Comprehensive Analysis of the Global Events Industry: PESTLE and SWOT

This report offers a comprehensive analysis of the global events industry, encompassing various sectors such as music concerts, conferences, and sporting events. It begins with an introduction highlighting the diversity within the industry, followed by a detailed PESTLE analysis that examines the political, economic, social, technological, legal, and environmental factors impacting the industry. The report then presents a SWOT analysis, outlining the strengths, weaknesses, opportunities, and threats relevant to the event industry. The conclusion emphasizes the importance of diversity in events to satisfy audience desires, and the report references key sources like Kirchner (2016) and Brassett (2018) to support its findings. The analysis considers how these factors influence decision-making within the industry, particularly in adapting to consumer preferences for online services and event information.

GLOBAL EVENTS

TABLE OF CONTENT
• Introduction
• Pestle analysis
• Swot analysis
• Conclusion
• References

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.

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.

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.

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