Challenges Impacting Event Industry

Jaime Roseburgh, the Director of Event Operations at FIRST, has had a diverse and varied career in the events industry. With over 25 years of experience, she has worked in global organizations, startups, and agencies, gaining valuable insights from different perspectives. She began her career in Hong Kong, focusing on logistics in conference production and sports hospitality. Her roles progressed to encompass event management, client liaison, and leadership responsibilities in London, Singapore, and Dubai. Throughout her career, Jaime has embraced strategic planning, business excellence, and budgeting, leading teams in regional and global event divisions. She also gained experience in event marketing during her tenure at The Economist. Currently, as the Director of Event Operations for Asia Pacific at FIRST, a global brand experience agency.

What are some of the major challenges and trends that have been impacting the Events Sector lately

Challenges:

Budget: The current market volatility has planners shifting their event strategies and budgets. Clients are being faced with balancing between a post-pandemic appetite for face-to-face meetings and once again connecting on a interpersonal level with the realities of recession, spiraling costs, and a perception of where they should be spending and why.

Venues: There is a shortage of venues due to the post-pandemic backlog and that demand has also driven up pricing. Plus, widespread staffing shortages, lack of revenue and the ending of government aid, means that most won't be operating at optimum capacity for a while to come. Hotels and restaurants are struggling to rehire, meaning many are reducing their capacities as they are unable to service large groups. To better navigate around these issues, think about alternative spaces and supporting small and medium businesses that can really put your business to the best use.

Trends:

There are a number of current trends people are talking about today impacting the industry with AI of course being the hot topic of the moment.  The test is to evaluate these trends to uncover what is truly purposeful versus what’s the shiny object of today.

Neurodiversity: I’m excited about the emphasis on D&I, specifically Neurodiversity. From offering quiet spaces to increasing communication to strategic color palettes, we’ve been focused on ways to create more inclusive events for all brain types.

How are we meeting our sustainability goals and focusing on the sustainability goals of our clients?

Some actionable items that we at FIRST are adopting:

Our goal is to be constantly innovating and educating to create tangible change. To not just offset, but to actively increase our positive impact on both our People & our Planet.  We created a team dedicated to this operating under the name of Paramount, whose mission is to build a culture that supports People, Purpose & Planet.

We have identified our significant impacts and ensure we address them through clear and measurable objectives. Our leadership is accountable for the improvement of our performance, and we’re updating our governance processes.

We have robust processes against human trafficking and slavery, encourage supplier diversity, and are implementing a supply chain ESG performance monitoring system. Collaboration and dialogue are key drivers. Our immediate focus is on bringing our internal teams up to speed with sustainability challenges.

As we are building and deploying our responsible business plan, we are committed to measuring and communicating our performance on our ESG objectives.  It includes the environmental impacts and carbon footprint of our organization to minimize our impact.

What are some of the predictions/reflections you have around the Events Industry in ASEAN particularly emerging markets post COVID?

APAC has taken longer to open up vs the rest of the world and there is still some trepidation and uncertainty around COVID procedure and whether some of the emerging markets are back up to pre-COVID service standards. This has resulted in mature ‘safe’ markets such as Singapore, Hong Kong and Sydney being even more inundated than normal with requests and venues being booked well into next year plus the price point to match.

The fact that Asia Pacific continues to enjoy strong economic growth and stability signals good news for the events industry here though, and the emerging destinations like Cambodia, Philippines, Sri Lanka, and Vietnam are competing to win back the business that they had secured prior to the pandemic. “With budgets remaining mostly flat in APAC across most meeting categories, companies are again looking to re-ignite much needed face to face interaction and offer unique experiences in a cost-effective manner,”

"The events industry is constantly evolving and requires a pioneering mindset to stay ahead of trends"

Planners are again looking at unique locations to entice participation and impress clients. Emerging destinations offer value-for-money facilities, authentic cultural activities, and heritage sites. They are like a blank canvas with plenty of potential to create truly unique experiences. The lower-cost advantage in these destinations makes them even more alluring.

However, event destinations that newly emerge are prone to risk. Political stability, social welfare and positive economic development are the key drivers. A location needs to have improved infrastructure, decent lift and access — basic necessities for experienced event destinations, but not always in emerging locations. These destinations are not always a logical choice for larger events or incentives, but more suitable for smaller ones. Potential pitfalls, such as sub-standard transport, technology, and audiovisual, travel issues like complicated visa requirements, and limited options in terms of payment. “You need to look at a combination of safety and geopolitical influences, internal infrastructure and event-related services, paired with general accessibility to the destination, If any one of these is questionable, then we advise our clients to consider their duty of care to their employees or the meeting attendees.”

To reduce risks, such as safety hazards or dealing with disreputable operators, it’s common for meeting organisers to stick to cities and suppliers with which they’re familiar. While it’s likely that increased business and leisure travel to new cities will increase familiarity and possible Meetings and Events interest, meetings organisers should also conduct suitable due diligence in new, interesting, and cost-effective locations, to increase their options for future events.”

Planners and companies that choose emerging destinations are pace-setters, innovators, early adapters to the needs of the meeting industry. Not everything will go exactly as planned, like during any event, but experiencing something new will outweigh the few criticisms.

What are some of the technological trends which excite you for the future of the Events Industry:

We are seeing a lot of AI in various industries. In our industry, AI bots are positioned to translate, curate content, and write articles; although the accuracy is up for debate. It will be interesting to see how this tech progresses, if it does, to applications such as AI speakers which we see happening a little farther down the line.

Another trend is around identity and proof of person, but with associated attributes and preferences. This would make tailoring experiences for attendees far simpler. Everything from preferred font type to still/sparkling water preference could be pushed with a single sign on. Such systems create a reverse marketplace. Instead of companies paying to market their products and services, individuals can get paid to broadcast the products and services they want and need. It’ll mean agendas can be put together to best meet the declared needs and expectations of an audience.

What are your thoughts around top meetings and events destinations in ASEAN for 2023 and beyond?

Asia is savvy vis-a-vis inclusion. Considering the cultural diversity within Asia we find that most countries within the region are inclusive and respectful of diverse event audiences and therefore the region will grow organically as an event destination of choice.

Singapore will never lose its allure, especially for a global series with an APAC component. It gives attendees a taste of Asia whilst still being an event planner’s dream from a safety and efficiency stand-point. However, all eyes are focused on India. We are already receiving several inquiries to execute events in India as the momentum to watch and welcome India in its tremendous growth trajectory takes shape.

How can the budding and evolving companies reach you for suggestions to streamline their business?

We welcome the opportunity to work with evolving companies; as a global brand experience agency we collaborate with organizations of different shapes and sizes all around the world.  We are always excited to strategize with brands on their event marketing plan to make the most of their business message. We even offer custom strategy workshops to help brands fully develop their experiential strategies.

The easiest way to find us is by visiting our website at www.firstagency.com or on our socials. Linkedin, Instagram, YouTube.

What would be your piece of advice for budding professionals in the field?

The events industry is constantly evolving and requires a pioneering mindset to stay ahead of trends. It's essential to remain aware of sociopolitical and geopolitical factors that shape the industry, as events are heavily influenced by global happenings. The pandemic had a significant impact on the industry, necessitating a swift transition from face-to-face to digital interactions. As leaders in the field, it is crucial to give back and mentor aspiring professionals. This involves instilling sustainable goals, implementing CSR programs, and fostering a philanthropic approach aligned with clients' objectives. It's vital to educate and empower the younger generation to further enhance these essential elements and drive positive change in the industry.