Market Trends of Europe Event Logistics Industry
Most important function is transportation
The sector of transport and logistics holds an average return on equity (ROE) of 0.86% in Western Europe. Western European air transport companies reported average returns on equity of about -45.75% as of January 2022. Many nations are upgrading their transport infrastructure to increase the flow of trade in Europe. For instance, construction projects are used to develop infrastructure in Germany and the United Kingdom. In Germany, the length of all highways will increase as well. They grew by 28.79% YOY to 8,30,000 km in 2022 from 6,44,480 km in 2021.
In Germany, the market for road freight transport is anticipated to expand both nationally and globally due to the increased attention on roads and infrastructure. During the COVID-19 pandemic, the government allocated EUR 20.06 million (USD 24.63 million) to five crucial freight lines connecting Great Britain and Northern Ireland. To help frontline responders during the COVID-19 crisis, a Transport Support Unit was also included in the package of actions.
The take-up of logistics investments in Europe increased by 13% YoY to reach approximately USD 34 billion in H1 2022. This development was fueled by the expansion of e-commerce, which increased by 13.3% YoY in 2021 to reach roughly EUR 88.1 billion (USD 94.04 billion). Due to the expansion of e-commerce, the domestic sector of the European courier, express, and package business earned 69% of the total revenue in 2021.
Global Events resumed
All significant events across all categories were postponed or canceled due to the COVID-19 epidemic. It covered both the formal and informal economies, as well as occasions like trade exhibits and sporting events. The damage to the events industry was severe yet controllable. The sector included the possibility of adjusting and bringing fresh approaches to event planning. The live event industry adapted and included more digital technologies. It was to create hybrid live/virtual events that ultimately raised the potential scale of any live event. Numerous sports leagues, including the NBA and MLB, resumed the play. However, spectators were not allowed, and players and staff were required to adhere to stringent health regulations.
Hybrid events became more popular in 2021. The "The Future of Virtual Events" report from fairs stated that 38.8% of those polled believe hybrid events will be the most well-liked in the upcoming year. As a result, hybrid events became more popular in 2023, increasing attendance. Previously, events were considered a source of income and treated accordingly. Now, it is also attracting attention as a PR activity. Instead of catering to a small number of people at private events, companies are publishing virtual and hybrid events to reach a wider audience. It will target people at multiple points in the sales funnel.
The European live events market saw sales decline due to the coronavirus pandemic. However, ticket sales returned to pre-pandemic levels in most live entertainment categories in 2022 as live events resumed to generate approximately USD 9.72 billion across the region.
