Report: Diversity, Factors & Impacts of Global Events Industry

This report provides a comprehensive overview of the global events industry, encompassing its diverse sectors like concerts, conferences, and exhibitions. It delves into the diversity within the industry, emphasizing the importance of catering to varied audience needs and the structure of event organizations. The report explores factors influencing event development, including technological advancements, economic contributions, and the impact of globalization. It also examines the value, legacy, and impacts of events on the environment, including social, economic, and political dimensions, and provides management strategies for responsible event development, such as situation analysis and event automation. The analysis includes positive and negative impacts of the macro environment and a SWOT analysis of an event.

GLOBAL EVENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
LO1..................................................................................................................................................3
P1 Diversity of the global events industry-..................................................................................3
P2 Factors that influence the development of the event industry-...............................................4
LO2..................................................................................................................................................6
P3 Value, legacy and impacts of event on the environment........................................................6
P4 Management strategies used to support responsible event development for a range of global
events-..........................................................................................................................................7
LO 3.................................................................................................................................................9
P5 PESTLE analysis....................................................................................................................9
LO 4...............................................................................................................................................11
P6 SWOT analysis.....................................................................................................................11
CONCLUSION..............................................................................................................................13

INTRODUCTION
The Global event industry works in many sectors such as music concerts, conferences,
sports events, exhibitions, seminars, corporate events, festivals and many others.
Nowadays, the events differ from cultural event to sporting events, voluntary events to
private musical events, personal celebrations to mega events like press conferences,
wedding ceremony, VIP events, trade show, theme parties, team building events etc.
This report will includes the diversity of the global events' industry such as the different
types of events by size, by form or content. This report will also highlight the events
organizations, by which organisation can know the projects and functions that will
conducted in event. Event plays many different roles in the society and it will directly and
indirectly affects the society, culture and economy. This report will also includes the
factors or elements that will influence the event development. The major impacts of
event like social, political, economic and tourism on the environment and the
management strategies that are helpful to conduct successful event. This report will also
highlights the positive and negative impacts of macro environment on the global event
indusry and SWOT analysis of a event.
LO1
P1 Diversity of the global events industry-
In a current situation, Diversity is very major need for the global events industry.
With the diversity in the events we are able to provide all the basic hospitality of the
audience and efficiently accommodate all their needs and better represent them.
Diversity in the event helps in organizing the events according to the audiences needs.
For the major effectiveness, hallmark events and mega event conducted on the basis of
audience hospitality (Sirunyan and CMS collaboration, 2017) . For creating an effective
event, diversity plays an important role. Keynote speakers, event Brochures, breakout
facilitators and panellists are essential part for conducting effective event. Audiences
and society in the events are continuously growing towards the diverse and ethnic
diversity.
The structure and the components of the event industry
Event organization is the main process, in which company will decide the overall
ambiance of the functions or projects that will conducted in the events. In the Event

organization, organizer will focus on the guest's relaxation, comfort, excitement and the
overall pleasure of the audience (Murdie and Peksen, 2015). Selecting the perfect
ambiance for the event is very essential because atmosphere plays a vital role in
constructing the best event.
Event management companies have a great structure such as event manager,
planner, event coordinator, client service event manager etc. Event management
companies provides several services such as conduct corporate events like press
conferences, corporate meeting, product launches, concerts, commercial events, award
ceremonies, private events and marketing events like opening events, road shows.
Event management companies also handles all the logistic, creative and technical
factors of the event that helps in event success.
A event manager decide the event venue, maybe it is situated inside or outside the city,
and they will monitor all the activities on the event-side. Nowadays, the events differ
from cultural event to sporting events, voluntary events to private musical events,
personal celebrations to mega events. There are various type of events that all are
dependent upon the audience needs- seminars, meetings, trade show, product
launches, board meeting, golf events, business dinner, networking event, VIP events,
conferences, incentive travel, trade fair, press conferences, shareholders meetings etc.
P2 Factors that influence the development of the event industry-
There are various factors that influence the development of the event industry
globally. The growth and emergence of the events industry- event industry is booming
continuously. With the digital technological and revolution the, structure of the event
industry has changed successfully (Maqsood, Mehmood, Maqsood, et.al., 2019) . In
present scenario, the need for large scale events, live conferences, grand exhibition
and seminars have been increasing day by day. This all the factors directly affects the
growth and development of the event industry. With environmental factors, health and
safety factor, costs, logistics and many other factor's organizer wants to make their
event most efficient as possible.
The value and contribution of events to the global economy- global events
positively contribute in the global economy. Events also plays an vital role in growth of

