Helpful Event Industry Insights for 2023 from Our Most Trusted Sources
By Darcy Allen /Melbourne Venue Expert
Tue 4th Apr 2023 Corporate Venues
Image: Prince Deck St Kilda Melbourne, Photo by Chloe Smith
The events industry is growing at lightning speed.
Verified Market Research reports that the events industry market size is expected to reach $2,194.40 billion globally by 2028, with an annual growth of 13.48%. This is an unprecedented statistic and possibly only the start of this global surge.
Digging into the industry growth, it’s fuelled by several different event types, including music concerts, sports tournaments, wedding celebrations, and the scaling of many brands and brand partnerships.
If you’re a corporate event planner or venue manager, staying on top of the latest trends and insights is crucial for the success of your events. That’s why we’ve put together this article featuring key insights for 2023 from our most trusted sources.
Focus on the design of your events
Eventbrite’s 2023 Events Trends Report showed that the key to putting together a successful event is creating experiences that leave a lasting impression on attendees.
To do this, organisers must go beyond simply entertaining guests, instead creating immersive and bespoke experiences that involve attendees and make them feel part of the event.
In the design and planning stages, consider using technology to engage audiences. Virtual and augmented reality helps to immerse attendees, with examples of this being:
- Oculus Quest: A Facebook-owned standalone VR headset that can be used to create immersive exhibitions or activities.
- ARkit and ArCore: Created by Apple and Google respectively, they allow the creation of augmented reality apps for mobile phones. These innovative software development kits can be used for product demos, virtual scavenger hunts and virtual phone-based exhibitions.
This type of tech also allows you to create interactive installations, so that users feel like the experience is truly about them – engaging them further.
You could even incorporate your event’s theme into the catering and décor to help create a seamless experience from start to finish.
Hybrid events are here to stay
Post-pandemic, the events industry took a sharp turn into hybrid gatherings. This approach isn’t going anywhere either. Meetings Forecast by Amex Global Business Travel reports that hybrid events are likely to be popular in 2023 and beyond, with 60% of respondents planning to host a hybrid event in the next year.
If you’re looking to offer the best of both in-person and virtual experiences – hybrid events make a lot of sense. They also provide a larger reach, giving attendees who are unable to travel a chance to participate and engage with your event.
Sustainability has been a growing trend in the events industry in recent years. In 2023, it’s expected to be even more prevalent.
Due to both environmental and reputation concerns, event planners and venue managers are always looking to reduce their carbon footprint. If this is you, look at areas like minimising waste, and sourcing local and ethical products.
Putting on a sustainable event also means implementing practices such as using recycled and biodegradable materials, reducing food waste, and using energy-efficient lighting and heating systems. Rather than ditching beautiful elements like flowers, work with a floral design studio that values the best sustainable practices like avoiding floral foam and only using local flowers.
You could also partner with other suppliers who share your sustainability values, as well as communicate these efforts to attendees. Doing this helps to increase awareness and engagement, encouraging attendees to practise sustainability at work and in their personal lives. Furthermore, you’re aligning your brand with your values on a larger scale that’s easy for your attendees to connect with.
Wedding celebrations are getting even bigger
If you’re in the wedding industry, Easy Weddings’ 2023 Australian Wedding Industry Report predicts that weddings will play a huge part in 2023.
Couples are expected to spend more money on weddings, with an average cost of $34,715 (up from $31,438 since 2019). The same report also predicts a rise in personalised and unique wedding experiences, like destination and themed weddings.
If you’re looking to cater to these trends, consider offering bespoke wedding and destination packages, as well as using local vendors to create these experiences.
Keeping you in the loop with the global events industry
If you’re planning events in 2023, keeping up with the latest trends and insights is essential for your success. Whether you’re designing immersive experiences with a focus on sustainability or catering to the rise of hybrid events, these handy insights will help you stay ahead of the curve.