Ireland Events Tourism Market Report 2022
€ 1,800 (Excl.Tax)
Description
“The events tourism industry will take time to recover from the losses incurred by the COVID-19 pandemic as consumers will be encouraged to attend concerts and festivals that can now go ahead. However, the current cost-of-living crisis means consumers have less to spend on luxury products/services, such as event tickets, and are instead engaging in intentional spending which is causing increased demand for companies to improve their offerings to justify the price and make the experience more worthwhile.”
– Rebecca Blenman, Market Research Analyst
This Report looks at the following areas:
- The impact of the cost-of-living crisis and the Ukraine war.
- How businesses are adapting to labour shortages.
- The impact of rising ticket prices.
- Opportunities for companies to improve their sustainability efforts.
- The impact of rising insurance cover.
Table of Contents
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Overview
- What you need to know
- Key issues covered in this Report
- COVID-19: market context
- Issues covered in this Report
- What you need to know
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Executive Summary
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- The market
- The short-, medium- and long-term impact of COVID-19
- Figure 1: Expected impact of COVID-19 on the event tourism industry, short, medium and long term, 2022-27
- The IoI events market to recover post-pandemic
- Figure 2: Estimated market value for events tourism, IoI, NI and RoI, 2017-27
- Price to attend events is increasingly out of reach for consumers
- Figure 3: CPI vs cultural services (including concerts and festivals), UK (including NI), 2020-22
- Figure 4: CPI vs cultural services (including concerts and festivals), RoI, 2020-22
- The continued financial impact of the cost-of-living crisis and Ukraine war
- Figure 5: “Have you been affected by any of these issues over the last two months?”, IoI, 2022
- The cost of fuel is impacting access to live events
- Figure 6: Consumers who have been affected by increases in prices of petrol/diesel/gasoline over the last two months, IoI, 2022
- The implementation of dynamic pricing sends ticket prices soaring
- Figure 7: Selected key factors driving consumer behaviour around value, IoI, 2022
- Higher insurance costs a challenge to events companies
- How businesses are adapting to staff shortages
- IoI tourism and events industries commit to improving sustainability
- Innovations
- The consumer
- Half of IoI consumers have not attended an event in the last two years
- Figure 8: Types of music events attended in NI or RoI in the last two years, NI and RoI, 2022
- Figure 9: Types of non-music events attended in NI or RoI in the last two years, NI and RoI, 2022
- Interest in events held in local community
- Figure 10: Factors that would encourage consumers to attend more events, NI and RoI, 2022
- Consumers want better quality to justify paying higher ticket prices
- Figure 11: Consumer attitudes towards events, NI and RoI, 2022
- What we think
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The Market – Key Takeaways
- The IoI events market to recover post-pandemic
- Price to attend events is increasingly out of reach for consumers
- The continued financial impact of the cost-of-living crisis and Ukraine war
- The cost of fuel is impacting access to live events
- The implementation of dynamic pricing sends ticket prices soaring
- Higher insurance costs a challenge to events companies
- How businesses are adapting to staff shortages
- IoI tourism and events industries commit to improving sustainability
- The IoI events market to recover post-pandemic
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Market Size and Forecast
- The short-, medium- and long-term impact of COVID-19
- Figure 12: Expected impact of COVID-19 on the event tourism industry, short, medium and long term, 2022-27
- The IoI events market to recover post-pandemic
- Figure 13: Estimated market value for events tourism, IoI, NI and RoI, 2017-27
- Historic sites, parks and forests the most popular attractions in 2020
- Figure 14: Percentage share of attraction visits, NI, 2020
- Figure 15: Percentage share of attraction visits, RoI, 2020
- The short-, medium- and long-term impact of COVID-19
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Market Drivers
- The price of cultural services is increasing with CPI
- Figure 16: CPI vs cultural services (including concerts and festivals), UK (including NI), 2020-22
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- Figure 17: CPI vs cultural services (including concerts and festivals), RoI, 2020-22
- The impact of the cost-of-living crisis and Ukraine war on accessibility
- Figure 18: “Have you been affected by any of these issues over the last two months?”, IoI, 2022
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- Figure 19: “What, if any, effect do you think the situation in Ukraine will have on your household’s finances?”, IoI, 2022
- The cost of fuel and travel
- Figure 20: Consumers who have been affected by increases in prices of petrol/diesel/gasoline over the last two months, IoI, 2022
- Rising ticket prices another barrier for consumers
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- Figure 21: Selected key factors driving consumer behaviour around value, IoI, 2022
- Soaring insurance fees a hindrance to openings
- Post-pandemic staff shortages are a challenge for the industry
- Sustainability efforts of the events sector
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- Figure 22: “How environmentally friendly would you say your lifestyle is?”, NI and RoI, 2022
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- Figure 23: Selected consumer attitudes towards accommodation, NI and RoI, 2022
- The price of cultural services is increasing with CPI
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Innovations – Key Takeaways
- People-generated energy to power events
- Hybrid events remain popular post-COVID-19
- The use of influencers
- People-generated energy to power events
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Who’s Innovating?
