The Covid-19 and the restrictions imposed to curb, it collapsed the turnover of companies in the event industry. The plight of the industry was not obvious to policymakers or the media, as the entire industry has, in a way, flown under the radar. This is due, among other things, to international statistical practices. The event domain consists of actors who are statistically spread across many different domains.
On the other hand, it was the distress caused by the corona that gave impetus to study the economic role of the event industry. In September, the Finnish Business Research Institute (ETLA) published a report according to which the event sector accounted for more than one per cent of GDP and almost two per cent of the country's employment in 2019. ETLA's economists did not take the multiplier effects into account this time.
There is enough work to be done in the development of statistics in the event sector for the coming years. As a member of Statistics Finland's Advisory Board, I am confident that solutions will be found both domestically and internationally. However, when assessing the significance of the event industry, various qualitative factors should also be highlighted. They are also the main reasons why JIM Seven and I are involved in the industry.
First, the actors in the event industry allow for those thrilling moments that make people gasp for breath and feel something that makes them endure heavy everyday life and even crises like corona. Second; the players in the event industry are agents of change. They help companies successfully strengthen and renew their brand and launch new products and services. Actors in the event industry are reforming general and association meetings in a way that strengthens the relationship between companies and organizations and the owner and member communities. Together with their partners, the players in the event industry create empty days and small Christmases for their customers that matter.
Taking a deeper look, the actors in the event industry are key players in both the market economy and the communities. Demand and supply shake hands, networks emerge, and partnerships are strengthened in meaningful encounters organized by event producers. Communities are built and strengthened in events that bring people together locally and locally. The attractiveness of events also prevents exclusion.
It is great to see that the economy and society are finally starting to open. In terms of transactions, the quieter period has been used to hone services and processes so that we are an even more impressive partner for our customers. At JIM Seven, along with the entire industry, we’re excited about the opportunity to get back to our core mission - that is, to produce engaging, transformative events in these times!
JIM Seven Oy