I have a brief presentation about Events; what many don't know about it, how many trivialise it, how some countries earn massive foreign exchange from it and how event is one of the largest provider of jobs in structured societies.
This presentation will showcase Event as an industry, in which various activities in that Industry to the country's GDP.
Events are generally categorised into four, namely:
1. MICE - Meetings, Incentives, Conferences and Exhibition Events
2. Sporting Events
3. Social Events
4. Other Events
Events employ millions of MSMEs in different Fields as an ancillary service provider and support services; such as, Hotels, Logistics, Entertainment, Engineering, Food and Beverages, Security, Aviation, Transportation, Insurance, Designers, etc.
In a well structured economy, events provide regular businesses to all the critical stakeholders in their industries economic value chain.
In economies whose tourism is well developed, events play very important role to propel the growth of their tourism industry.
Let's take a look at some statistical highlights of the global events industry:
1. Total spending for events globally is $650 billion annually (conservative figure)
2. The global events industry has grown at an average pace of 6.2 percent since 2003, though projected to grow at 5.5 percent rate since 2011
3. An overview of the US events industry -
Events created 1.7 million jobs and still growing
$263 billion in spending
$14.3 billion in Federal taxes
$106 billion share of the national GDP
According to reports, the event industry in the USA is bigger than their movie and the music industry combined. In essence, the Entertainment industry in the US trails behind the event industry.
Interrelationships of events and other industries:
Taking a look at the MICE aspect of the event industry: Exhibition and Conference.
For a successful Trade Show or Exhibition, the following sectors of the economy should be involved:
Ministry of foreign affairs
The Police
Transport and Logistics
Customs Services
The Sea Port Operations
ICT Sector (technology)
Hospitality
Financial Services
Tourism Service etc.
According to Mr. Olawale Oladapo, product and services exhibition has been a major business in Nigeria for sometime now. Major cities especially Lagos and Abuja has witnessed a boom in events planning and exhibitions. Most in mortgage business now prefer event centres. Dr. Omolola Omoteso is a good example of entrepreneur who has taken the opportunity. It is a big business that is not fully tapped. Post covid presents reinvention and creativity. The industry is just evolving and I’m sure it will take its rightful place in no distant future if the practitioners/planners are professional and cultural sensitive
But, it is being done in isolation because the country has not structured events as an industry.
“Owambe” culture is only an atomic fraction of the event industry. Do we even have data for this section, spendings and other activities? Why don't we have national records for all these?
I believe the use of technology will play a lot of roles in global events post COVID 19. Businesses in the value chain may be somehow affected when events are attended via E-Presence
In summary, events are a veritable source of foreign exchange earning for countries that have the will and the requisite capacity to make it work.
Thank you.
Contribution by others:
Dr. Omolola Omoteso
A book, ACE Events In the works... I run an events business along with catering business. acechef.webs.com
For a couple of years now, I have been sending outlines to people for their events especially funerals, birthdays, weddings.
At Divine Connection, we have a class on events to help intending couples lower their budget and still have an “ace event”.
Sure but believe it or not it is HUGE. You can merely imagine the thousands that travel back and forth just to attend events.
Another one to delve into is events by churches and other religious bodies especially conventions and conferences. Every August and December, RCCG Host MILLIONS from all over the world.
And it is not just bringing a topic, *how do we tap into it in and after covid?*
Two days ago I wrote the chapter on Excellence in manuscript of book titled “Singled Out”. I used events to describe how we can showcase excellence by paying attention to details and injecting care into our service delivery.
But those transferring knowledge are acing things. I have a course I have been eyeing, it is 4400$ and a discount version which is not really discounted because you have to plan your meals and hotel yourself goes for 2900 with about 200 for membership.
I was excited when they said it would be offered virtually because I envisaged a lower rate, rather they insisted on same rate saying they were at the verge of increasing before covid hit.
How many can charge that high in Nigeria, some would argue. But truth is, some companies pay that high or more to have expatriates train their staff.
How can Nigerians achieve that height where value is placed on what we have to share. Sam Chand is into “speaking” like me, why do some spend $50,000 or more to have him in NG and I will have to make a case to get paid $5000?
[Video Shared]
This clip speaks volume. A lot of planning before it turns that good
And it shows that a virus is not strong enough to suspend our will and way as humans. If the stick used did not exist before the event, someone had to create it.
There is also the issue of man know woman and the need for expansion.
If Day Star brings Sam Chand, it is more likely him or his network would also invite Sam Adeyemi... Many of these things are based on referral.
I once asked my friends not to refer to me as friend in professional circles but to refer to me as professional colleague. This was after I saw that I was being side tracked with the friendship tag. Many will not invite your friend to speak but they will invite him or her if you present the person as a professional in a particular field.
My speaking engagements have come from honouring or inviting others.
This is what we have tried so hard to do with SAN. Rub off on one another and position us for great opportunities - paid and unpaid. There have been referrals but far inbetween what founders had in mind... Mr. Seth Akorli invited Mr. Makanju Samson to cover his child dedication. I have referred some for this and that...
This is how we can extend and expand our circle and open up windows of opportunity for events and engagements.
Indeed.
But, I dare say the reason the industry went into comatose was because it never fully developed, otherwise, planners, like me 😉, would be the go to person for what next...
Who can supply my food, drinks, medications even while I observe my stay at home? Event planners know who? Why do we have traffic despite lockdown, because everyone still wants to be on the road, rather than outsource. I have delivered supplies to people across Nigeria and all over the world during this covid era using my God given event coordination and programme planning skills.
In 2016, I did what nobody had ever done before at least in Nigeria, to the best of my knowledge. I planned a “mega” event from my laptop and phone without going to see anyone! I designed letterhead etc and sent letters via email, followed up via phone etc. The only person I went to see was Mrs. Taiwo Ajai-Lycett, the one for whom the event was planned. Creme de la creme if entertainment came and people were still streaming in when we were clearing up. Yes she was a name but her name did not make the excellent event happen, planning did.
Sadly the Nigeria factor crept in when only few focused on the organiser and when her young friends suddenly projected income and set greed in motion to defraud me of the benefits.
If I had planned such an event in another country, I would have become an instant celebrity and would have gleaned from the referrals, rather I am yet to fully recoup the loss.
So I am bringing us back to the questions:
What are the solutions in reference to taping into events industry in Nigeria, in covid and post covid?
Enjoy this owambe culture!
[Owambe Video]
Mr. Kayode Fashola
We will miss those nostalgic experiences.
Engr. Yinka Adeosun
Our society is still at the primary level of production and development. Many events are run on rule of the thumb approach. Only the top end seek professionals. We tend to hire the caterers, look for venue, seek out DJ, fish out decorators etc. Only those with money would be ready to delegate to a planner. Until recently, corporate organisations would constitute a team within and assign tasks. These are part of the reasons why the service industry is still rudimentary. Insurance, Advertising, Logistics, Catering, Entertainers, Decor, Hotel Accommodation are some of the areas along the value chain that stand to benefit.
This sector has been hard hit by COVID. It has also opened different vistas of alternate modes of doing different things. The development of the event industry would be tied to the economy where various other service sectors emerge; it cannot be in isolation. From projections, it is very unlikely that mass gatherings would be permitted until the second half of 2021.
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