Industry Analysis & Industry Trends
The Event Promotion and Management Services industry has declined slowly over the past five years, having struggled in the aftermath of the global financial crisis. While economic conditions rebounded in 2009-10 with an uptick in business confidence and consumer sentiment, over the past five years, businesses have continued to rein in costs while consumers have continued to deleverage and save their money. Event attendance is typically non-essential, and the lack of discretionary spending was to the industry's detriment. Therefore, the industry underwent a slow but steady decline, with revenue forecast to fall by a compound annual 0.5% over the five years through 2014-15 to $3.9 billion. A similarly small revenue decline of 1.4% is forecast for the current year... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Event Promotion and Management Services industry is in the mature phase of its economic life cycle. The industry is considered to be mature as it has established its position as an integral part of the events market but is not undergoing substantial growth. The industry is made up of a variety of different service segments, and each of these continues to play a role in holding business and consumer-based events, indicating the industry's maturity.
Industry value added (IVA) measures an industry's contribution to the overall economy. IVA is forecast to rise by a compound annual 0.8% over the 10 years through 2019-20. IVA growth therefore underperforms real GDP growth of a forecast compound annual 2.7% over the same period... purchase to read more