economy and influence the economic worth of the country. It also contributes in the
future economic development of the country (Gehrmann, Monni and Luisoni, 2017).
Business events included more than 1.5 billion associates across more than 180
countries and also generated $621.4 billion of direct GDP.
Management skills in the event industry also influence the development of the
event industry. Management company coordinate the attempts of people with effectively
and efficiently uses of resources to accomplish the desire objectives and organization's
goals. They also conducts planning, leading, directing, organizing, controlling and
staffing in the organisation.
Demand and motivations for unique types of events- Today, the demand of
unique or different types of events is rising all over the globe. The needs for advance
level technology in the event organization is increasing, that will continuous influence the
development of the event industry. In business sectors this unique types of events is
organized to motivate the employees in different level.
Globalization also influence the development of the event industry. Many
exhibitions, meetings and conferences are being organized every day across the world
with large audiences and attendees from different different countries. Today, many
business becomes globalized, due to this event industries are facing many challenges
and international competitions. Because of increasing the competitions, an additional
demand has been continuously generated by the organisation. However, event
organizer have to develop their intercultural skills to understand the exact desires and
needs of the attendees (Murdie and Peksen, 2015). Global economic uncertainty in the
business is the major challenge for event industry.
Social cultural development is also a major element that influence the
development of the event industry. The main purpose of events is motivated and
encourages the people towards socio-cultural. It will also increase a sense of identity
between the global and local communities.

LO2
P3 Value, legacy and impacts of event on the environment
Global events can have various impacts on the environment in which they
operates such as cultural, economic, tourism, physical and social impacts. Events have
also major impacts on the host communities and organization's stakeholders. Events
have positive and negative impacts also. Event's legacy can impacts in various way-
economic, social, sporting and infrastructure.
Many events can occurs the diminution of the natural resources and also
generates the water, soil and air pollution. The event industry is becoming the most vital
sector in the economy world. This can generates many negative and positive effects on
the local communities, economy, tourism and environment. Global events are directly
and indirectly connected with the environment.
The impacts of events can largely affect the social and cultural life of the peoples
and also influence the standard of life of the local communities. It can manipulate the
community. Ineffective events can also appear the negative image of an organisation.
Less amenities in the event can create negative impact on the audiences. It's very
necessary to take initiative actions for controlling that divers effects. It has positive
impacts also, Event provides a platform to share the experiences, it helps in revitalizing
the traditions. Event builds the pride and increase participation. It can introduce new
ideas and innovations and helps in enhancing perspectives. Events will assist in
validation of community group.
The impacts of event on the environment increasing frequently. Events supplies the best
practice models of environment. It will helps in increasing awareness in local
communities and it will also improve the transport and communication. Events can
encourages in urban renewal. It can also improve the infrastructure legacy. All the
events will impact the environment in many ways and according to the size of the event
this impacts unavoidably increases. It generates the various pollution and noise
disturbance. Ir may also create environmental damages.
There are many positive and negative political impacts of events. Events have a
ability to unite the people from different communities and cultures. Events and politics

co-action can generates the positive impacts on the environment. It will helps in
improvement of administrative skills and improved the profile of organisation. Events will
also encourages the positive or favorable political actions towards the environment and
communities (Gehrmann, Monni and Luisoni, 2017). Events will assist in promotion of
investment and enhance international prestige. Event has negative political impacts
also, it may creates misallocation of funds. Events can create a situations when minister
will lost the community ownership and control.
Events will also attract the tourist from various areas by destination promotion
and that will provides an opportunities to countries to generates more visitors, revenue
and huge economical advantages such as job creation, business opportunities, higher
yield etc. Effective events will enhance the reputation and create an positive images
nationally and internationally. It helps in improve the tax revenue and commercial
activities. It has negative impacts also such as damage to reputation, loss of
authenticity, inflated prices and exploitation. Events can also occurs financial
mismanagement and loss.
P4 Management strategies used to support responsible event development for a range
of global events-
Events are very essential for the social and cultural development and also more
important in political and economy world. They plays an effective role in marketing and
destination-specific marketing. Global event strategies are very essential for achieving a
long-term goal of the organisation. Management strategies used to create global event's
effectiveness, viability and its long-term sustainability. With the perfection in
management strategies in events we generates longevity and attractiveness in events.
In the market oriented events good market strategies plays a vital role Sirunyan and
CMS collaboration, 2017). Through the event management strategies event
development is becomes easier. Event management strategies helps in optimizing the
expenses on events by expense management, cost saving and planning.
Various event management strategies factors that are used are used to support
responsible event development- situation analysis, formulation of strategies, strategy
implementation and evaluation of best strategies. Events strategies are divided into

