Europe Event Management Industry - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Europe Event Management Industry - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Event Management Market in Europe has been negatively impacted in 2020 by the COVID-19 pandemic outbreak. Most exhibitions, in-person meetings, trade shows, conventions, and seminars were postponed as a result of the lockdown measures the government put in place to try and stop the virus spread. Additionally, a sharp decline in foreign visitor arrivals to Europe during the pandemic contributed to the decline of the European event management industry. One of the top locations for roasting events worldwide is Europe.

The rapid development of the tourism and hospitality industries, the expansion of IT hubs in Europe, and the enormous rise in business activities like conferences and seminars, brand promotions, and employee training activities are the main drivers of the growth of the European event management market. A rise in business travel combined with a shift in the lifestyle of business travelers who seek out leisure travel, rapid urbanization, and an increase in disposable income are other significant factors that support the market's expansion.

Therefore, the demand for event planners, personnel service providers, furniture and equipment rental services, and other elements of corporate events is being fueled by the booming business activities. Additionally, the use of top-notch technology that can manage the entire event spurs industry expansion. Additionally, multi-dimensional events frequently serve as a major catalyst for the expansion of the European events market.

The average per capita purchasing power in Europe in 2021 is EUR 15,055. However, disposable net income among the 42 countries surveyed varies significantly: Liechtenstein, Switzerland, and Luxembourg have the highest disposable net income. In total, Europeans have around 10.2 trillion euros available to spend in 2021. This means that per capita purchasing power has a nominal growth of 1.9 percent in 2021. This rise in disposable income is driving the Europe Event Management Industry.

Corporate events are experiencing steady growth in the event management industry of Europe. The small and medium-scale industries in this segment were mostly inclined toward corporate events. Most of the SMEs were concentrating on corporate events which is resulting in making corporate events the dominating sector in the Event management industry.

The Europe event management market is highly fragmented and consists of several global and regional players. These market players are constantly engaged in various developmental activities such as acquisition merger partnerships business expansions and new product launches which increases the competitive rivalry in Europe. These players with prominent shares in the market are focusing on expanding their customer base across foreign countries. These companies leverage strategic collaborative initiatives to increase their market share and profitability.

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