Australian industry market research report event promotion and management services

Event promotion and management services industry to provide a variety of services, but these services are the same systemic risk, the economic situation in Australia. IBISWorld estimates that the industry's revenue declined, earnings by event management, tourism promotion and ticketing agent, through the 2012-13 five years. For these reasons, the industry research firm IBISWorld has updated its report on the event promotion and management services industry in Australia.

Melbourne, Australia (PRWEB) 2012 11 20,

Event promotion and management services industry to provide a variety of services, but these services are the same systemic risk, the economic situation in Australia. IBISWorld estimates that industry revenue, which consists of event management, tourism promotion, and ticket agents earnings declined by 5.4% in the year-on-year, by five years in 2012-13. According to IBISWorld industry analyst Lee EE benevolence, the largest decline of industry revenue is recorded in 2008-09, in line with the global economic downturn. " Products as an important part of the industry depends on the willingness of individual consumption discretionary products, industry revenue is sensitive to changes in real household disposable income and household savings rate. For these reasons, IBISWorld estimates revenue of the industry for the fourth consecutive year decline in revenue this year is expected to decline 2.6% to $ 3.69 billion.

Weak operating conditions, the new entrants have found a niche opportunity, especially in the Ticketing segment. Capital strong supporter of funding, the downstream market welcomed, especially these alternatives in the market has long been dominated by two ticketing agents. Event management segment to continue to reside in the small owners and operators. In fact, the number of owners and operators is estimated to rise in the past five years. "By 2017-18, the industry is expected to grow more than five years," Lee said. Optimistic economic outlook will translate into higher business confidence and consumer confidence, more generous spending of non-essential consumer goods, such as commercial activities and live performances. However, the industry's largest players - especially the increasingly fierce competition enterprise provides ticketing support - between, may inhibit the growth of income. In addition, due to the rise of China to replace Australia to become the region's premier exhibition and conference venue, Australian enterprises will seek new growth opportunities in overseas markets. In contrast, Australia's appetite for live performances also made an attractive destination for foreign companies to expand their presence. Therefore, the growth of industry globalization and international trade.

Low market concentration in Australia in the event promotion and management services industry. Provide a broad range of services as enterprises within the industry, large companies dominated sector. Although there are many well-known within the industry companies such as Qantas ticket (Nine Entertainment Co., Ltd.) and Ticketmaster, the diversity of the industry means that any one company to control most of the market share. In addition, low barriers to entry into the event management refers to many owners and operators in the market. This is because of the need to establish an event management company, low capital investment, with the main input of human capital services.

For more information, please visit IBISWorld's activities to promote and management services in Australia industry page report.