Tourism Event Market Size Forecasted To Achieve $2085.2 Billion By 2029 With Steady Growth

The Tourism Event Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Tourism Event Market Size and Projected Growth Rate?
Over the past few years, there has been consistent growth in the tourism event market size. It is predicted to increase from $1709.7 billion in 2024 to $1794.49 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.0%. Factors such as globalization, the surge in digital marketing, rising disposable income, amplified cultural exchange, and the emergence of new destinations have contributed to the historical growth of this market.

The market size of tourism events is projected to experience consistent expansion in the upcoming years, reaching a value of $2085.2 billion by 2029 with a compound annual growth rate (CAGR) of 3.8%. This increase during the forecasted period can be credited to factors like enhanced government backing, growing impact of social media, an upswing in medical tourism events, developed infrastructure, and a rising inclination towards experiential marketing. Key trends during this period encompass advancements in event technology, alliances and joint ventures, live streaming as well as social media involvement, virtual reality (VR) encounters, and tailored experiences.

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What Are the Major Segments in the Tourism Event Market?
The tourism event market covered in this report is segmented -

1) By Event Type: Cultural Or Festival Event Tourism Fair, Sports Event Tourism, Business Events, Music And Entertainment Events, Spiritual And Religious Tourism, Travel Trade Shows
2) By Revenue Source: On-Line Registration, Off-Line Registration, Sponsorship, Other Revenue Sources
3) By Channel: Virtual Channel, Physical Channel
4) By Organization Size: Corporations, Associations, Government Agencies, Non-Profit Organizations

Subsegments:
1) By Cultural Or Festival Event Tourism Fair: Local Cultural Festivals, National And International Cultural Events
2) By Sports Event Tourism: Major Sports Tournaments, Local Sports Events And Competitions
3) By Business Events: Conferences And Conventions, Trade Shows And Exhibitions
4) By Music And Entertainment Events: Music Festivals, Concerts And Performing Arts Events
5) By Spiritual And Religious Tourism: Pilgrimages, Religious Festivals
6) By Travel Trade Shows: Industry Conferences, Travel Expos

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What Are The Driving Tourism Event Market Evolution?
The upswing in governmental backing is anticipated to propel the expansion of the tourism event market. This backing is the distribution of government capital into different sectors, initiatives or projects with the objective of encouraging economic progression, improving infrastructure, boosting growth, offering public amenities, and aiding particular industries. Governmental investment plays a crucial role in determining the growth rate of tourism events. By channeling funds towards infrastructural improvement, promotional endeavors, and cultural development, governmental authorities strengthen the necessary groundwork for successful event hosting, enriching tourist experiences, and stimulating local financial systems. To illustrate, the Victoria-based Government of British Columbia allocated funds to the Tourism Events Program (TEP) in March 2023, allowing for financing up to 10% of the event budget (a maximum of $250,000 and a minimum of $10,000) provided that the event budget is a minimum of $100,000, for the purpose of promoting events, inviting tourism, and enhancing economic growth by highlighting regional attractions and building community resilience. Additionally, the U.S. Economic Development Administration (EDA), belonging to the United States Department of Commerce, dedicated $510 million in May 2022 for state investments in tourism-related ventures and an additional $240 million to aid communities severely impacted by the challenges in the arenas of travel, tourism, and outdoor activities. Thus, the rise in governmental support will power the growth of the tourism event market.

Which Firms Dominate The Tourism Event Market Segments?
Major companies operating in the tourism event market report are TUI Group, Live Nation Worldwide Inc., Carnival Corporation & PLC, Reed Exhibitions, Royal Caribbean Cruises Ltd., CWT Global B.V., Airbnb Inc., BCD Group International BV, Informa Markets, American Express Global Business Travel, ATPI Ltd., GL Events, Maritz Holdings LLC, Messe Frankfurt, Cvent Holding Corp., Emerald Expositions, Kuoni Group, Eventbrite Inc., ITE Group, Comexposium, Cox & Kings Ltd., Tarsus Group, Riviera Events, Wizcraft Entertainment, Event Planet, Disney Destinations LLC, TicketWeb

What Trends Are Expected to Dominate the Tourism Event Market in the Next 5 Years?
Leading enterprises in the tourism events sector are increasingly adopting advanced digital technologies like event apps for improved event management and rapport in the industries of tourism and hospitality. Such event app technologies are designed to enhance event organization, planning and participant experiences via features like event arrangements, real-time engagement tools, and registration facilities. For example, Simpleview, renowned for its CRM, CMS, web design, and digital marketing software in the U.S. rolled out the Eventsforce mobile app in November 2023. This mobile app serves as an efficient solution for tourism event organisations that aims at enhancing attendee involvement through various engagement and gamification features. This app packs a plethora of benefits for exhibitors, attendees, sponsors, organisers, and all stakeholders, offering seamless integration with all major Association Management Software/Customer Relationship Management and event management systems, features that are effortless to use, compatibility with both mobile and desktop platforms, sophisticated QR code scanning utilities, and the ability to heighten attendee involvement through engagement and game design elements.

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Which Is The Largest Region In The Tourism Event Market?
North America was the largest region in the tourism event market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the tourism event market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Tourism Event Market?
2. What is the CAGR expected in the Tourism Event Market?
3. What Are the Key Innovations Transforming the Tourism Event Industry?
4. Which Region Is Leading the Tourism Event Market?

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