AusLeisure

Cvent, an industry-leading meetings, events, and hospitality technology provider, has released the Australian edition of their Event Industry Report for 2024 which indicates a positive outlook in the event industry in Australia with event technology and sustainability taking the spotlight.   

The Cvent Event Industry Report 2024 aims to provide event professionals with insights into the latest trends to help them navigate the changing event landscape, make informed decisions, and discover opportunities to offer more engaging and impactful experiences to their target audiences. 

The report reveals that event planners plan to increase their events across formats. This trend is expected to continue, with a projected 52% increase in in-person events, followed by hybrid events at 50%, webinars at 48%, and virtual events at 41%. The shift in event formats is driven by the growing demand for more interactive and immersive event experiences.

The report highlights that this year, we see a positive market sentiment echoing in Australia, with 66% of event professionals planning to increase their event spending and 95% prioritising event expenditure. The report also indicates that revenue from an event emerged as the biggest challenge, followed by event tech challenges as the second biggest pain point. Still, with significant investment in event technology at 48%, we are seeing a rise in tech adoption and the number of events being organised.

With event budgets increasing and event expenditure becoming a priority, the report also highlights how organisations are willing to spend on event technology if the budget allows, with 20% iterating the sentiments, followed by 18% emphasizing event promotions and onsite experience at 17%. With technology becoming a powerful facilitator and affecting budget increase, excellent customer support, ease of use, and reliability come across as top governing factors in selecting event management tech. The report further showcases Australia’s high receptiveness to tech advancements in the events industry, with 54% of organizations identifying themselves as early adopters of Event Technology solutions, such as event websites and registration, event mobile apps, and all-in-one event platforms (supporting virtual and hybrid).  

In addition, sustainability continues to remain a prime focus. It should not be overlooked, with 81% of respondents claiming a sustainability target for their events, 66% willing to track event/attendee carbon footprint to become more sustainable, and 72% of organisations implementing sustainability in events last year. 

Jack Ukil, Head of Cvent Australia notes “The Events Industry in 2024 has undergone significant transformations, sparking increased investment and ambitious goals among event organisers and marketers in Australia. This surge in activity mirrors the sustained growth witnessed in the industry. However, generating revenue remains challenging, underscoring the growing importance of aligning events with business objectives to maximise return on investment and demonstrate value.

“Furthermore, customer support has emerged as a crucial driver for event tech purchases, while sustainability is now viewed not merely as a compliance measure but as an opportunity to establish trust with attendees. The Cvent Event Industry Report remains invaluable in this dynamic landscape, providing essential insights and serving as a guiding star for professionals as they navigate current and future industry trends”.

Access the full report

Related Articles

27th June 2024 - Sydney Showground partners with Clima to target event sustainability

13th June 2024 - Jinko Solar expands its sustainability reach across sport, cinema and resorts

10th May 2024 - Tourism Industry Aotearoa launches new programme to advance sustainability initiatives

9th May 2024 - Tourism leaders to consider sustainability concerns at TTF Green Revolution Summit

8th May 2024 - Adelaide Venue Management reveals plans for operational sustainability

8th May 2024 - Gold Coast Convention and Exhibition Centre launches five-year Sustainability Strategy

7th May 2024 - Accessibility and Sustainability among panel discussion topics at AALARA Conference 2024

3rd May 2024 - WTTC hotel sustainability program verifies 3,400 properties

28th April 2024 - ASM Global makes Chief Sustainability Officer appointment

17th April 2024 - SEA Summit delivers insightful program on sport and sustainability practices and climate challenges

5th April 2024 - MCEC hosts sustainability awards and spotlights its circular economy efforts

2nd April 2024 - Adventure Travel Trade Association launches sustainability policy and fund

27th March 2024 - Piscine Global to present a new look at swimming pool sustainability

22nd March 2024 - Partnership champions Hotel Sustainability Education in Asia

21st February 2024 - Cvent returns to AIME 2024 as Official Event Tech Partner for Third Consecutive Year

24th May 2023 - Singapore tops Cvent’s Asia Pacific list of meeting destinations and hotels with Sydney ranked second

14th April 2023 - Cvent reports 2023 corporate travel volume to exceed pre-COVID levels

9th June 2020 - Cvent secures award for Best Event Technology at the MEA 2019 Awards

6th August 2018 - Cvent shares guidance on planning and managing events

16th August 2017 - Cvent continues growth across Asia-Pacific region

---

Support our industry news service
We hope that you value the news that we publish so while you're here can we ask for your support?

As an independent publisher, we need reader support for our industry news gathering so ask that - if you don't already do so - you back us by subscribing to the printed Australasian Leisure Management magazine and/or our online news.