January is about to be over. How time flies. After researching, observing, and hearing from my colleagues here are my top 5 trends in event management that you should watch out for in 2024.
- Increase of work-from-home event professionals
As if we don’t know. Upcoming event professionals, and even those who are already in the event management industry demand to get some of their job done at home.
The rationale is simple – they have proven that they can. Metro Manila being the number one city in terms of heavy traffic makes this strategy more compelling. Who wants to lose 10 precious days in a year stuck in traffic? Nobody!
The work from home professionals or hybrid workers will be the norm rather than an aberration this year and in the coming years not only in the event management industry but in other industries as well.
2. The rise in event cost
Last December, in the exhibition side of event management, exhibitors ranted on their social media about the increase in exhibition fees of a particular expo. This quickly escalated when the organizer also answered back, posting on his social media his answer to the dissatisfied exhibitors.
Across the event management industry in the Philippines, the rise of venue rentals and other logistical costs is evident. This puts a wedge in the relationship between the organizers, exhibitors, and attendees.
Do not be surprised if the cost continues to rise this year.
3. Hybrid Events Steady Growth
With rising costs and advancement of technology backed by excellent proof of concept that hybrid events deliver, it will continue to grow. Companies will further embrace the power of digital technology in their events.
I just wanted to point out that in the B2B exhibition, face-to-face remains the favorite mode of transaction. Some cases using technology showed that conversion and engagement are weak in the expo side of the events spectrum.
4. Sustainability is a challenge
Are you bringing your water container? Do you have your bamboo spoon and fork with you?
Promoting sustainability and reduction of carbon footprints are a must for us event organizers. It is hard but slowly we can see some changes. But there is so much to do.
The LGUs, venues, event organizers, and attendees must join hands to make this a habit rather than a fad.
The challenge is so big but small steps are already visible. Let us make this 2024 count for the better and make Sustainability one of our key result areas.
5. Explosion of new events and copycats
Last year, I partnered with another group to create a B2B and B2C expo and convention for cats. We called it Meowcon Ph.
There are other new events that I witnessed last year. I expect new events this year that bring more added value to event attendees.
Another trend I saw last year is the alarming number of copycats. Competition is not bad but new organizers must ensure the success of their events in the eyes of the stakeholders.
Some events last year failed to deliver. It affected other events. This is a free country and it is not illegal to aspire to be an expo, conference, or event organizer just make sure that you can deliver what you promise.
There are other trends that I am expecting to happen this 2024, but for now, I hope that these trends will guide you in your journey in the event management industry.
I will see you soon!