several steps such as event planning, event promoting and more. In the events
development process these management strategies have to follows- planning the
events, launching the event, promoting the event, managing the event and wrapping up
the event.
There are many Management strategies such as Event marketing, event
registration, event budget, event engagement, on-site event technology, meeting and
event planning, event venue sourcing and event intelligence are used to support
responsible event development for a range of global events. For improve events and
their outcomes, organizer should have to collect, capture and analyse the event data.
With these following four management strategies, event organizer will be capable to
running event easier, efficient, successful.
Event automation makes events easier- Events organizer uses the connected
solution, ease of management and reduced manual tasks to makes events easier. Event
organizers are working with finance, IT, marketing and sales department to ensure that
event management solution are connected with each department (Maqsood, Mehmood,
Maqsood, et.al., 2019). The all departments are aligning their solution to customer
relationship management system, marketing automation platforms and others to present
transparent view. Workshop and employees communication are customized,
conformable and clear with the automation in websites, email and templates.
Atomization helps in formalize a event process.
Designing and rising the attendee experience- Event manager should have to consider
the attendees needs and their preferences to improve the experience of audiences. For
the better future experience of attender session quality is more important. In the event if
the organizers are getting the correct information at correct time it will improves the
attendee's experience.
Optimizing event spend strategy- For responsible event development organizer should
have to analyse the all direct and indirect expenses of events that can be eliminated and
reduced. They have to deeply analysis into event expense. By focusing on trends and
forecasts, event organizer can arrange the event spend accordingly.

Orienting events to your strategy- Events become a great strategic way for moving the
organisation forward. With the orientation of events manager will able to analyse the
company's performance against the goal (Gehrmann, Monni and Luisoni, 2017). For the
effective events management business must have visibility into their data. More
collaboration in data generates the financial efficiencies in any events. For enhancing
the trust of your organisation in the market, the event organizer should have to follow the
corporate policies on risk mitigation and compliance. Organizer must be ensure that
event will generate positive financial performance for the business.
LO 3
P5 PESTLE analysis
 Political factors
These factors comprises of political stability, labour laws, tax policies, trade
restrictions etc which has a direct impact on organizations and industry as a whole
Positive
If the political stability of a country is stable enough means the country is free of
rioting and corruption then in will have a positive impact on the event industry as its
operations would not be disrupted.
Negative
On the other hand, if there is change in government regulation of country
frequently like changes in accounting standards then it would be difficult for the event
industry to operate their as they would not be able to comply it
 Economic factors
Economic factors include exchange rate, interest rates, unemployment rates,
economic growth etc.
Positive impact
When interest rate of the country is high there would be greater cash flow which
eventually decreases the country's liquidity. This can affect event industry in positive
way due to great cash flow the price of their goods would rise.
Negative impact

High unemployment rate of country can decrease the revenues and profitability
ratio of industry as it would be difficult for them to attract skilled employees for marketing
their brand message.
 Social factors
These factors encompasses lifestyle of consumers, their attitudes, health
consciousness, population growth etc.
Positive impact
The increasing awareness of people for leading the healthy and safe life can
present an opportunity for event industry to advertise fat free food containing less
cholesterol which the customers would purchase at a great rate.
Negative impact
Due to high unemployment in country, the spending of consumers on various
luxury services like wedding provided by the event industry can reduce which can lead
to their declining sales.
 Technological factors
Innovation and automation, technological changes , R & D activities constitute the
technological factors.
Positive impact
The increasing demand of consumers for online services can become a
significant opportunity for the event industry where they can optimize their websites and
search engines to provide customized services to clients.
Negative impact
High investment in R & D for bringing the advanced technology can be difficult for
the the event industry where the level of innovation remains substantial and this high
investment might not bring out the newness in services
 Legal factors
Legal factors constitutes Discrimination laws, consumer protection laws, health
laws, copyrights and patents etc.
Positive impact

