Industry Analysis

Corporate demand for events is robust, according to the Event Marketing

Institute. It revealed in its inaugural Event Track 2017 study that companies expected to
grow their event marketing budgets by 7.8 percent in 2017 more than twice the 3.6
percent increase of 2011. Of the marketers responding in the study, 83 percent said
events did a better job at driving sales than driving awareness. Digital technology
helped this process when marketers started using social media to connect events with
online audiences and brand influencers, with 66 percent of surveyed marketers saying
that social media made events more successful.

Environmental Analysis

PEST Analysis

Political

 Government policies
 Tax policies
 Labor laws
 Regulation and deregulation trends

Economical

 Impact of globalization
 Labor costs
 Inflation and instability

Social

 Population growth rate

 Social mobility
 Changing preferences of target markets
 Gender and ethnic diversity

Technology

 Impact of emerging technologies in event planning

 Research and development of service
 Speed of data transfer through internet
Contemporary Economic Issues

The economic outlook of the country is in a precarious position. This must be

addressed or else the country will see a drop in the number of business events that will
be implemented. As experienced in the past, the high cost of staging business
events are not advisable. Companies are more inclined to find other means of
affordable marketing activities. The digital space is so attractive that most of the budget
will go there if this rising prices and inflation will go unabated.
Another economic issue is competitions are getting stiffer. The increasing
number of business event management companies, travel agencies venturing to event
management, event management freelancers, and the biggest threat, the entry of
ASEAN event management players in the country. In this case, local companies are at
the disadvantage, foreign players are bringing a large stash of cash, a firepower that is
hard to compete against.