THE INDUSTRY SCENARIO
Event Management is a multi-crore industry with mega shows and events hosted regularly. in India personal functions like marriages and birthday parties have become important social matters, and have to be professionally managed. The growth of sophisticated and mega companies have brought forth a spurt of meetings, seminars, exhibitions, conferences, product launches with everything being a matter of class and style. Then comes the innumerable celebrity shows, international artists shows, shows for a cause, road shows, competitions, that India has seen of late.
More than 2000 companies have forayed into events. The early 90s has seen events spend at a mere 20 crores but now it has increased to over 5000 crores. Growth is therefore 35% annually. The Experts have estimated event management to be a 50000 crore industry by 2020. But surprisingly, research showed that there was no formalized education to teach event management and Companies found their executives not up to the mark to handle events. It was not so easy to train because event management includes organizational skills, technical knowledge, P.R., marketing, advertising, catering, logistics, decor, glamour identity, human relations, study of law and licenses, risk managements, budgeting, study of allied like television and other medias and several other areas.
The Present Scenario is extremely positive and this is the right time to open small & medium sized Event Companies. NIEM students are taught how to form an Event Company and many of them have successfully done it.