Global events industry to reach US $2.1 tn by 2032: AMR

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The global events industry is projected to grow significantly, reaching US $2.1 trillion by 2032, with a compound annual growth rate (CAGR) of 6.4 per cent from 2023 to 2032, a report published by Allied Market Research has noted. The report attributed multiple factors such as an increase in corporate meetings, conferences, exhibitions, music concerts and sports events, as well as advancements in event technology and sponsorship support from various brands for the growth. “Europe held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global events industry market. It is likely to continue dominating the market due to increased event activity, especially in Germany and Spain. On the other hand, the Asia-Pacific region is expected to witness the highest CAGR of 7.7% in 2032, indicating significant growth potential in this market,” the report noted.