GCC Event Management Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 78.25 Billion |
| Market Size (2029) | USD 120.73 Billion |
| CAGR (2024 - 2029) | 9.06 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
GCC Event Management Market Analysis
The GCC Event Management Market size is estimated at USD 78.25 billion in 2024, and is expected to reach USD 120.73 billion by 2029, growing at a CAGR of 9.06% during the forecast period (2024-2029).
The Gulf Cooperation Council (GCC) is one of the world鈥檚 fastest-growing economies. A surge in oil revenues, substantial infrastructure investments, a booming tourism sector, and a concerted push for economic diversification have been pivotal in fueling the region's economic growth. This upswing in prosperity has, in turn, spurred the demand for a range of events, including corporate gatherings, conferences, expositions, weddings, fiestas, and entertainment shows.
The GCC region has cemented its position as a global hotspot for mega events, spanning exhibitions, sports competitions, cultural showcases, and entertainment extravaganzas. These events draw millions of attendees and rake in substantial revenues, showcasing the region's prowess on the global stage. This surge in events has catalyzed the growth of the event management industry in the GCC.
The Gulf states boast a lineup of prestigious sporting events. Along with the FIFA World Cup, the region hosts renowned golf tournaments like the Dubai Desert Classic and showcases horse racing events, notably the Dubai World Cup. The region's sports scene is diverse, with emerging sports like Padel tennis gaining traction. Abu Dhabi, for instance, is set to host the World Professional Padel Tennis (WPT) Middle East Master next month. The UAE already boasts over 350 Padel courts. With the UAE's Sports Sector Strategy (SSP) 2032 and its global sports investments, the region presents a promising landscape for health and fitness entrepreneurs and investors.
Event management companies in the Gulf are known for their excellence, agility, cost-effectiveness, and unwavering commitment to client satisfaction. These firms offer various services, from managing seminars, conferences, and weddings to organizing concerts, festivals, and corporate events.
GCC Event Management Market Trends
The Push for Growth in the Exhibitions Sector Has Contributed to the Expansion of the Event Management Sector
The hospitality and event management sectors in the GCC (Gulf Cooperation Council) are closely intertwined, with changes in one industry significantly impacting the other. Saudi Arabia leads the region in hospitality revenue, followed by the United Arab Emirates, Qatar, Bahrain, Oman, and Kuwait.
According to DWTC, overseen by the Dubai World Trade Centre (DWTC), the global hub for events and exhibitions, Dubai's events sector experienced a notable 25% growth in the previous year. It hosted 107 exhibitions, international association conventions, and industry conferences.
Recognizing the sector's potential, GCC governments are investing heavily in tourism, focusing on upscale hotels, resorts, and cultural landmarks. The GCC is cementing its global appeal by hosting flagship events like the F1 Grand Prix, Dubai Shopping Festival, and Riyadh Season. This strategic push bolsters the hospitality sector and showcases the region's diverse attractions, ranging from historical sites and museums to desert landscapes, islands, diving spots, and mountain retreats.
The UAE is Expected to Dominate the Event Management Industry
Dubai, renowned as the global events hub, hosts a blend of East-West events, making it a must-visit for tourists in the UAE. The city hosts some of the world's premier events at top-notch venues. The event industry in the UAE and Saudi Arabia has been witnessing remarkable growth, driven by a surge in demand for corporate events, conferences, exhibitions, weddings, and social gatherings.
Dubai's position as a leading destination for meetings, incentives, conferences, and exhibitions (MICE) is rising, underlining its increasing importance. In the initial half of 2023, the city experienced an impressive 45% surge in bids for business events, contributing significantly to its economic growth.
These event wins underscore Dubai's robust growth in the business events sector and highlight its broader economic expansion. The city secured 24 association conferences and meetings, bolstering its knowledge economy. Additionally, Dubai clinched 84 incentives, buoyed by resurgent interest from China and sustained momentum from India.
GCC Event Management Industry Overview
The GCC event management industry is consolidated. Firms are looking for ways to invest in the GCC to increase sales through brand ambassadors. GCC event management companies include Urban Events, Skyhigh, The Event Company, Luxury KSA, Emerald Events and Exhibitions, and Urban Events Global.
