MONTHLY COMPILATION

The Beautiful Incalculability of Our Inherently Messy Industry

Having worked in our sector for almost four decades, it’s fascinating to observe the continuing struggles to “define” our industry, to calculate its value, impact and outputs, to get policymakers and business leaders (and even our own industry insiders!) to recognise its massive scale and scope. The latest chapter is the belated recognition by venture capital, well covered in this edition’s Features section, that business events are truly worth multi-billion-dollar investments. These huge investors can see that trust-building face-to-face interactions are the only smart play in the era of AI disinformation, and many will no doubt aim to build near-monopolies that can “own the vertical” in selected growth industries.

But can they succeed? Will they be able to replicate the controlling power of Big Tech, Big Finance and the many B2B and B2C sectors that are increasingly run by small numbers of mega-corporations?

In a word (and thankfully!), the answer is “no”: we are simply too messy! We have almost no barriers to entry: any smart idea or under-accommodated challenge or passionate and driven individual can kick-start a successful meeting. Associations, companies, entrepreneurs, small groups of like-minded experts, even cities are all potential players and competitors in any given field. We have almost no barriers to exit: delegates and sponsors can vote with their feet after a single unhappy experience with zero penalty. If a Congress centre isn’t available we can organise in a park or across an entire city. If one destination won’t play ball, there are thousands of others ready to step into the breach to host or even to invent a competing event themselves. There will always be more events than we can count; and millions of individual outcomes that are never quantified.

Having said that, policymakers always feel the need for facts and figures, and advocates have to respond. In our Reports & Research section you’ll find plenty of ammunition, from EIC’s and Oxford Economics’ broad-brushstroke US$1.3 trillion worldwide estimate, to IAPCO’s €17.36 billion value related just to the events run by its members, to GCB’s country-specific barometer, to single-venue impact reports.

Perhaps more importantly, and definitely more messily, Case Studies from Strasbourg, Copenhagen and across Canada will provide a different perspective, defining value less in dollar or euro terms and more in terms of healthcare improvements, knowledge transfers, and societally valuable legislative change, all incredibly difficult to quantify but invaluable stories to communicate. Meanwhile under News, you can gain a sense of the complex evolution of our industry in real time, from Vietnam to Washington DC, from China to Paris!

Getting back to messiness: our Opinions section demonstrates this nature of our industry perfectly! Scepticism and idealism, calls to move from promises to proof, despair, utopianism and realism. The business events sector doesn’t lack for passionately held views. And it is precisely in the cauldron of differences of opinion and experience and perspective at every meeting that genuine innovation and societal progress take shape.

Finally, alongside its often beautiful messiness, another incalculably valuable attribute of our industry is altruism. Few things exemplify this better than the Destination Canada Legacy and Impact study, whose invaluable insights and case studies are shared throughout this newsletter, and Copenhagen Convention Bureau making their innovative Risk Navigator, a comprehensive toolbox of risk management models and resources, freely available to their peers and competitors worldwide. Check out these and other inspiring stories below!

The Curator

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