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Lesson 2 - the significance of the events industry
1. The Significance of
the Events Industry
HEVENTSCON
FromEvents Management by Eloisa Altez-Romero
Presented by Mervyn Maico Aldana, Faculty CHTM
2. • The events industry has its significance
to the national and global economy.
– Expenditure and number of people
traveling to and staying in destinations to
attend meetings, trade shows, or other
events.
– Amount of investments pour into
infrastructure and other developments,
including roads and remarkable venues.
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Significance of the Events Industry –
Learner’s Point of View
3. • Some professionals make a career out
of organizing festivals and other
events.
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Significance of the Events Industry –
Learner’s Point of View
4. • Some topics in the study of events
management are also applicable to
other disciplines and in our daily lives:
– Budget preparation
– Sales and marketing
– Time management
– Risk/crisis management
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Significance of the Events Industry –
Learner’s Point of View
5. • Planning and implementing an actual
event give you valuable experience
which will help you face the challenges
in the workplace.
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Significance of the Events Industry –
Learner’s Point of View
6. • The year 2012 marked a great year in
tourism as international tourist arrivals
reached the one-billion mark.
• UNWTO counted about 1.035B tourists
who stayed overnight in another
country, and Southeast Asia is one of
the regions that posted a double-digit
growth at 12% in the same year.
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Significance of the Events Industry –
Country’s Point of View
7. • The UNWTO defined tourism as “the
activities of persons traveling to and
staying in places outside their usual
environment for not more than one
consecutive year for leisure, business
and other purposes, except activities
remunerated from within the places
visited.
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Significance of the Events Industry –
Country’s Point of View
8. • Events that entail traveling outside a
person’s usual environment are
therefore a form of tourism.
• Events can, in fact, serve as one of the
tourists attractions of a destination.
– Example: Traveling to Singapore to attend
Ultra Singapore 2017
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Significance of the Events Industry –
Country’s Point of View
9. • The events industry is considered an
important subsector of tourism for two
major reasons:
– Quantity
– Quality
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Significance of the Events Industry –
Country’s Point of View
10. • Quantity – events attract guests
regardless of the season. Events have
the ability of events to offer new
experiences at destinations thus,
attracting more visitors and repeaters
and holding them beyond peak days.
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Significance of the Events Industry –
Country’s Point of View
11. • Quality – events attendees spend more
compared to ordinary tourists hence,
providing higher revenue for the same
length of stay compared to regular
tourists. Events attendees also have
higher disposable income and use
more tourism facilities than ordinary
tourists.
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Significance of the Events Industry –
Country’s Point of View
12. • Examples:
– Hongkong’s exhibitions industry
generated 69,000 full-time jobs and about
US$ 5.3 Billion in direct expenditure in
2012, which created a ripple effect as
well.
– Singapore earned about US$ 3 Billion in
2012 from MICE
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Significance of the Events Industry –
Country’s Point of View
13. • The events industry indeed contributes
greatly to a country’s economic
development especially for countries
with events that attract international
visitors.
• It does not only boosts tax receipts and
infrastructure development but also
creates a ripple effect in the economy.
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Significance of the Events Industry –
Country’s Point of View
14. • The multiplier effect is a direct
economic impact, which is equivalent
to the “new” money that visitors or
outsiders bring and this money is
circulated through spending in the local
economy.
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The Multiplier Effect
15. • Multiplier effect is created when
different persons use the same money
several times.
• Each time the money is transferred
from one person to another means the
money is counted as that person’s
income.
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The Multiplier Effect
16. • More transfers means more aggregate
income. More aggregate income means
a bigger economy.
• Simply put, the multiplier effect is the
idea of repetition or multiplication of
economic activities and its effects, such
that the income gained from the
tourist’s dinner does not end there but
creates a series of other purchases that
help the local economy. 16
The Multiplier Effect