GCC Event Management Market Leaders
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Sky High
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The Event Company
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Luxury KSA
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Emerald Events and Exhibitions
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Urban Events Global
*Disclaimer: Major Players sorted in no particular order
GCC Event Management Market News
- March 2024: Emerald Holding Inc. acquired Hotel Interactive (HI), a distinguished B2B digital media platform renowned for its high-quality hosted-buyer events in the hospitality and senior living industries. Following the acquisition, HI became part of Emerald's Connecting Point Marketing Group (CPMG). This strategic integration was intended to enhance their existing portfolio of premium-hosted buyer events, facilitating meaningful one-on-one interactions among industry leaders in significant verticals.
- November 2023: Emerald Holding Inc. acquired Cocina Sabrosa, the sole B2B event in the US exclusively dedicated to Latin food and beverage. Originating as a regional event in Southern California, Cocina Sabrosa underwent enhancements and expansion to become the inaugural Latin food & beverage industry event in the United States. This transformation was intended to cater to the expanding business sector encompassing restaurateurs, grocers, suppliers, and entrepreneurs.
GCC Event Management Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 The Corporate Sector Events is Expected to Take the Lead in the Market
4.2.2 High Number of Organizing Events Related to Several Social, Cultural, and Political Functions or Programs Require Management Services.
4.3 Market Restraints
4.3.1 Cultural Sensitivity to Consider Technological Advances Impacting Traditional Event Practices
4.3.2 Rise in Virtual Events
4.4 Market Opportunities
4.4.1 The Growth of the Event Management Market is Expected to be Driven by an Increase in Infrastructure Investments and Technology Advancements.
4.4.2 The Rise in the Number of Tourist Arrivals to Boost the Industry
4.5 Porters Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products and Services
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Event Type
5.1.1 Meetings
5.1.2 Incentives
5.1.3 Conventions
5.1.4 Exhibitions
5.1.5 Others
5.2 By Application
5.2.1 Academic
5.2.2 Business
5.2.3 Political
5.2.4 Others
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Urban Events
6.2.2 Sky High
6.2.3 TEC
6.2.4 The Event Company
6.2.5 Emerald
6.2.6 Plan3Media
6.2.7 CWE
6.2.8 M&M Group
6.2.9 Great Wall Events
6.2.10 GM Events*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
GCC Event Management Industry Segmentation
Event management entails the strategic application of project management principles to plan, execute, and oversee large-scale events.
The GCC event management industry is segmented by event type and by application. By type, the industry is segmented into meetings, incentives, conventions, exhibitions, and other event types. By application, the industry is segmented into academic, business, political, and other applications. The report offers market sizes and forecasts in terms of value (USD) for all the above segments.
| By Event Type | |
| Meetings | |
| Incentives | |
| Conventions | |
| Exhibitions | |
| Others |
| By Application | |
| Academic | |
| Business | |
| Political | |
| Others |
GCC Event Management Market Research FAQs
How big is the GCC Event Management Market?
The GCC Event Management Market size is expected to reach USD 78.25 billion in 2024 and grow at a CAGR of 9.06% to reach USD 120.73 billion by 2029.
What is the current GCC Event Management Market size?
In 2024, the GCC Event Management Market size is expected to reach USD 78.25 billion.
Who are the key players in GCC Event Management Market?
Sky High, The Event Company, Luxury KSA, Emerald Events and Exhibitions and Urban Events Global are the major companies operating in the GCC Event Management Market.
What years does this GCC Event Management Market cover, and what was the market size in 2023?
In 2023, the GCC Event Management Market size was estimated at USD 71.16 billion. The report covers the GCC Event Management Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the GCC Event Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
GCC Event Management Industry Report
The GCC Event Management Market is segmented by event type, including meetings, incentives, conventions, exhibitions, and other event types, as well as by application, such as academic, business, political, and other applications. The report offers a comprehensive industry analysis, highlighting the market size and forecast values in USD million. This industry report provides an in-depth market overview, detailing the market segmentation and market value.
The industry trends indicate a significant growth rate within the GCC event management industry. The market forecast suggests a positive market outlook, driven by increasing industry sales and market growth. The industry profile includes industry statistics and market data that underline the market leaders and their contributions to the market.
A thorough market analysis reveals the industry's current position and future potential, with a focus on market predictions and market review. The report pdf is available for those seeking detailed industry information and market research.
Overall, the industry research highlights the industry's growth, supported by comprehensive market segmentation and market review. The report example provides a clear understanding of the market trends and industry outlook. This industry overview is essential for research companies and stakeholders looking to understand the market dynamics and make informed decisions.
