Global Events Industry: Diversity, Factors, Strategies & Evaluation

This report provides a comprehensive analysis of the global events industry, exploring its diversity in terms of structure, organization, and different types of events within society. It delves into the various factors influencing the development, structure, organization, and societal role of events, examining their impact at both local and global levels. The report evaluates the value, impact, and legacy of global events within their operational environments, further discussing management strategies and providing examples of actual global events. It assesses the strategies used in event development, both currently and for the future, offering a detailed overview of the industry's dynamics and key considerations.

Global Events (Part A)

Table of Contents

Introduction......................................................................................................................................1
Diversity of the global events industry............................................................................................1
Structure.................................................................................................................................1
Organised................................................................................................................................2
Different types of events within society.................................................................................2
Factors and its impact on the events industry..................................................................................3
Factors influenced the development of events industry.........................................................3
Factors influenced the structure of events industry................................................................4
Factors influenced the organization of events industry..........................................................5
Factors influenced the role of different events within society...............................................5
Impact of factors on local level..............................................................................................6
Impact of factors on global level............................................................................................6
Evaluation of a range of global events.............................................................................................7
Value of a range of global events within their operational environment...............................7
Impacts of a range of global events within their operational environment............................7
Legacy of a range of global events within their operational environment.............................7
Management strategies responsible for event development............................................................8
Management strategies...........................................................................................................8
Examples of actual global events...........................................................................................8
Evaluate the strategies used by event development now and into the future.........................9
Conclusion.....................................................................................................................................10
References......................................................................................................................................11

Introduction
Global events are defined as the event industry which is also known as the live
communication industry. This means that global industries create and conduct live events. This
industry includes the stakeholders in the form of live professionals and special service suppliers
along with the general public audiences. Such events include corporate meeting, inductions,
conferences, exhibitions, music concerts, sports events, educational events, entertainment and
many more. When all such events are conducted on an international basis then it is known as the
global events (Sampson and Turgo, 2018). The following discussion is based on the diversity of
the global events industry which includes structure, organisation and types of events. Discussions
are also made on the factors influencing the development, structure, organisation and role of
different events within society of events industry and its impact on the local and global level.
Value, impact and legacy of a range of global events within their operational environment are
also discussed. Discussion on the management strategies, examples of actual global events,
impact of global events on different levels of the environment and evaluation of the strategies
used by event development now and into the future are also discussed with conclusion.
Diversity of the global events industry
Structure
Structure of the global events industry includes various aspects through which the proper
framework can be derived out.
 The structure on the basis of geographical scope of global events industry is majorly the
North America, Europe, Asia Pacific and LAMEA.
 Structure on the basis of segmentation by type are music concerts, festivals, sports,
exhibitions and conferences, corporate events and seminars and many more.
 Structure on the basis of segmentation by revenue source is majorly the ticket sale and
sponsorship. Structure on the basis of segmentation by organiser is majorly the corporate,
sports, education and entertainment.
 Structures on the basis of segmentation by age group are below 20 years, 21 to 40 years
and above 40 years.
1

 The size of the global events industry is estimated to be over 113 4.5 million dollars in
2020 and expected to reach 145 7.2 million dollars by 2028 (Palrão, Rodrigues and
Estêvão, 2021).
Organised
Organisation of global events is done in such a way so that they can get the maximum
event industry share.
 For example, corporate events have the maximum share in today's date. The conduct of
frequent seminars involves the interaction and good communication flow between the
speaker and the audiences which increases the number of attendees.
 In terms of revenue source, organisation of global events is done in such a way from
where they can get the efficient resources to conduct the event planned.
 Sponsorship source of revenue is highly demanded because it gives competitive
advantages to other industries as well. In terms of region, organisation of global events is
done in such a way that the audiences and the people can not only support but also
participate in such events.
 Europe is considered extremely successful in this parameter and maximum events
organisations choose Europe as the destination asset folder requirements of successful
conferences and other events.
 The best organisation of the global events is done in the cities of Germany, France,
United Kingdom, Italy and Spain (Nyurenberger, Sewruikov, Luchina and Shchetinina,
2019).
Different types of events within society
There are various types of events which are conducted globally by the global events
industry.
 Global events are basically classified into 5 types of special events such as private events,
sporting events, public events and fairs and festivals.
 Corporate events are one of the types which include the seminars and conferences along
with the trade shows and workshops.
 Social events are another type which includes reunions and themed parties.
 Virtual events are also one of the types which include webinars and classes along with
the interactive performances and summits.
2

 Fundraising events is also another type which includes auctions and sponsored sporting
events along with the sales and gala dinners.
 Festivals are one of the types which include music festivals and food festivals.
 Community events are another type which includes Street parties and swap shops along
with the litter picking.
 Hybrid events are also one of the types which include festivals and conferences.
 Popup events are also another type which includes boutique shops and food
collaborations along with the exercise classes (Uğur and Akbıyık, 2020).
Factors and its impact on the events industry
Factors influenced the development of events industry
There are different factors which highly influence the development of the global events
industry.
 As per the research, the global event industry improves every particular year through
which it collects the various factors which contribute to the growth and development of
the events industry.
 The following factors either increase or decrease the growth or worth of the global events
industry.
 Such factors are the households which are having a disposable income low, average and
high. This impacts the number of attendees in the event. More number of attendees
results in the good growth of the event.
 Tourism is another factor which impacts travelling in the United Kingdom on the basis of
prices and accommodations.
 Transport also impacts the event industry according to the availability of transport as per
the needs and requirements of the event attendees.
 Social media also impacts the global events industry because it relates with creating
awareness and marketing of the event so that the maximum number of attendees would
attend the event for better growth and development.
 Moreover, feedback after the event is an important factor because it can be either positive
or negative which decides future event planning.
3

