2025-2034 Tourism Event Market Evolution: Disruptions, Innovations, and Untapped Opportunities

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What Is the Expected CAGR for the Tourism Event Market Through 2025?
In the past few years, there has been a steady increase in the size of the tourism event market. The value is expected to inflate from $1709.7 billion in 2024 to $1794.49 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.0%. Factors contributing to the growth during the historic period include globalization, the rise of digital marketing, enhanced disposable income, a boost in cultural exchange, and burgeoning tourist destinations.

What's the Projected Size of the Global Tourism Event Market by 2029?
It is anticipated that the tourism event market size will witness consistent expansion in the forthcoming years, escalating to $2085.2 billion in 2029 with an annual growth rate of 3.8%. The predicted growth during this period could be due to amplified government backing, the increasing sway of social media, a boost in medical tourism events, developments in infrastructure, and a heightened predilection for experiential marketing. Noteworthy trends during the forecast era encompass advancements in event technology, cooperative efforts and partnerships, real-time streaming and engagement on social media, experiences through virtual reality (VR), as well as individually tailored experiences.

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Top Growth Drivers in the Tourism Event Industry: What's Accelerating the Market?
The growth of the tourism event market is predicted to be propelled by growing government investments. This refers to the financial resources that governments direct towards a variety of sectors, projects, or initiatives with the goal of stimulating economic growth, enhancing infrastructure, promoting development, providing public services, or supporting particular industries. The tourism event sector's growth rate is highly dependent on government investment. By putting money into infrastructure enhancement, promotional activities, and cultural development, governments strengthen the necessary foundations for conducting successful events, improving tourist experiences, and boosting local economies. As an example, in March 2023, the Government of British Columbia, headquartered in Victoria and tasked with overseeing the province's policies and programs, invested in the Tourism Events Program (TEP). This program offers funding of up to 10% of the event budget (ranging from a minimum of $10,000 to a maximum of $250,000). To qualify, an event budget of at least $100,000 is required to promote events, draw tourists, and stimulate the economy by highlighting local attractions and reinforcing community resilience. Additionally, in May 2022, the U.S. Economic Development Administration (EDA), a federal agency under the United States Department of Commerce, earmarked $510 million for state investments in travel projects, plus an extra $240 million for communities grappling with issues related to travel, tourism, and outdoor recreation. Thus, the rise in government investment is expected to stimulate growth in the tourism event market.

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What Trends Will Shape the Tourism Event Market Through 2029 and Beyond?
Leading businesses in the tourism events market are channeling their efforts on the development of digitally forward event planning tools like event apps with the objective of ensuring detailed arrangement and synchronization in managing events in tourism and hospitality sectors. Essentially, an event app solution is an application software intended to amplify event planning, organization, and attendee experience with capabilities such as scheduling, registration, and live engagement tools. For example, in November 2023, Simpleview, an American CRM, CMS, site design, and digital marketing software firm, unveiled the Eventsforce mobile app. This app provides a financially efficient solution for tourism event companies aiming to enhance attendee involvement via gamification features and interaction methods. The app is built to profit event attendees, exhibitors, sponsors, organizers, and all other relevant parties through its user-friendly features. It also integrates with all key AMS/CRM (Association Management Software/Customer Relationship Management) and event management systems, provides mobile and desktop access, advanced QR scan functionalities, and abilities to enhance participant involvement via gamification and engagement resources.

What Are the Main 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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Which Top Companies are Driving Growth in the Tourism Event Market?
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

Which Regions Will Dominate the Tourism Event Market Through 2029?
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.

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