas global event companies have chance for organizing weddings by
going at a specific destination (Godwin and et.al., 2015).
Evaluating key factors influencing development, structure and organization of events industry
There are many factors which have influenced development, organization and structure of
events. The major factors which influences the event industry are being discussed as follows:
 Current and future trends: There are various trends which have influenced the
structure and development of event industry. The major trend of destination wedding has
increased the number of weddings at specific destinations which have increased the

significance of destination wedding. There is a different structure for destination wedding
which majorly influences event industry in selecting appropriate venues for destination
wedding.
 Increased demand for concerts and entertainment events: There is a sudden increase
in craze of society for the concert and entertainment events which has increased the
interest of people towards these events and make a source of relaxation for them to spend
their quality time by participating such events. Structure of these events are based on the
population of the region and the number of public which can be targeted for making an
event successful (Jalees, 2017).
However, different types of events have their specific roles in the society. Like, private events
majorly includes weddings, birthday parties and related activities in which only invited public is
being called up by the organizer. Corporate events includes business conferences, product
launching and related events which fulfils needs of a specific group of businesses in the society.
Key factors influencing and shaping the event industry with the role they play in the society
Summative evaluation technique is being used for evaluation of key factors influencing
several aspects of event industry. It has been determined that increasing demand for event
management companies for being stress free in public events has increased the significance of
event industry. Likewise, increasing trend of concerts and entertainment events has made it
effective for the event companies to earn through some music concert and entertainment events
which also gets sponsors and also facilitates funding by sponsorship by the event company.
Evaluating value, impacts and legacy of a range of global events on the environment in which
they are operating
Events play a significant impact on the environment in which they operate. The impacts
are positive as well as negative which are essential to identify in order to become more effective.
Events majorly impacts several perspectives which consist of social and cultural, political,
physical and environmental, tourism and economic.
Impacts and value of global events
 Social and cultural: The basic purpose of events is primarily socio cultural for
celebrating or strengthening the local culture with a consequence to enhance a sense of
identify amongst local communities. These events lead to increase in tourism and
associated economic benefits.

 Political: Global events are playing an essential role in developing the economy of the
region where they operate. This play a vital impact on political environment of region by
influencing its policies for development of business in order to improve economy by
improving businesses of the regions.
 Physical and Environmental perspectives: There are several global events taking place
in which awareness in public is being generated for being environment friendly and
become fit by performing several events for being fit and saving environment of the
region where they operate. Companies contribute in several social events which
encourages such events.
 Economy and Tourism: These global events increase the number of tourists by
attracting them through various global events that makes provides the significance of the
region and increases interest of the tourist to become the part of such global events
(Jones, 2017).
Legacy of global events on environment
 Sustainability: Global events helps an economy in becoming sustainable by providing
many opportunities for attracting tourists and creating businesses for making the
economy sustainable in the region where they operate in. This sustainability can help the
economy in providing several opportunities for business in the region where the company
operates.
 Increasing business and employment opportunities: These global events helps in
providing benefits for the economy by increasing business opportunities by attracting
more tourists to the region. If the number of tourists are being increased there are several
facilities that are required by them, these facilities can be fulfilled by the company in
order to start new businesses and employ more people (Kwon, Lee and Kim, 2015).
Use of review management strategies for supporting responsible event development
In order to review the management of a responsible event development, there are various
review management strategies which are being discussed as follows:
Corporate Environmental management model (CEM)
This can be determined as a model which demonstrates the way in which private sector
firms address environmental and natural resources issues while promoting the value of
shareholder and linking the firm's market objectives to the environment. This strategy can help

ExCeL in developing new capabilities to enhance competitive strategy and incorporate
environmental objectives through responding to new market opportunities, regulatory pressures
and social demands. This review model can used for supporting responsible event management
(Mallen and Adams, 2017).
Balance Scorecard Model
It can be referred as a framework which is being used to implement and manage the
strategies that are being executed in an organization. ExCeL can use this model for analysing and
reviewing the responsible event management in order to meet customers expectations by
providing best services of event management.
Management strategies used by event industries
The most basic management strategy which is being used by majority of event
management companies includes five step model which consists aspects like planning,
launching, promoting, managing and wrapping. These five practices are being performed in
order to manage an event. First step in this strategy is planning the event, in that framework is
being prepared in which manner of activities is being involved. Secondly this involves launching
of event in the most effective manner. Thirdly, event is being promoted for the purpose of
making it success by attracting maximum number of population in the event. After this managing
the event is being done by following the framework which is being developed in first stage.
Lastly, as per the framework the event is being wrapped in the most effective manner for
preventing any inefficiency (Müller, 2015).
Impact of global events on different levels of environment and strategies for supporting
responsible event management
Global events play a vital impact on different levels of environment negatively as well as
positively. The major negative aspect of global events is high level of resource consumption.
Huge events consumes energy on a mass level which increases the consumption of natural
resources. Whereas in the positive aspect, global events helps in attracting tourists in the country
which significantly increases the economy through increasing number of businesses of the region
and providing employment opportunities which effectively improves the economy of the
country.

