Providing an avenue for people to connect may be the edge that helps your business stand out
Whether it is the ease and convenience of Singapore, the vibrancy of Bangkok or the fun and sun of Manila, Southeast Asia is growing into one of the most important events regions in the world.
To prove this point, Cvent, an events-focused SaaS company, announced their top-25 Asian events destinations and the list is dominated by Southeast Asian cities.
Plus, it did not just include major hubs like Jakarta or Hanoi, it also included smaller places like Phuket (Thailand), Bali (Indonesia) and Pasay City (the Philippines).
Also Read: If you’re going to attend one event next month, let it be Echelon Roadshow 2019 Kuala Lumpur
Southeast Asia is one of the world’s fasting growing economic regions, so the events industry is certain to ride positive macroeconomic trends. While trade wars have created some headwinds, Focus-Economics predicts external economics will only provide a slight drag on growth.
This means that an already dynamic events industry should continue to see robust growth in the coming decade.
Global companies are also taking note, highlighted by Eventbrite’s launch in Singapore on February 2019.
The company justified the move by pointing to a “rich and growing events industry”, a “passionate community of events creators” and a consumer base that enjoys the diversity of events.
The region has a variety of service providers; making it easy to find traditional companies or startups that can help with vendor procurement, operations management and even filling a dope swag bag.
Plus — and this is important! — Southeast Asia boasts fantastic food that is sure to make guests salivate. An event is nothing without good food, and Southeast Asia is one of the best food regions in the world.
Why invest in events?
Events are not simply a morale booster or a complicated networking activity, there is a lot of evidence that suggests they can make a direct, and positive, impact on a business.
According to Bizzabo, a software company, 41 per cent of respondents said offline events are the most important driver of business and 85 per cent said it is essential to their marketing strategy.
Furthermore, the study suggests the most lucrative strategy is to host events — rather than either attending or sponsoring. Yes, hosting an event takes more time and money, but the return is often much more valuable.
95 per cent of people from the Bizzabo survey said its a crucial opportunity to make deeper connections with their customers and 80 per cent of high-performing respondents plan to increase their events budget.
Somewhat ironically, it may be the increasingly digitalised nature of our work that makes events more attractive.
As people spend more and more time on their computers, they increasingly seek avenues for personal and professional connections. This means spending time attending conferences, corporate parties and educational seminars.
If someone is going out of their way to attend, for example, a coding event hosted by a local tech company, it is almost guaranteed they will spend a fairly significant amount of time researching the host company.
Also Read: This events startup takes team building up a notch with adventurous and thrilling activities
Assuming the event is a success, that business may suddenly find itself with a few more loyal customers and it will certainly keep old customers coming back.
These means Asia is a fantastic region for events
Another important characteristic of doing business in Asia is that people place a lot of value on human-to-human interaction.
Often, a typical Asian consumer might choose a company because they know the team or had the opportunity to chat with the CEO.
Furthermore, if we also include the fact that small business has always been the backbone of Southeast Asian economics — and startups are making their name in the region — event management firms are becoming an absolutely essential part of running a company in the region.
No matter the motivation, event management is an incredibly important service operating in a high growth industry.
It doesn’t get much better than that, does it?
Don’t get left behind, make sure your business is, at the very least, making sure to invest time and energy investigating Asia’s event management industry.
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Image Credit: Jakob Dalbjörn
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