The **event organization** industry is a service industry that has a very significant impact on other economic and social activities. In Vietnam, the event organization industry is undergoing a transformation as event organization companies are appearing more and more frequently, especially in major cities. So, let's explore the current state of the event organization industry in Vietnam with the most authentic and objective perspective!

Transformations in the Event Organization Industry

If previously the event organization industry was quite obscure in Vietnam, and organizations and businesses had not yet focused on promoting and developing organizational culture through event organization activities, then in the last 5 years, the event organization industry in Vietnam has seen more positive developments, and customers have started to pay more attention to this field in modern economic and social life.

In developed countries, event organization is a professional, well-structured service industry with large teams capable of meeting the needs of all events. However, in Vietnam, weak potential is one of the reasons why the event organization industry is difficult to access and develop.

However, currently, the Vietnamese event organization industry has undergone positive transformations, with changes in operational forms and supply capabilities reaching a much better level, thereby contributing to the development of other economic and social activities.

Furthermore, due to the development of the economy, especially the increasingly advanced, popular, and specialized science, technology, and engineering, businesses' awareness of enhancing the value of events for their companies has been impacted. Event activities increasingly demand higher quality, creativity, and scale.

Not only large events for businesses and organizations, but also individual events such as weddings, birthdays, anniversaries, etc., for families and individuals are increasingly developing. As the quality of life improves, the demand for many people to enhance their spiritual life through event organization activities will also increase. A series of event organization companies and units are springing up like mushrooms to meet the strong market demand.

According to 2020 statistics, the market share for event and conference organization in Ho Chi Minh City reached 1900 billion VND, spread across high-end to mid-range hotels, banquet centers, and conference venues, and this number is predicted to continue to increase.

Currently, the impact of the Covid-19 pandemic has greatly affected the event organization industry. However, this is a good time for event organization companies to create new transformations in their operations, business strategies, and market positioning.

The Event Organization Industry is Growing in Quantity but Lacking in Quality

Besides long-standing, professional event organization companies in the industry, there are quite a few small, fragmented, and unprofessional event organization units in Vietnam.

To quickly adapt to the strong market, a series of event organization companies and units have emerged in small, fragmented forms, lacking potential and primarily operating through cooperation, networking, or subcontracting from multiple units to provide for events. This leads to increased event organization costs while quality is not guaranteed due to a lack of consistency.

Also, due to the diverse nature of the event organization industry, requiring significant resources in machinery, equipment, materials, personnel, as well as high technical expertise, not every unit can fully meet these demands. Currently, a segment of units in the event organization industry primarily operates as intermediaries, lacking proactivity in service provision.

The event organization industry is truly a sector with rich development potential in the future as science and technology continue to advance and the quality of human life becomes higher. Vietnam is in a breakthrough phase to make event organization a professional service industry, meeting the development of economic and social life.

To achieve this, event organization businesses need to make appropriate investments to stimulate development, promote growth, enhance service quality, and continuously innovate and adapt to meet customer needs and preferences.

Above is the current state of the event organization industry in Vietnam for your reference. We hope that the insights from ECOMCX will help you better understand the event organization industry in Vietnam today.