Event management market in the GCC to reach $120.73 billion

The event management market in the GCC is on a rapid growth trajectory, expecting to reach $120.73 billion by 2029, growing at a CAGR of 9.06% during the forecast period (2024-2029), as per Mordor Intelligence. Several key factors drive this growth, including substantial infrastructure investments, a burgeoning tourism sector, and a strategic push for economic diversification.

To maintain its competitive edge in the booming global events market, the GCC should focus on leveraging its established strengths, particularly in high-profile sectors like sports, technology, and culture. “The region has made significant strides with iconic events such as the FIFA World Cup in Qatar and Expo 2020 in Dubai. By prioritising key verticals such as these, the GCC can further solidify its reputation as a global leader with deep expertise in these areas while continuing to host a diverse range of events. This strategy allows for more differentiation and long-term sustainability, ensuring that the GCC can attract more investment, tourism, and partnerships in those areas,” James Bulley, CEO and Co-founder, Trivandi, said in an interview.

The Middle East, particularly the GCC, has emerged as a dynamic powerhouse in the global events industry. The region’s ambition and strategic vision are evident in its successful hosting of world-class events like the FIFA World Cup, Expo 2020 Dubai, COP28, and high-profile Formula 1 Grand Prix races.

“Beyond hosting, GCC governments are proactively shaping policies that redefine event planning and execution, positioning themselves as pioneers in the field,” Bulley said.

By hosting major events, the GCC introduces new audiences, cultures, and perspectives to the global stage, supporting industry growth while promoting cultural exchange. The region is also a leader in innovation, integrating cutting-edge technology and sustainable practices into event hosting. Its investment in infrastructure is setting new standards globally. “Furthermore, the GCC’s focus on talent development and economic diversification underscores its commitment to building a thriving, resilient events ecosystem. As global demand for impactful events grows, the GCC is not just keeping pace – it is setting new benchmarks that will inspire the industry’s future direction,” Bulley said.

Delivering major events is a highly complex process with huge levels of financial and operational responsibility. “It requires in-depth knowledge and understanding, as well as exceptional skills and expertise. Multiple functional areas and skillsets need to come together, including transport, security, logistics, finance, technology, accommodation, venue management, sustainability, sponsorship and much more. This multidisciplinary complexity requires meticulous planning, integration and project management to align diverse teams towards the immoveable deadline of the event itself, often under intense national and global scrutiny,” Bulley said.

When Bulley started working on the London 2012 Olympics, over 21 years ago, there were very few people in the UK who had worked on the delivery of an Olympic Games. “So we relied heavily on international expertise to guide us through the strategy and planning phases. Similarly, the GCC’s relatively short history of hosting major events means that the local talent pool with specialist skills is still in its infancy and organisations are looking to upskill their workforces ahead of some of the world’s biggest events coming to the region over the next 5-10 years,” Bulley said.

As demand for large-scale events grows, particularly in regions like the GCC, building a skilled workforce is essential. “Through targeted professional development initiatives, such as academy programmes and tailored training, Trivandi empowers event professionals to excel in their roles with the necessary skills, while integrating sustainability into their work,” Bulley said. “By combining professional development with a strong focus on sustainability, Trivandi ensures the events sector remains resilient, forward-looking, and creates positive impacts for people and the planet for generations to come,” he added.