The French market is sized: 32 billion euros of impact
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In a sector that had no measurement, little by little sizing exercises appear of what we weigh. Canada, USA, United Kingdom had done these exercises, now comes the turn of France. Commissioned by a group of organizations and professional institutions, we get this study on the weight and impact of corporate and institutional events, which (as we already sensed) demonstrates the economic importance and strategic dimension of this segment.
The objective of this study, which was entrusted to EY, was to have a global vision of the corporate and institutional events market. This study complements the studies on the impact of other segments of the events (trade fairs and exhibitions in 2011 and conferences in 2012).
- 380,000. It is the number of corporate and institutional events organized in metropolitan France in 2018. 54% are seminars with the objective of a common reflection or definition of strategic axes, 20% concern corporate parties to unite teams and create company culture; and 13% are external communication events intended to inform and convince a target audience.
- 52 million. It is the total number of participants. It is almost the gala population, with which we see the wide impact of this format (although obviously some have gone to several events and others to none).
- 60%. It is the part of the public that resides in the region where the event takes place, which means that we speak mostly of a local market. With 32% of the participants, the Paris region is the first host region.
- 32 billion euros. It is the total economic impact, of which 52% benefits the companies producing events (reception, development, contents, catering, spaces, etc.) and 48% to other industries such as transport, accommodation, catering, commerce. We note here the considerable induced impact of events at the tourism and shopping level.
- 335,000 jobs (full time equivalent). This is the impact of this sector on the employment market, or more than 1% of the active population.
Next market to size: ours? To be continued…
