Global Events Sector: Macro Environmental Impacts and SWOT Analysis

This report provides an analysis of the global events sector, examining its various segments, including musical concerts, exhibitions, sports events, and corporate events. It delves into the positive and negative impacts of the macro environment, encompassing political, social, environmental, and technological factors. The report also includes a SWOT analysis to assess the sector's strengths, weaknesses, opportunities, and threats, offering insights into cost management, attracting audiences, liberal policies, sponsorships, market sustainability, and labor costs. The conclusion emphasizes the sector's role in economic development and the importance of strategic planning for improved productivity and profitability. The report is supported by several references.

Global events

Table of Content
• Introduction
• Positive & negative impacts of macro environment upon 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 and negative impacts of macro
environment upon international events sector
Macro environments is defined as an external factors that involve political, social,
environmental, technological and many more. The positive as well as negative
impact of macro environmental factors on international event sectors is given below:
• Physical & environmental factors
• Tourism & economical factors
• Political factors
• Legal factors

SWOT analysis
It is defined as a tool that help a business entity to gain insight about its strength and
weakness and then develop effective strategies for the future growth and
development as well. Along with this, it also help in knowing about opportunities
that a company has which in turn assist in gaining competitive advantage at
marketplace. It is important for event sector to make use of such tool in order to
determine its strength, weaknesses, opportunities and threats as well in order to
develop strategies for successful planning of events. The SWOT analysis is
performed upon event sector is defined below:

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Strengths Weaknesses
 Event sector are competent to control and maintain the level
of cost which help in raising the revenue level effectively.
 Event industry’s higher authorities are effective as well as
talented in attracting new audiences that enhance
productivity and profitability of company.
 In event sector, cost such as maintenance, labour and other
expenses are mainly high.
 Lack of funds and ineffective technology impact negatively
on the performance of event sectors.
Opportunities Threats
 For event sector, liberal policies is consider as an opportunity
as it assist in enhancing operations at global level in an easy
manner.
 Moreover, event industry can gain sponsorships for different
programmes for profit maximisation.
 One of the major threat associated with event sector is
sustainability in market as in the present time hospitality
industry is adversely affected.
 In addition to this, the labour cost, expenses, infrastructure
cost is increase that impact negatively on the profits and
revenue level.

Conclusion
From the above discussion, it has been concluded that event sector plays an important
role in enhancing the growth and development of economy at national, state and
local level. There are various range of events that affect directly on the environment.
In addition to this, it is determined that macro environmental factors has both
positive and negative impact on international events. Moreover, with the help of
SWOT analysis, a business entity is able to develop effective strategy that improve
their productivity as well as profitability level.

References
• Maqsood, H., and et. al., 2020. A local and global event sentiment based efficient stock exchange
forecasting using deep learning. International Journal of Information Management, 50, pp.432-451.
• Cheng, Y., and et. al., 2019. Global event-triggered output feedback stabilization of a class of
nonlinear systems. IEEE Transactions on Systems, Man, and Cybernetics: Systems.
• Nissenbaum, A. and Shifman, L., 2020. Laughing alone, together: local user-generated satirical
responses to a global event. Information, Communication & Society, pp.1-18.
• Fernandes, S., Fanaee-T, H. and Gama, J., 2019, October. Evolving Social Networks Analysis via
Tensor Decompositions: From Global Event Detection Towards Local Pattern Discovery and
Specification. In International Conference on Discovery Science (pp. 385-395). Springer, Cham.

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