A Golden Ticket to a Trillion Dollar Experience by 2034 – Market Research Blog

Event tourism market
Event tourism market

The event tourism market is exploding with expected growth CAGR of 4.3% achieve a colossal $2.38 trillion by 2034. This presents a golden opportunity for industry decision makers to capitalize on this rising demand. Here’s why you need to take action:

Experiences about everything: Travelers crave authentic experiences that go beyond sightseeing. Develop events that provide cultural immersion, entertainment and social interaction, and position yourself at the heart of this trend.

Be the magnet: Become a destination magnet by creating unique and engaging events. Festivals, concerts, conferences – the choice is yours. Focus on what drives tourism and create a unique experience.

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Invest in infrastructure: Work with destinations to develop infrastructure that supports events. This could include improved transport, accommodation and event venues. By improving the overall experience, you attract more tourists.

Catering for every niche: The event tourism market is a diverse landscape. Consider niche cultural celebrations, culinary gatherings or specialized events to cater to specific interests and preferences.

Embrace Virtual Tours: Underestimate the power of virtual tours. By offering digital experiences in addition to physical events, you can reach a broader audience and further increase participation.

North American Advantage: The North American market is experiencing a surge in travel for special events, trade shows and virtual tours. Develop strategies to leverage this regional growth potential.

The takeaway: The event tourism market is a kaleidoscope of experiences waiting to be discovered. By focusing on experiential tourism, destination partnerships, diverse event offerings and virtual experiences, industry leaders can position themselves as the architects of unforgettable memories for travelers around the world.

Today, much of the world’s population seeks to attend unique events, discover new cultures and create lasting memories. This in turn is expected to create growth prospects for event tourism companies.

Market expansion will also be fueled by technological advancements that enable physical and virtual event formats, increasing reach and accessibility for participants worldwide. As the sector evolves, collaboration between event organizers, destinations and stakeholders remains crucial, shaping the future landscape of event tourism with a focus on innovation, sustainability and enriching visitor experiences.

The market is highly competitive, with several companies offering a wide range of events. Some of the leading players in the event tourism market include Including BCD Meetings & Events, Cvent, Live Nation Worldwide Inc., Pollstar and Atpi Ltd.

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Key conclusions from the event tourism market study:

  • The global event tourism market is expected to reach $2.38 trillion by 2034.
  • Based on type, the trade shows and conferences segment is expected to grow at a CAGR of 4%.
  • On a channel basis, the virtual channel segment is expected to grow at a CAGR of 3%.
  • Demand in China is expected to grow at a CAGR of 5% between 2024 and 2034.
  • The market value in the United States is expected to grow at a CAGR of 7% until 2034.

Who wins?

Key event tourism players listed in the report include BCD Meetings & Events, Cvent, Pollstar, Atpi Ltd, Riviera Events, Live Nation Worldwide Inc., Stubhub, Access Destination Services, Entertaining Asia, Anschutz Entertainment Group, FCM Travel and Veena Patil Hospitality Pvt Ltd. among other things.

Top companies are expanding their offerings by offering new services. They also make full use of social media platforms to expand their customer base. Various players are using strategies such as acquisitions, partnerships and collaborations to gain a competitive advantage in the market.

Recent development:

  • By 2023, Living nation expanded its presence in Latin America with the acquisition of Paramo Presenta, the leading music promoter in Colombia.

Get more valuable insights

Future Market Insights (FMI) in its new offering provides an unbiased analysis of the event tourism market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034. The research reveals compelling insights based on type (exhibitions and conferences, festivals, corporate events and meetings, music concerts, others), channel (virtual channel, physical channel), tourism type (domestic, international), consumer orientation (children, adults) and revenue source (online registration and offline registration, sponsorship) in different regions.

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Key companies profiled

  • Live Nation Worldwide Inc.
  • BCD meetings and events
  • Kvent
  • Pollster
  • Atpi Ltd
  • Riviera events
  • Stubhub
  • Access to destination services
  • Amusing Asia
  • Anschutz Entertainment Group
  • FCM trips
  • Veena Patil Hospitality Pvt Ltd
  • Other players (as requested)

About the Travel & Tourism department at Future Market Insights (FMI)

Future Market Insights’ (FMI) travel and tourism team provides all the necessary insights and advisory analytics to meet the unique business intelligence needs of clients around the world. With a catalog of over 500 reports covering the latest statistics and analysis from the travel and tourism sector, the team is happy to assist you with any business intelligence research and consultancy requirement.

Global event tourism market segmentation by category

By type:

  • Exhibitions and conferences
  • Festivals
  • Corporate events and meetings
  • Music concert
  • Others

Per channel:

  • Virtual channel
  • Physical channel

By tourist type:

By income source:

  • Online registration
  • Offline registration
  • Sponsorship

According to consumer orientation:

Per region:

  • North America
  • Latin America
  • East Asia
  • South Asia and the Pacific
  • Western Europe
  • Eastern Europe
  • Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR Certified, Stevie Award Recipient and Member of the Greater New York Chamber of Commerce) provides deep insights into the driving factors driving demand in the market. FMI is the leading global provider of market information, advisory services, consultancy and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial and Chemical markets. With a vast team of more than 400 analysts worldwide, FMI offers global, regional and local expertise on diverse domains and industry trends in more than 110 countries.

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