Events Planner Demand
How Much Demand is
There for Events Planners?
market for event planners and the size of the event planning
industry is far larger than you may at first imagine - and it is
growing at a very rapid rate. Event planning is a relatively new
industry which is, in fact, still considered to be in its infancy
stages. That translates into exceptional opportunity for individuals
interested in careers in this field at this time.
Twenty years ago,
the term 'event planner' was not recognized as a career option and
the term itself was not often heard. The number of people who called
themselves event planners was extremely small and this line of work
was not always taken seriously. However, within the last twenty
years, the field of event planning has 'come into its own' and has
experienced - and continues to experience - a very rapid rate of
growth. Moreover, event planning is now regarded as a respected and
As a result, the
timing could not be better for anyone with an interest in an event
planning career to be entering this field. The market for event
planners is hot and the industry offers much to those who are
entering it now. Put plainly, there is good money to be made in this
rapidly growing new field.
Why All the New Demand?
So just what
accounts for this increased level of demand in the field of event
planning, making it such a hot new area of employment? There are a
couple of factors.
Let's begin with
the area of corporate event planning. Keep in mind that in this
industry the term corporate event is often used rather loosely to
also take in the events planned by associations, organizations,
charitable groups, educational institutions, and so forth - in
addition, of course, to company events.
The majority of
the events planned in the corporate sector are meetings, conventions,
and seminars. Producing these types of events is continualy becoming
more costly. At the same time, meetings are playing an increasingly
important role within many organizations. The number of meetings,
conventions and seminars held annually by US and Canadian
organizations (companies, associations, etc.) has been rising
dramatically in the last number of years.
increased level of interest in meetings, conventions and seminars
with importance of meetings, the growing numbers of these events
taking place each year, along with the rising costs of producing them
and you are witnessing the birth of a whole new profession - that of
the "meeting planner". Organizations, associations, and
corporations, as we said earlier, are now recognizing the need to
hire employees whose sole purpose is to plan and produce these
meetings, effectively and affordably.
And then there's
the area of private social functions (party planning, etc). What
accounts for the big burst of growth there?
Much of that has
to do with the changing role of women in our society. In decades
past, women took charge of handling all of the details and
preparations involved in planning their own social events, whether
they were weddings, anniversary parties, family reunions, bar
mitzvahs, bat mitzvahs, retirement parties for loved ones, and so on.
And if one woman in the family didn't have time for the task, there
was almost always another female member in the family who did.
For many people
that simply is not the case anymore. Over the last few decades we
have witnessed more and more women becoming permanent fixtures in the
work force. In fact, unlike in days gone by, not only are women out
of the house and into the workforce - they have careers. Sometimes
they own the company.
In today's world,
women are just as likely as men to pursue high levels of education
and hold high powered jobs. They lead busy lives and work long hours
just like their male counterparts, often while still juggling the
responsibilities of raising children. Who's got time to plan a party?
Or a huge life event like a wedding? Ask any one who's done it and
they will tell you - that in itself is like a full time job.
any other time in history, women are now pulling in some pretty
sizable incomes. Those careers and high powered jobs are yielding
some big bucks and many of today's women have more money than they do
time. Those who are married generally have husbands in the same
income bracket. When you combine their incomes, these are people who
see greater justification in hiring an event planner to handle the
arrangements for the parties, weddings, and other social affairs they
are planning, than they do in investing their valuable time into
worrying about it themselves.
At the present its
difficult to fully and precisely determine the total market size of
this new industry because it is so wide spread and includes so many
Suffice it to say
that calling it 'HUGE' is no exaggeration. Estimates are that the
event planning industry is generates over $500 billion dollars in
revenues a year.
To give you a
better idea, let's look at the size of just one of the many segments
of the vast event planning market for which we do have some reliable
data - the area of corporate or association meetings (this also
includes seminars and conventions).
Next to weddings,
meeting planning is one of the hottest segments of the entire event
planning industry. Back in 1991, there were over 1 million corporate
or association meetings and conventions which took place in the US,
as reported in the 1992 Meetings Market Report, conducted by Market
Probe International, Inc. for Meetings & Conventions/Reed Travel Group.
According to the
same report, that year a total of $35 billion was spent on meetings
alone. Just seven years later, in 1999, Meeting Professionals
International, a highly respected industry association for event
planners who specialize in meetings, estimated the total amount spent
on meetings had grown to in excess of $85 billion per year - a
phenomenal increase in an incredibly short period of time. And it has
continued to grow each year since then.
Now, keep in mind
that this dollar figure represents only one facet of the event
planning industry as whole, and does not take into account the amount
of money spent each year on other forms of corporate events,
fund-raisers; or on private events, including weddings (a $60 billion
dollar a year industry all on its own!) and parties.
There can be no
question, events have become BIG business.
The Future of the
Event Planning Industry
the future for professional event planners will continue to be
extremely strong. This is an industry where heavy growth and
opportunity are forecasted, particularly in the area of corporate and
association events. Business meetings are becoming increasingly
expensive to produce, but also increasingly important. As mentioned
earlier, companies are recognizing that meetings and seminars provide
a powerful means for them to communicate with the individuals who
make up their intended audiences and so they are now putting a
heavier emphasis on these types of events.
With that being
the case, many companies are acknowledging the very real need to hire
specialized personal who can devote their attention to planning
meetings efficiently. They want professionals who are qualified and
talented in this area so that ordinary meetings and events become
extraordinary. Further, they want these events planned as cost
effectively as possible so that they will deliver the biggest bang
possible for the buck.
The area of social
event planning also show very healthy growth. Noticeable trends
towards larger, more lavish affairs and increased expenditures on
these types of events, causing professional planners for these types
of events to smile and say, "Party on!".
With the trend in
society as a whole constantly moving towards more hectic and hurried
lifestyles, it only further contributes to the rapidly growing demand
for event planners. As individuals become increasingly busy and short
on time, they are finding practical justifications for turning over
the coordination and planning of their events - whether they are
business events or social events - to the pros.
Next: How to
Please feel free
to peruse the free information on this website to learn more about how
to become an event planner. In addition to that, we also highly
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