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- People-generated energy in nightclubs and live shows
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- Figure 24: Attendees of Coldplay’s most recent tour powering elements of the show through riding stationary bikes, 2022
- Hybrid events remain post-COVID-19
- Figure 25: “To what extent are you worried about how the outbreak might affect your lifestyle?”, IoI, 2022
- The use of influencers
- Figure 26: Consumer attitudes towards social media influencers, NI and RoI, 2021
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The Consumer – Key Takeaways
- Half of IoI consumers have not attended an event in the last two years
- Interest in events held in local community
- Consumers want better quality to justify paying higher ticket prices
- Half of IoI consumers have not attended an event in the last two years
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Events Attended in NI/RoI
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- Half of IoI consumers have not attended an event in the last two years
- Figure 27: Types of music events attended in NI or RoI in the last two years, NI and RoI, 2022
- Figure 28: Types of non-music events attended in NI or RoI in the last two years, NI and RoI, 2022
- Consumers in employment are more likely to attend events
- Figure 29: Types of music events attended in NI and RoI in the last two years, by working status, NI and RoI, 2022
- Figure 30: Types of non-music events attended in NI and RoI in the last two years, by working status, NI and RoI, 2022
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- Figure 31: Consumers who have attended a live music event/concert as an evening activity or as part of a night out, by working status, NI and RoI, 2022
- Younger consumers are more likely to attend an event
- Figure 32: Types of events attended in NI and RoI in the last two years, by age, NI and RoI, 2022
- Figure 33: Types of non-music events in NI and RoI attended in the last two years, by age, NI and RoI, 2022
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- Figure 34: Consumers who spent more on leisure/entertainment compared to before the COVID-19 outbreak, by age, NI and RoI, 2022
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- Figure 35: “To what extent are you worried about how the COVID-19 outbreak might affect your lifestyle?’ – NET, by age, NI and RoI, 2022
- Men are more likely to go to sporting events
- Figure 36: Consumers who have attended a sporting event in NI or RoI in the last two years, by gender, NI and RoI, 2022
- Figure 37: Consumers who have watched live sport as an evening activity or as part of a night out, by gender, NI and RoI, 2022
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Factors that Encourage Event Attendance
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- Consumer demand for events in local area
- Figure 38: Factors that would encourage consumers to attend more events, NI and RoI, 2022
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- Figure 39: Selected key factors driving consumer behaviour around identity and surroundings – IoI, 2022
- Older consumers seek convenience factors to attend
- Figure 40: Selected factors that would encourage consumers to attend more events, by age, NI and RoI, 2022
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- Figure 41: Consumers who have visited their most frequented shopping location because it is in close proximity to their home, by age, NI and RoI, 2022
- Full-time workers want more convenient event dates and times
- Figure 42: Consumers who would be encouraged to attend more events with convenient times/dates, by working status, NI and RoI, 2022
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- Figure 43: Selected consumer behaviours towards the working life, NI and RoI, 2022
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Consumer Attitudes towards Events
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- Demand for better facilities at events
- Figure 44: Consumer attitudes towards events, NI and RoI, 2022
- Younger consumers want to see more philanthropic and ethical efforts from companies/brands
- Figure 45: Consumers’ attitudes towards events being more philanthropic and ethical, by age, NI and RoI, 2022
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- Figure 46: Selected key factors driving consumer behaviour around rights and surroundings, by age, IoI, 2022
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Appendix – Data Sources, Abbreviations and Supporting Information
- Data sources
- Abbreviations
- Data sources
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