PART 2
Positive and negative factors of macro environment impacting global event industry decision
making and organizational behaviour
Macro environment factors can be determined as the factors which are influencing
indirectly externally. It includes all the external factors which effects decision making of an
organization. If an event company plans to organize a global event in the foreign destination,
there can be several factors which can effect the event. These factors can be determined by
PESTLE analysis which is being discussed as follows:
PESTLE Analysis
 Political Factors: This can be defined as aspects that are being intervened by
government in the economy or a certain industry. Political aspects includes government
policy, corruption, tax policy, labour law and many similar aspects regarding rules and
legislations formed by government. In order to conduct an event outside the country, an
organization must ensure commercial regulations of the specific region where the event is
to be organized (Spracklen and Lamond, 2016).
 Economic Factors: It involves all the economy related factors which can influence the
performance of the organization. Its aspects includes interest rates, inflation rates,
economic growth and unemployment rate. These aspects are to be considered by the
event industry before conducting an event in a specific region. If the inflation rate is high
in the region, then event can be on a risk of failure because of high inflation rate.
 Social Factors: This can be determined as demographic characteristics, norms, values
and customs of the population within which organization wants to perform business
activities. It comprises aspects such as growth rate, age distribution, income distribution,
health consciousness, cultural barriers and lifestyle attitudes. In order to make the event
successful in another region, organization must ensure all the social aspects which
influences buying behaviour and consumer demand of the customers of the particular
region (Tyson, Jordan and Truly, 2016).
 Technological Factors: This factor basically emphasizes on innovations in the
technology that effects the operations of the organisation. In order to being competitive it
is essential to be updated with the technology. Event companies must ensure the

requirement of tools and equipments required for processing the event in the most
effective manner.
 Environmental Factors: This involves all those aspects which can effect the operations
of an organization with the perceptive of environment which includes environmental
offsets, weather, climate and changes in climate. In order to make the event successful,
all these aspects must be considered that the region where the event is to be organized is
in the appropriate location and there is no rain in the certain period of time when the
event is going to be organized.
 Legal Factors: These factors are majorly related to the political factors, but in addition
this factor involves aspects like discrimination laws, anti trust laws, consumer protection
laws and employment laws. Event companies must understand the existing acts and
protocols of the specific region in order to execute the event in the most effective manner
(Werner, Wang and Gray, 2018).
Application of specific examples for evaluating macro environment factors influencing decision
making of global event industry
The example is being discussed below in the form of case study.
Case Study on a sports event at ExCeL
If the company wants to execute a cricket tournament, there are various macro
environment factors that are to be considered while decision making of the event. Firstly,
political factors must be considered in which terms and conditions for organizing a cricket
tournament in the country. Further, Economic condition of the region of targeted customers who
are being segmented as customers, ExCeL must ensure that purchasing power of the consumers
at the region is well enough to purchase tickets for the event. Social factors which must be
ensured is age distribution, as most of the young people are more interested in cricket matches in
comparison with elder group of consumers. Technology use must be considered while offering
the tickets of the event. Lastly, legal and environmental aspects are to be considered for
preventing any unlawful activity in the event (Ziakas, 2015).
Recommendations for improvements and solutions
It is being noticed that in the case study there are various macro environmental factors
discussed. It is being recommended for the case study event which is a cricket tournament, that
ExCeL must ensure the weather telecast before planning the dates for conducting the tournament,

