Events: Definition, Classification, and the Pandemic

Events - The Changing Environment

• In March 2020, the events industry, along with the rest of the world, became aware of the Covid-19 virus, which became a pandemic.
• Six million deaths were reported by March 2022.
• Events and hospitality industries were closed due to a need to reduce physical contact.
• Two years later, new practices such as frequent handwashing, social distancing, and mask-wearing were implemented.
• Events are crucial for society, building social cohesion and enhancing wellbeing.
• Throughout history, humans have gathered for ritual and ceremony to achieve specific results.
• The current events industry is diverse, comprised of different types of events.

Defining an Event

• An event is a planned gathering with a purpose.
• Events are memorable or special.
• Events are temporary.

Classifications and Categories of Events

• Events are classified by type (e.g., family birthday, wedding).
• Events can be categorized based on duration (short, long term).
• Events are categorized based on scope (local, national, international).

Industry Size

• The global events industry was valued at $1,135.4 billion in 2019.
• The global events industry size is expected to reach $1,552.9 billion by 2028.

Industry Structure

• The events industry is fragmented, with many small companies.
• The sector overlaps with others like tourism, hospitality, and sport.
• Different sectors of the events industry include corporate functions, leisure events, and political events.
• The events industry has various suppliers and support services that assist with event planning and provision of goods and services.

Support Services

• Suppliers provide essential goods and services (e.g., supplies, support, equipment).
• The supporting services and organizations can be crucial for success.
• A variety of specialized suppliers contribute to an event's success and operation.
• Suppliers may include, but are not limited to, theme companies, guest speakers, workshop facilitators, artists, performers, security, stewards, volunteers, agency staff, bar staff, uniform providers, lighting companies, sound companies, and multimedia companies, among others.

Related Sectors

• The events industry is closely related to other sectors, like tourism.
• The pandemic caused substantial damage to the events industry, creating uncertainty about the future of the industry.
• The events industry needs to adapt to ongoing global developments, such as the ongoing pandemic.
• The industry also needs to adapt to ongoing global occurrences, such as the Ukraine conflict.