Event Management Philippines: Three Challenges that Needs to be Addressed by Local Event Management Companies this 2019

Friday, September 28, 2018

Event Management Philippines

This year is sweet but not easy for the event management industry in the Philippines. Although, we still have one quarter left before we say goodbye to 2018, the trends may not change for this coming three months.

Several factors contributed to this atmosphere.

Inflation and Instability

The economic outlook of the country is in a precarious position. This must be addressed or else we will see a drop in the number of business events that will be implemented.

As we experienced in the past, the high cost of staging business events are not advisable. Companies are more inclined to find other means of affordable marketing activities.

The digital space is so attractive that most of the budget will go there if this rising prices and inflation will go unabated.

Data Privacy and Creative Lead Generation

 The Philippine Data Privacy Act passed last 2012 is a new law that is a challenge for companies that do lead generation.

It is still in its infancy but more education and forums must be conducted to appreciate the law and allow event management companies to strategize on how to follow the law, and at the same time, perform two of its most important tasks – Lead Generation and Client Engagement.

Consumers are wary of sharing their data. The law was created to protect them. Event management companies that do marketing activities that solicit data from the clients must create programs that will prevent abuses and misuse of the data.

More ASEAN Players in the Philippine Market

Competitions are getting stiffer. The increasing number of business event management companies, travel agencies venturing to event management, event management freelancers, and the biggest threat, the entry of ASEAN event management players in the country.

Competition is good. It allows all companies to be on their toes, and provide better value to the target market. However, local companies are at the disadvantage, foreign players are bringing a large stash of cash, a firepower that is hard to compete against.

This difficult situation is aggravated by the government’s lack of protection, and incentives that will give some fighting chance to local business event management companies.

In Conclusion

The road to success of the event management companies in the Philippines is stiff and narrow.

Filipinos always take pride of enduring the hardships and winning the fight. In this case, the underdog myth is never going to happen. It will take more than faith to succeed and survive next year.

As our ASEAN neighbors gear up for bigger things next year, we need to address these three challenges as a country. The synergy of government and private companies are more than ever needed and critical to change the course of the industry next year, and in the near future.

You Might Also Like


Total Pageviews