as in most of the cricket tournament, the factor which effects the most is rain that is an
environmental factor which must be ensured before planning the dates for the event.
SWOT analysis
SWOT analysis is important for the business and event industry in order to know strength
and weakness of event. Here, is select SWOT analysis of Olympic games organize which are as
follows:
Strength:
Strength is presence a internal opportunity of event industry. This is effective and
valuable for the business and its growth factors. The participation of the world's top sportsmen in
the every discipline manner. The other strength of Olympic is opportunity for host country to
showcase themselves to the rest of the world.
Weakness:
There are various weakness of Olympic event is boycotting by the various and different
countries due to political reasons. The various indicate of doping the questions mark on the host
and actors of the event. This weakness are internal growth factors in the negative manner.
Opportunities:
Opportunities are create a great opportunity for event for improve their strength and
weakness of business in effective manner. This include more sports like cricket to get the higher
viewership in the country. The another opportunity is higher anti doping standard to restore the
confidence of fans. Other opportunity is created for event planner for promote their business and
event planner with others by performing great in the business.
Threats:
Threats are affect to event and event industry by implementing new technologies and
better plan of event planning. This have threat from terrorist attacks is likely in order to increase
in the future. Other threats, as more sports become the more professional in the nature. This
effectively possible that in the future plan and growth factors.
Approaches to effective planning
Planning is most important factor for event industry and in order to organize Olympic
games. This helped to make event at success and meets needs or expectations of customer and
their fans. There different stages which are help to organise event successful in effective manner.
There are different steps for build event such as develop vision of Olympic games, put team

together in the event, create event budget and select venue, identify event partners and develop
event branding. This process is help to build effective event planning by eradicate issue with
managing risk at event place and manage threats. Like: risk management is refers safety,
sponsorship and funding.
For example: at the venue it is important to provide safe environment and use safe
equipments. Its is very important to provide safety to their staff because they are work with those
equipments as well as customers.
New trends and issues are affecting specific events at worm place like promotional tools
which can affect to London’s ExCeL planners in the Olympic because customers wants those
techniques and equipments in their event. Promotional tools can affect to event management by
expectations of customers.
CONCLUSION
From the present report, it can be concluded that global event industry is diversified in
several categories which are on the basis of size, form and content of the events. This study
concludes that there are various factors that influences developments of events which includes
demand and motivation for various types of events, value and contribution of global events to the
economy and many more factors. Further study concludes there is a significant value, impact and
legacy of the global events which have negative as well as positive aspects. Lastly, this report
concludes that there are several micro and macro environment factors which influence the
decision making of global event industry, the factors of macro environment are being determined
with the help of PESTLE analysis and factors of micro environment can be determined with the
help of SWOT analysis.

REFERENCES
Books and Journals
Bouchon, F., Hussain, K. and Konar, R., 2017. Event management education and event industry:
A case of Malaysia. MOJEM: Malaysian Online Journal of Educational
Management. 3(1). pp.1-17.
Caputi, N. and et.al., 2016. Management adaptation of invertebrate fisheries to an extreme
marine heat wave event at a global warming hot spot. Ecology and Evolution. 6(11).
pp.3583-3593.
Corallo, A. and et.al., 2019. Cultural Event Management and Urban e-Planning Through Bottom-
Up User Participation. In Smart Cities and Smart Spaces: Concepts, Methodologies,
Tools, and Applications (pp. 1011-1030). IGI Global.
Devine, A. and Devine, F., 2017. A Strategic Approach to International Event Tourism.
Godwin, D. and et.al., 2015. Real time event viewing across distributed control system servers.
U.S. Patent 8,983,630.
Jalees, T., 2017. Event Roundup: Global Conference on Business and Social Sciences Series
(GCBSS) 2016. Market Forces. 11(2).
Jones, M.L., 2017. Sustainable event management: A practical guide. Routledge.
Kwon, W., Lee, H.W. and Kim, Y., 2015. Creating shared values between national team identity
and global event brand equity. Social Behavior and Personality: an international
journal. 43(2). pp.177-192.
Mallen, C. and Adams, L.J., 2017. Event management in sport, recreation and tourism:
theoretical and practical dimensions. Routledge.
Müller, M., 2015. What makes an event a mega-event? Definitions and sizes. Leisure
Studies. 34(6). pp.627-642.
Spracklen, K. and Lamond, I.R., 2016. Critical event studies. Routledge.
Tyson, B., Jordan, L.A. and Truly, D. eds., 2016. Sports event management: The Caribbean
experience. Routledge.
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.

Ziakas, V., 2015. For the benefit of all? Developing a critical perspective in mega-event
leverage. Leisure Studies. 34(6). pp.689-702.