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The Future Of Event Management

No longer does the term “future” in event management have the impact it once used to, given that the future is the present. The pandemic as it needs no introduction, took us by surprise, leaving industries to deal with the global implications it set into motion. While we read, hear and experience the devastating consequences, the opportunities that it has opened up across the globe, across industries and economies is not lost on us.
 Studies have shown that the event industry alone is expected to have an exciting growth rate estimated around 11% between the years 2016 and 2025 as compared to the previous 7% over the last decade. With the onset of the pandemic, experts feared a decline in the momentum but as of recent views the figure remains as is.   

This can only be explained by the global opportunities the pandemic has paved way for, leading the industry to grow and benefit in more futuristic and sustainable ways.

While the base of every event creation remains unhindered, the approach, the strategy and the content creation is where we expect to witness some of the more drastic changes going forward. The online world has opened a plethora of opportunities, connecting professionals from across the globe, easing accessibility, ensuring accuracy along with being cost and time efficient. Platforms such as Zoom, Microsoft Teams, and Cisco Webex have not only given us an alternative to real life interaction mediums but have allowed us to transition onto the digital space with greater ease and transparency.

Uncertainty is in great measure at a time like this and while forecasting and planning for the future may seem unguided, there are a few things to look out for in the next few years that event experts seem confident to predict.

1. Hybrid Event Management Structure

Long gone are the days when event management was limited to on-ground, live events, catering to larger crowds involving great physical infrastructure and interaction. Today, the hybrid model of event management combines the advantages of the on-ground set-up as well as the unparalleled benefits of modern technology thus leading to enhanced client experiences that are most suited to thrive on a global level while also positively impacting the future of the industry going forward.

2. Risk Appetite

If the year 2020 taught us anything, it is that uncertainty is the only certainty, no matter how much we plan and prepare. The event industry has always been progressive in terms of breaking boundaries and exploring new avenues to cater to. Going forward, a noticeable shift in event experts to take more calculated risks, initiate innovation and encourage changing business methodologies is what can be expected. 

 3. Global Opportunities 

Work from home while having its own shortcomings has in fact blurred the boundaries on a global scale, allowing opportunities to emerge and encouraging budding event professionals to seek incredible career opportunities across the globe. Being able to easily connect, communicate and work with a diverse group of specialists has never before been so convenient. Today, we are not only seeing the bigger nations such as the United States and Canada, but even smaller countries like Sri Lanka and Dubai, opening their doors to potential employees in the event and entertainment sector.

4. The Power Of Social Media 

The influence of social media cannot be stressed enough and while the ongoing rebate about its pros and cons continues, we must acknowledge that the benefits of social media cannot be overlooked, especially considering the largely depended technological world that we live in. The global reach and connectivity that it provides, at the cost and ease at which it does, remains unparalleled. Going forward, we can expect to see a further dependence on various platforms such as Instagram, Twitter, LinkedIn and various other applications that have enabled users to seek out opportunities on a global scale.

5) An New Era 

With the changes that are bound to to take place as a result of the above mentioned consequences, it can very well be said that the event industry will be stepping into an entirely new era, paving the way for future event professionals to find their niche within the industry, explore innovative approaches and contribute to the sustainable development and strong growth momentum of the industry. There is no limit as to what can be achieved when event professionals come together to work towards taking the industry to new heights, one step at a time.

The future of event management as you can now tell lies in what we do today, how we manage to take on the various opportunities provided in order to be prepared for any possibility in the near future. Together with the experience of well established event professionals along with the ideation and creativity brought to the table by younger professionals, there is no doubt that we can together build a future that is both promising and constructively challenging to ensure long term success and progression of the industry in the years to come.

At team.i, each day is an opportunity and a collaborative endeavour to create possibilities that can take the future of event management to greater heights. We help students turn their passions into a reality that helps establish their careers the right way, from the very beginning. If you’re looking to not just learn event management but one day become the event professional you wish to be, head on over to the team.i website and register for a course of your choice today.

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