Middle East & Africa Event Management Market Outlook, 2029

Event Management Market Analysis

The Middle East and Africa event services market is one unique market beset by a diversity of history and culture. From time past, it has been the seat of traditional markets, religious gatherings, tribal ceremonies, others generally characterized by community life. This cultural heritage still prevails in the kinds of activities held to date, from camel racing and falconry competitions in the Middle East to colorful music festivals in South Africa and cultural heritage festivals held in Morocco. Indeed, the increasing globalization process, economic diversification, and the young population seeking new experiences have driven this region toward modern event services. Dubai, Abu Dhabi, Riyadh, Cape Town, and Nairobi are some of the important cities that have emerged to lead in the global event services market, having played host to quite a few prestigious international conferences, trade shows, and entertainment events. Much-needed, cutting-edge infrastructure development in terms of venues-like the Dubai World Trade Centre and the Cape Town International Convention Centre-is essential in such large-scale events. Governments in the region develop the event services sector through strategic policies as part of their overall effort toward economic diversification. Some notable examples are: the Tourism Strategy 2025 of Dubai to reception of 25 million visitors by 2025 if incentives for event organizers and extensive marketing campaigns push the envelope; Saudi Vision 2030, with a view to developing the entertainment sector, marks projects in the area of Qiddiya and establishing a General Entertainment Authority. Qatar National Vision 2030 emphasizes infrastructure development in order to hold big events like the FIFA World Cup 2022. In the same manner, the South African National Tourism Sector Strategy takes events to the forefront of tourism relevance as it contains international events such as the Cape Town International Jazz Festival and Africa Travel Indaba. The Morocco Vision 2020 aims to double its tourists with events like the Marrakech International Film Festival. According to the research report "Middle-East & Africa Event Services Market Outlook, 2029," published by Bonafide Research, the Middle-East & Africa Event Services market is expected to reach a market size of more than USD 88.96 Billion by 2029. The economic conditions in the MEA region are very mixed; some countries are registering rapid growth, while others face depressed economic fortunes. For instance, oil-rich countries that form part of the GCC, such as Saudi Arabia, the UAE, and Qatar, do have the financial resources to attract the hosting of major international events, including conferences, exhibitions, and cultural festivals. Others lack such budgets to match their aspirations, hence limiting the size and frequency of such events. The technology adoption in the MEA event services market is on the rise due to a youthful population who are fond of technology. Advanced technologies like AR and VR are being integrated into events to create more experiences. The COVID-19 pandemic has hit the event services market in the MEA region hard. Health-related aspects come first, especially through social distancing, enhanced sanitation, and health screenings of people physically present at events. The second lesson learned from this pandemic is the increased speed with which hybrid and totally virtual formats of events took off. This will add elasticity and safety for attendees to any kinds of gatherings. Effective marketing and branding in the case of the MEA event services market prove to be a point. Most of the time, this is digital marketing, social sharing, and partnering with influencers for promotion, ballooning the events to audiences. Brands reputation, hence built based on the service delivery and client satisfaction, serves as an added advantage towards a competitive edge.