The country having lenient laws for health and safety that would favour the event
industry can project positive impact on this industry where their major services are
related to the providing safe and secure services to clients.
Negative impact
Country having stringent employment laws can be a negative call for event
industry as it would be difficult for them to retain their current employees and provide
them with optimal wages.
 Environmental factors
These factors consist of Environmental policies, climatic changes, weather
changes etc.
Positive impact
If the country has well defined environmental laws which are sustainable enough
for the event management then it can affect the industry in positive way where they
would have to comply to international standards of food quality which can raise their
goodwill.
Negative way
The goodwill for the companies engaged in corporate social responsibility in the
minds of consumers can be a threat for event industry where they would have to invest a
large amount in CSR campaigns hosting awareness on environmental laws.
Impact on decision making
The impact of political, economical and technological factors on the event industry
is imperative. All these factors influences their decision making and guide them as to
how all the services would be delivered to client effectively. For example, As the
consumers want all the information of event online, the industry would have to optimize
their whole website and modify their search engine.
LO 4
P6 SWOT analysis
Strength
The main strength of business event is that it provides an effective solution for the
problems that the company is recently facing. Besides this, It provides its attendees with

the contact of authorized person for clearing the doubts and having the in depth
knowledge on some attributes.
Weakness
The primary weakness that the business event comprises is the lack of enough
funds and finance. Organizing the business conferences and events with insufficient
fund leads to failure of effective learning. Besides this, less and inexperienced staff also
constitute its drawback which hinders the performance of entire event.
Opportunities
The various opportunities available for business event is little competition where if
the company is operating in niche market, then they have the opportunity to strengthen
their position. Apart from this, cooperation with some local government & NGO's for
hosting the event can also be an opportunity for them.
Threats
The basic threat which most of the event planner including business event can
face is the unprepared infrastructure wherein selecting the correct place for conducting
business event can be a challenge for event planner besides selecting the right time.
Moreover, high level of competition can disturb the event plan and hence can lead to
changes in the overall business strategy.
Effective planning approaches
In order to plan the various event including business events effectively, an
organization requires some tools and approaches that would help them in achieving their
short as well as long term objectives. While hosting the vent, the company needs to
focus on some safety measures like for business event screening the staff and matching
their IDs to ensure that no employee from the competitors enter the premises ad steal
the sensitive information. Besides this, the entities who would sponsor the whole event
would also matter like major clients, our shareholders, community members, high profile
distributors and suppliers. Once the company is done with sponsors, next they think
over the source of funding who would provide finance for hosting the event. Major
funding sources can be local government, NGOs, Shareholder, major investors,
entrepreneurs etc. The major issue which needs to kept in mind while conducting event
is the cross cultural differences as large number of staff having different culture, values,

origin participate in the event. Thus, avoiding any slang or jargon which directly or
indirectly criticizes their culture is the main concern for organization.
CONCLUSION
From the above study it is concluded that diversity is an essential factor for event
industry. Diversity in the events, helps in satisfying the audiences and their desires.
Attendees of the events increasingly focusing towards the diversity. Event industry
includes the event planner, manager, event coordinator and many others. With the help
of all of them event industry organize the ambiance of project or function. Event
organizer should have main focus on the attendee's comfort, relaxations and meet their
expectations and desires. The growth and development of the event industry has been
enhancing by the technological development and many revolution. The growth and
development of the event industries has been booming because of the increasing
demand for bigger events, large family functions, press conferences, big exhibitions and
grand parties. Events are highly contributing in the global economy. In a current
scenerio, the demand for different and unique events are rising. Globalization also give
an opportunity to event industry to grow internationally. Events can create many impacts
on the environment. It can impacts on culture, tourism, economic, social, political and
many others. Events can occurs the reduction the natural resources. Many management
strategies in the event industry that help in development of global event. These
strategies help organizer to drive an effective global event.

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