[Latest] Global Tourism Event Market Size/Share Worth USD

Austin, TX, USA, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Tourism Event Market Size, Trends and Insights By Type (Exhibitions and Conference, Festivals, Corporate Events & Meetings, Music Concert, Others), By Channel (Virtual Channel, Physical Channel), By Tourism Type (Domestic, International), By Target Audience (Children, Adult), By Revenue Source (On-line Registration, Off-line Registration, Sponsorship), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand of global Tourism Event Market size & share was valued at approximately USD 1,128,652.1 Billion in 2022 and is expected to reach USD 1,205,400.4 Billion in 2023 and is expected to reach a value of around USD 2,179,077.2 Billion by 2032, at a compound annual growth rate (CAGR) of about 6.8% during the forecast period 2023 to 2032.”

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Tourism Event Market: Growth Factors and Dynamics

Global Economic Trends: The growth of the event tourism market is closely tied to global economic trends. A robust and growing economy tends to increase disposable income, encouraging more people to spend on travel and leisure activities, including attending tourism events.

Technological Advancements: The event tourism market has been significantly impacted by technological advancements. Digital platforms and social media play a crucial role in promoting and disseminating information about events, making it easier for potential attendees to discover and participate in tourism events globally.

Cultural Exchange and Diversity: The increasing interest in cultural exchange and diversity has fueled the growth of tourism events. People are increasingly seeking unique and authentic experiences, leading to the popularity of events that showcase the cultural richness of different regions and communities.

Sustainability and Responsible Tourism: The growing awareness of environmental issues and the importance of sustainable practices has influenced the event tourism market. Events that prioritize sustainability and responsible tourism practices are gaining traction, attracting environmentally conscious attendees and sponsors.

Government Initiatives and Policies: Government support and policies can significantly impact the event tourism market. Positive initiatives, such as infrastructure development, visa facilitation, and promotional campaigns, can boost tourism and attract more visitors to events, contributing to market growth.

Changing Consumer Behavior: Evolving consumer preferences and behaviors play a vital role in shaping the event tourism market. The demand for unique experiences, personalized travel itineraries, and a focus on well-being are driving factors that organizers need to consider in designing and promoting tourism events to meet the changing expectations of attendees.

Global Health and Safety Considerations: The COVID-19 pandemic has brought unprecedented challenges to the event tourism market, emphasizing the importance of health and safety. Future growth in the market is influenced by how effectively organizers adapt to new health protocols, implement safety measures, and communicate these initiatives to potential attendees. Flexibility and innovation in event planning to accommodate changing health conditions will be crucial in maintaining and growing the tourism event market.

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Event Tourism Market: Partnership and Acquisitions

In 2022, Airbnb Experiences has launched off-the-grid experiences, emphasizing unique and adventurous activities in remote locations. This move aligns with the increasing demand for immersive travel, offering users the chance to explore distinctive and less-traveled destinations, enhancing their overall travel experience.

In 2023, ITW UXP and Club Vistara joined forces in a partnership aimed at boosting the sports tourism business. The collaboration seeks to enhance accessibility, making travel for sports enthusiasts more convenient, and providing unique experiences and opportunities for fans to engage with their favorite sports events.

In 2022, Gullivers Sports Travel, the Group Travel Specialist, unveils a one-year partnership with Waratahs Alumni, presenting four sports travel tours during the Rugby World Cup in France. The tours will feature notable figures Darren Coleman, Phil Waugh, Tony Dempsey, and Ian Kennedy, enhancing the rugby enthusiasts’ experience.

Report Scope

Feature of the Report	Details
Market Size in 2023	USD 1,205,400.4 Billion
Projected Market Size in 2032	USD 2,179,077.2 Billion
Market Size in 2022	USD 1,128,652.1 Billion
CAGR Growth Rate	6.8% CAGR
Base Year	2022
Forecast Period	2023-2032
Key Segment	By Type, Channel, Tourism Type, Target Audience, Revenue Source and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Tourism Event report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Tourism Event report has been modified to include the COVID-19 impact study prior to delivery.)

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Event Tourism Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Tourism Event Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

Mass Cancellations and Postponements: The pandemic led to widespread cancellations and postponements of tourism events globally due to travel restrictions, lockdowns, and concerns about public health. This resulted in significant financial losses for event organizers, suppliers, and local economies dependent on tourism.

Shift to Virtual Events: With restrictions on large gatherings and travel, the event tourism market witnessed a surge in virtual events. Organizers adapted by embracing online platforms to connect with audiences, providing a temporary solution to maintain engagement and continuity during the pandemic.

