SEPTEMBER 2023MARTECHOUTLOOK.COM19CHALLENGES IMPACTING EVENT INDUSTRYHow are we meeting our sustainability goals and focusing on the sustainability goals of our clients?Some actionable items that we at FIRST are adopting:Our goal is to be constantly innovating and educating to create tangible change. To not just offset, but to actively increase our positive impact on both our people and our planet. We created a team dedicated to this operating under the name of Paramount, whose mission is to build a culture that supports People, Purpose & Planet.We have identified our significant impacts and ensure we address them through clear and measurable objectives. Our leadership is accountable for the improvement of our performance, and we're updating our governance processes.We have robust processes against human trafficking and slavery, encourage supplier diversity, and are implementing a supply chain ESG performance monitoring system. Collaboration and dialogue are key drivers. Our immediate focus is on bringing our internal teams up to speed with sustainability challenges. As we are building and deploying our responsible business plan, we are committed to measuring and communicating our performance on our ESG objectives. It includes the environmental impacts and carbon footprint of our organization to minimize our impact.What are some of the predictions/reflections you have around the Events Industry in ASEAN particularly emerging markets post COVID?APAC has taken longer to open up vs the rest of the world and there is still some trepidation and uncertainty around COVID procedure and whether some of the emerging markets are back up to pre-COVID service standards. This has resulted in mature `safe' markets such as Singapore, Hong Kong and Sydney being even more inundated than normal with requests and venues being booked well into next year plus the price point to match.The fact that Asia Pacific continues to enjoy strong economic growth and stability signals good news for the events industry here though, and the emerging destinations like Cambodia, Philippines, Sri Lanka, and Vietnam are competing to win back the business that they had secured prior to the pandemic. "With budgets remaining mostly flat in APAC across most meeting categories, companies are again looking to re-ignite much needed face to face interaction and offer unique experiences in a cost-effective manner,"Planners are again looking at unique locations to entice participation and impress clients. Emerging destinations offer value-for-money facilities, authentic cultural activities, and heritage sites. They are like a blank canvas with plenty of potential to create truly unique experiences. The lower-cost advantage in these destinations makes them even more alluring.However, event destinations that newly emerge are prone to risk. Political stability, social welfare and positive economic development are the key drivers. A location needs to have improved infrastructure, decent lift and access -- basic necessities for experienced event destinations, but not always in emerging locations. These destinations are not always a logical choice for larger events or incentives, but more suitable for smaller ones. Potential pitfalls, such as sub-standard transport, technology, and audiovisual, travel issues like complicated visa requirements, and limited options in terms of payment. "You need to look at a combination of safety and geopolitical influences, internal infrastructure and event-related services, paired with general accessibility to the destination, If any one of these is questionable, then we advise our clients to consider their duty of care to their employees or the meeting attendees."To reduce risks, such as safety hazards or dealing with disreputable operators, it's common for meeting organisers to stick to cities and suppliers with which they're familiar. While The events industry is constantly evolving and requires a pioneering mindset to stay ahead of trends
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