 Competition is a major factor because there is high competition and various event
organisations which conduct global events.
 Additionally, advanced technology used in conducting the event and government support
along with the social and sustainable environment also impacts the growth and
development of the event industry (Zhang, Kim, Mastromartino, Qian and Nauright,
2018).
Factors influenced the structure of events industry
There are numerous factors which influence the structure of the events industry.
 Choosing the appropriate date for conducting the event is an important factor along with
the timings so that managing people will be able to attend. Therefore, the date and timing
structure of the global event is a highly important factor for the global events industry.
 Length of the event is also one of the factors as per the needs and requirements of the
topic of the event. Because if the event is too short according to the events topic then it
can create a negative impression among attendees and vice versa.
 Venue of the event is another factor which is essentially important for conducting the
event so that the attendees can be comfortable to visit the location of the event as per the
timings and dates of the event.
 Parking area and spacious location is necessarily an important factor to conduct the event
so that the stakeholders of the event can be convenient in attending the event.
 Moreover other factors include the advance notice along with the food and drink
availability during the event.
 Content of the event should be attractive and attention gaining along with the speaker's
communication skills and attitude so that the speakers can deliver the content in an
appropriate manner.
 Additionally, ticket price and payment methods are also an important factor along with
the promotional campaigns conducted by event companies which highly impacts the
structure of the global event (Causin and Scamacca, 2021).
Factors influenced the organization of events industry
There are several factors which influence organizing the global events by the events
industry. Factors of organization and factors of structuring the global event are somehow similar
in terms of different categories.
4

 For example, the objective of the event is a major factor which impacts the organization
of global events because it describes the purpose of the event and accordingly the entire
planning function is performed.
 Timing and location are the other factors which impact the organization of global events
because this factor must suit the internal as well as external stakeholders of the event
industry.
 Event checklist of attendees and the people who are involved in the event is important
because if anyone misses out that can create a great problem in conducting the event
because it can lose the reputation in the marketplace.
 Moreover, the proper finances and publicity of the event are all the major factors which
affect the organization of global events (D'Souza, 2018).
Factors influenced the role of different events within society
There are different factors which influence the role of different events within society
conducted by the global events industry. These factors also relate with the development,
structure and Organization of the global events.
 Understanding the goals and objectives of the event is important so that the strategic
procedure can be formulated from initiation to the end of the event.
 Knowing the audience is an essential factor which affects the role of different events
within society so that the event could relate to the people who will be attending the event.
 Selection of the right venue is important for different events because every event does not
suit every location.
 Drafting the proper plan and following up the timeline is a necessary factor in planning of
different events and following up the timeline is according to the role played in each and
every event.
 Moreover, roles of different events are also based on factors such as attractive and
creative content along with the suitable message shared to the audiences.
 Lead capture mechanism is also a significant factor which decides the role of different
events because different events require the target audiences but not everyone therefore
capturing the lead must be specific according to the target market (Coşkun, 2021).
5

Impact of factors on local level
As per the above discussions regarding factors, there are impacts of factors on local level
in a both positive and negative manner.
 Talking about positive impact on local level, events of direct and indirect impact on local
communities. This is because it renders the opportunities for participation and skill
development which increases the volunteering and social development along with the
cultural, economic and environmental development as well.
 Moreover, such events attract tourists and visitors which increase the income of the
nation.
 Talking about the negative impact on the local level, there is the forced relocation of
residence to accommodate tourists which results in crowding and crime.
 Hooliganism and consumption of hard drugs are also the negative impact which disrupts
the normal life of the local people. This also includes the increment of rents and tax rates
(Mazorenko and Tomanek, 2020).
Impact of factors on global level
There are different factors on the global level of events which impacts positively and
negatively as well.
 Talking about positive impact, there will be the increment of national income of a
particular company where the event is being hosted.
 Development of communication and social networks on an international basis along with
the improvement of social cohesion within the society.
 Development of existing resources is also a positive impact.
 Talking about negative impact, high level of energy and water consumption along with
the transport and travel impacts.
 Sustainability planning is the major factor which impacts the global level due to the
environmental losses of pollution (Lade, Strickland, Frew and Vitartas, 2020).
Evaluation of a range of global events
Value of a range of global events within their operational environment
There are different ranges of global events which creates value within the operational
environment.
6

 Different ranges of events create different face to face experiences for businesses which
allow more stable and scalable growth.
 Different ranges of events permit for a more intimate and interactive experience with the
audience which creates a good impression and memorable way of advertising the future
events.
 Different ranges of global events help in raising the profile of the city or country in terms
of economic benefits.
 It supports the long term investment and jobs along with the short term goals of the
organization.
 Such value results from the different ranges of global events in a more enhanced and
improved manner for any upcoming events (Spinoni, Barbosa, De Jager and Mazzeschi,
2019).
Impacts of a range of global events within their operational environment
There are different ranges of global events which impact the operational environment. As
per the above discussion, there are various factors which impact the range of global events.
 Such as the use of energy along with the transport and major environmental issues for
example climate change and the reduction in natural resources.
 Environmental issues are the major ones but there are also the economic as well as
political impacts on the operation and management of different ranges of global events.
 Such as political stability and instability of the country, taxes and charges of a particular
nation.
 These are the major impacts which have on the operational environment of different
ranges of global events (Getz and Page, 2019).
Legacy of a range of global events within their operational environment
There are different ranges of global events which have the legacy within the operational
environment.
 The major legacy of the global event is the long term positive impact on the culture and
economy along with the physique of the host area such as improvement of infrastructure.
 They are basically three main dimensions of legacy.
 First is the degree of planned structure.
 Second is the degree of positive structure
7