Hybrid Event Models: The adoption of hybrid event models, combining in-person and virtual elements, allows for flexibility and broader reach. This approach caters to individuals who may still have concerns about attending physical events while providing a dynamic and immersive experience for both virtual and on-site participants.

Enhanced Health and Safety Measures: Implementing robust health and safety protocols has become paramount for the recovery of the event tourism market. This includes measures such as temperature checks, sanitization stations, social distancing arrangements, and collaboration with local health authorities to ensure the safety of attendees.

Collaboration and Industry Support: Collaboration within the tourism and event industry, as well as with relevant government bodies, is crucial for recovery. Shared best practices, financial support mechanisms, and coordinated efforts can help rebuild the confidence of stakeholders and attract attendees back to events.

Strategic Marketing and Communication: Effective marketing and communication strategies are vital for encouraging attendance post-pandemic. Clear messaging on safety measures, highlighting the unique aspects of the event, and addressing any concerns potential attendees may have can help rebuild trust and interest in participating in tourism events.

Diversification of Offerings: Event organizers are diversifying their offerings to appeal to a broader audience and mitigate risks associated with unforeseen challenges. This may include introducing new event formats, thematic variations, or incorporating elements that cater to changing consumer preferences and expectations.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Event Tourism Market, with some challenges and opportunities arising from the pandemic.

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Key questions answered in this report:

What is the size of the Tourism Event market and what is its expected growth rate?
What are the primary driving factors that push the Tourism Event market forward?
What are the Tourism Event Industry's top companies?
What are the different categories that the Tourism Event Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Tourism Event market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2023−2032
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Tourism Event Market – Regional Analysis

The Tourism Event Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

North America: North America’s tourism event market is characterized by a trend towards experiential and immersive events, incorporating technology like AR and VR. Sustainability initiatives and a focus on wellness experiences are gaining prominence. The region sees a surge in hybrid events, combining in-person and virtual elements to cater to diverse preferences.

Europe: Europe’s tourism event market is witnessing a rise in eco-friendly and sustainable events, aligning with the growing emphasis on environmental consciousness. Cultural and heritage events continue to thrive, attracting a diverse international audience. The trend also includes a focus on digital integration to enhance event accessibility and engagement.

Asia-Pacific: Asia-Pacific’s tourism event market is marked by a surge in mega-events, such as international sports competitions and cultural festivals. The region is embracing technology-driven innovations, including cashless transactions and smart event management systems. Additionally, there is a growing trend towards themed and niche events catering to specific interests.

LAMEA (Latin America, Middle East, and Africa): LAMEA’s tourism event market is characterized by a focus on promoting cultural diversity and heritage. The region sees a rise in events showcasing local arts, crafts, and traditions. With an emphasis on destination branding, LAMEA is witnessing a trend towards collaborative efforts between event organizers and local governments to boost tourism.

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List of the prominent players in the Event Tourism Market:

Eventbrite
Cvent
The Priceline Group
Expedia Group
Live Nation Entertainment
Hyatt Hotels Corporation
Marriott International
Accor
Hilton Worldwide Holdings Inc.
MCI Group
International Meeting Planners
American Express Global Business Travel
Informa PLC
Reed Exhibitions
Hosts Global
Others

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The Event Tourism Market is segmented as follows:

By Type

Exhibitions and Conference
Festivals
Corporate Events & Meetings
Music Concert
Others

By Channel

Virtual Channel
Physical Channel

By Tourism Type

Domestic
International

By Target Audience

Children
Adult

By Revenue Source

Online Registration
Off-line Registration
Sponsorship

Click Here to Get a Free Sample Report of the Global Tourism Event Market @ https://www.custommarketinsights.com/report/tourism-event-market/

Regional Coverage:

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
France
U.K.
Russia
Italy
Spain
Netherlands
Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Taiwan
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Tourism Event Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Tourism Event Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Tourism Event Market? What Was the Capacity, Production Value, Cost and PROFIT of the Tourism Event Market?
What Is the Current Market Status of the Tourism Event Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Tourism Event Market by Considering Applications and Types?
What Are Projections of the Global Tourism Event Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Tourism Event Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Tourism Event Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Tourism Event Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Tourism Event Industry?

Click Here to Access a Free Sample Report of the Global Tourism Event Market @ https://www.custommarketinsights.com/report/tourism-event-market/

Reasons to Purchase Tourism Event Market Report

Tourism Event Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Tourism Event Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Tourism Event Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Tourism Event Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Tourism Event market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Tourism Event market analysis.

The competitive environment of current and potential participants in the Tourism Event market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Tourism Event market should find this report useful. The research will be useful to all market participants in the Tourism Event industry.
Managers in the Tourism Event sector are interested in publishing up-to-date and projected data about the worldwide Tourism Event market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Tourism Event products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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