Industry Analysis & Industry Trends
The Event Promotion and Management Services industry is forecast to be worth $3.8 billion in 2013-14, up 1.1% for the year. This is in contrast to an expected annualised revenue decline of 0.5% over the past five years. The industry has fallen prey to the weak economic conditions that have afflicted the Australian economy in the aftermath of the global financial crisis. Spending on events is discretionary in nature, as hosting events and purchasing tickets are never essential. A combination of low business confidence, slow growth in household discretionary income and a steadily rising household savings ratio led to a gradual revenue decline for event managers, event promoters and ticketing agencies... purchase to read more
Industry Report - Industry Locations Chapter
The distribution of businesses within the Event Promotion and Management Services industry is similar to Australia's population distribution. The major exceptions to this rule occur in New South Wales and Western Australia. New South Wales is highly overrepresented, accounting for 38.7% of Australia's event promotion and management services businesses while only comprising 32.0% of the population. The opposite occurs in Western Australia. The state's growing population now comprises 10.8% of Australia's overall population, but only accounts for 9.0% of industry businesses.
A large proportion of businesses are located in the most populated states of New South Wales and Victoria as businesses need to be close to their downstream markets and a centralised supply of skilled labour... purchase to read more