Event Management Industry

Events Industry Overview

• The events industry is categorized by type and sector, including public, cultural, festivals, sporting, tourism, and corporate events.
• The business events sector is one of the fastest growing areas, capable of generating economic and job creation benefits.

Industry Components

• The industry includes event organizations, event management companies, events industry suppliers, venues, industry associations, and external regulatory bodies.
• Standard Occupational Classification (SOC) codes are recognized as important to identify the industry.

Education and Training

• Industry associations, universities, and other institutions have developed programs for professional event management training.
• Those planning to enter the industry should study the industry carefully to match their skills with those required by employers.

Event Sector Maturity

• O'Toole (2022) proposes a five-phase event sector maturity model to explain how the event sector develops over time.

• The five phases are:

  Adhoc (Phase 1)

  • Events are developed in response to immediate needs.
  • The reputation of the organizer affects the event's future development.
  • The industry begins to develop a network of suppliers and knowledge.

  Isolated Planning-Informal (Phase 2)

  • Formal plans are formulated in areas such as marketing, layouts, and budgets.
  • Event associations are established, industry conferences are launched, and training increases.

  Integrated Planning-Formal (Phase 3)

  • Demands for systems, procedures, and processes increase.
  • Risk management and planning become more formalized.
  • The knowledge base becomes more established.

  Standards (Phase 4)

  • Formalization increases with guidance, standards, rules, and regulations.
  • Compliance with industry best practices and legislation develops.
  • Large events and companies gain power and influence.

  Stable with Flexibility and Adaptation (Phase 5)

  • Events are recognized as economic drivers.
  • Regions or cities, local and national governments, support future development.
  • Innovation is a key feature of this phase.

History of Events

• Events have existed throughout human history and across cultures.
• British culture has a rich tradition of rituals and ceremonies.
• The events tradition in modern Britain began to take off in the late 19th century.
• The 20th century saw changes in society reflected in changes in public events.
• The 1980s saw governments and the corporate sector recognize the economic and promotional value of events.
• The 1990s saw the emergence of the events industry, with various sectors pushing for recognition and support.