This article will guide you the history of event management and rise in the event growth with some actual data and reports on growth and size of event industry.
It is very essential for event workforce and the person who wants to enter in event management to understand the above aspects of event field.
Event management is not a new term in today’s era. Everyone knows today what event management is and who event managers are. It has been tremendously increasing since some decades.
This increase in demand of event companies is a result of people’s
busy schedule, to maintain their social images and not getting enough time to
plan & manage their own events. It is one of the fastest growing sector.
Event management has diverse nature of its services, job titles and various types of events.
It can start from
- a baby shower to baby welcoming,
- engagement to the farewell of the bride,
- company inauguration to the company’s 100th year celebration,
- birth place to the graveyard,
- a local singer to the mega concerts,
- small birthday treat to the grand party, thus now people has
developed tendency to integrate event industry all over their work and
celebrations.
So it becomes important to understand how this event
industry came into existence. This will only be possible by looking into the
history of events.
Evolution and history of event management
It is obvious that event management is not something that came into existence recently. Previously also people use to manage their own celebrations, promoting businesses, sharing education, marketing things, dealing with vendors etc. so they were acting as an event manager themselves.
Isn’t it? It may be or may not be because at that time the concept of event
managers were not into existence. So probably this sector is being running
unknowingly from last thousands of years.
But however it is necessary to conclude everything today and it includes the deciding point of how this event concept originated into people’s mind. Let’s go back to the time of Cleopatra.
Now you may think who was Cleopatra, right? Cleopatra was the last active ruler of the Ptolemaic Kingdom of Egypt. Assume taking time machine & travel back to the Ptolemaic Dynasty and the world of Cleopatra and Marc Antony.
Cleopatra was well-known at that time for
orchestrating elaborate and lavish meetings in an attempt to woo a
lover. History tells us that Marc Antony was taken by Cleopatra because of her
planning something to impress Marc.
That time she was the one who hosted fancy over the top meetings in pursuit of lovers. Cleopatra entered one meeting by drifting down the Nile River on a boat filled with candles and perfume in order to impress Mark Anthony.
Cleopatra’s events would not have been possible without
her servants and free labors. Communication was very limited. Messages were hand
delivered and it could take weeks if not months to deliver them.
Elaborate events and parties continued with the Medieval French Royalty. Rich aristocratic women were in charge of event management.
The most notable was Madame Pompadour, the mistress to King Louis
XV of France and Marie Antoine. Parties were themed with costumes and popular
musicians of the day.
So that was the brief history of how event came into
picture.
It is obvious that the working methods could be
different now as compared to older days because the education of that time was
different, the spending pattern was different, people’s mindset has changed
over a period of time, rituals and customs has been revised, families have
started becoming nuclear etc thus all that has a great impact on managing
events then and now.
Let’s consider some essential points on which we can
find some differences over the period of time.
(Also read: Hierarchy of event companies and job titles)
Hospitality
& Registration process
Then: Talking about the registration process of any events, event managers were left with the only option to post the courier or send any person to get the details in order to complete the formalities.
It was
risky and they were having high chances to lose the data.
But now with revolutionary change over
the internet services it has become damn easy to get all the details of
participants across globe at one click on any devices.
Example:
Google doc, exclusive hospitality applications, from social media etc.
Logistics
& transportation
Then: That time finding location and easy
transportation facilities were bit tough. If people had to travel then it was
really like a hard nut to crack. There were less facilities and also were
consuming a lot time to reach long destination.
But now the transportation is as easy as travelling from drawing room to bed room. Public transport and personal vehicles have been increased tremendously over last few decades.
Also the
distance has been reduced by constructing highways and making fastest vehicles
all around the nation.
Example: Bullet train, Metro train, Airways, Railways
etc.
Audience
attention
Then: Back in to older days if anyone wanted to
organize public events which required people to take part and to show interest,
it was difficult to call and visit door steps.
But now with advancement of social media, internet and other devices, it has become far easy to get the audience’s attention and to get their interest for our events.
It is now very easy to get
in touch and built connection with audiences.
Example: Facebook & Instagram ads, Google ads, applications
etc.
Advertising
and searching Events
Then: Before the internet, flyers, posters, and
word-of-mouth were popular ways to advertise events. These were the only ways to
market products and advertisement.
But now: People can search for events
utilizing websites. Users can type in their location and find hundreds of
events they may not have even know existed!
Example: LocalHop, Facebook etc
Size & growth of event industry
You will be amazed to know the size of the event industry. How it is growing larger and larger day by day.
According to one report of EEMA (Events and entertainment management association) carried out in 2017, it was estimated that Indian event industry will cross INR 10,000 crore of value by 2021.
But it is also a truth that major income of event companies are not being displayed in official reports so the original value may be much higher than this too.
Report narrates that the value of event industry which was around INR 5,631 crore in year 2016-2017 was expected to grow at CAGR (Compound annual growth rate 16% every year which was more than the India media and entertainment industry (M&E) growing at 11-13 % CAGR annually.
Thus this growth is unstoppable to achieve the high rates of success. This report was carried out with survey of 64 event companies and 31 marketers.
As per officials, there are some key features in event market due to which it is growing vastly across India and globally.
Some of the main features were digital activation, personal events, high budgeted weddings, sports tournaments, sponsored events, trade fairs, expo, government events, product launch etc.
If looking into the global scenario of event market, according to one report issued by Allied market research, the global event industry which was valued at $1,100 billion by 2018 is expected to reach at $2,330 billion market value by 2026 with an annually growth of 11-13% CAGR.
Wow just look at those values, that’s incredible! No one could have thought of this much estimation of market value of globally event industry. But yah ! why it can’t be this much?
People are spending this much value in order to save time, save health, save hustle and bustle etc, it may be more valuable for them than the money they spends on their events.
Also today is an era of management fellows. Management rules the principle of work getting done by others.
2 comments
Click here for commentsI love the way how you written this article in extremely easy language, (Easy Words)so that each and everyone can read and understand.TYSM
ReplyThank you so much.. stay connected and tuned for more articles..
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