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According to a new report published by Allied Market Research, titled, “Corporate Luxury Events Market by Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030” The global corporate luxury events market size was valued at $152,508.6 million in 2020, and is projected to reach $526,165.5 million by 2030, registering a CAGR of 14.5% from 2021 to 2030.A company hosts a corporate luxury event with the goal of providing entertainment and refreshment with a high level of elegance and grandeur. Business owners eventually support activities such as corporate luxury events to engage and improve connections with their workers, clients, business partners, and stakeholders. Award ceremonies, gala dinners, conferences, business expos, and outdoor retreats are just a few examples of luxurious activities available at corporate luxury events. Gatherings are often used to raise donations for a great cause to celebrate a milestone and express gratitude toward participants for their hard work. It allows users to socialize with individuals from similar backgrounds or professions and build or maintain business relations.

Corporate events are becoming more popular as every other company wants to arrange one for its employees, clients, vendors, and stakeholders. Firms have increasingly sought to organize luxury events to get market visibility, attract audience attention, and other firms to invest, cooperate, or create a relationship. The event’s brand positioning and media coverage are two variables that help to promote an event and boost the number of participants. Marketing, promotion, and rise in popularity of corporate luxury events are encouraging additional companies to sponsor events to get market visibility and increase growth rate of a company. Sponsorships encourage event management firms to provide more elegance and grandeur to their corporate events. As a result, sponsorships have become essential components of organizing luxury events, which is providing the corporate luxury events market opportunities for growth.

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Virtual events are digitally modeled meetings and conferences that employ internet platforms to enable participants to digitally share information, discuss, and resolve issues. The outbreak of the COVID-19 pandemic has compelled authorities to limit outside mobility of population. Virtual events are a novel concept as they do not require a real site to be heldand reduces the financial load on attendees, owing to low rates. The benefits of virtual events, such as cheap cost of investments, high-value proposition, additional after-service support, and enhanced analytics, entice corporate firms to choose virtual events over actual luxury events. As a result, rise in virtual events is limiting expansion of the corporate luxury events sector.

Corporate events such as conventions, conferences, seminars, and trade shows involve a lot of conversation about companies, goods, ideas, and strategies. These kinds of events, in general, fail to hold attention of participants throughout the course, resulting in low productivity, participation, and efforts. The host firms have engaged event management providers to incorporate additional activities that would aid in participant retention and make events more entertaining. As a result, event organizers are including interactive activities in their events to boost audience engagement and productivity. Activities such as quiz games, team building games, and other art activities perform well as they serve to alleviate discomfort and boredom while also increasing participant attention during the session. The inclusion of interactive activities in corporate events is predicted to boost the corporate luxury events market growth.

The corporate luxury events market is segmented into type, end user, and region. On the basis of type, the market is categorized into gala dinner/award event, business expo, party & outdoor retreat, and conference. On the basis of end user, it is divided into banking & financial sector, information technology sector, real estate & infrastructure sector, automotive sector, pharmaceutical sector, and others. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, the United Arab Emirates, South Africa, and rest of LAMEA).

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Key Findings Of The Study

• According to corporate luxury events market trends, on the basis of type, the party & outdoor retreat segment is projected to witness the highest CAGR of 16.1%, in revenue terms, during the forecast period.
• On the basis of end user, the pharmaceutical sector segment is expected to grow at a significant CAGR during the corporate luxury events market forecast period.
• According to corporate luxury events market analysis, on the basis of region, the U.S. was the largest country, in terms of revenue generation for corporate luxury events industry in 2020.
• On the basis of region, Asia-Pacific is anticipated to witness highest growth rate, registering a CAGR of 16.7% from 2021 to 2030.

The players operating in the global corporate luxury events market have adopted various developmental strategies to expand their corporate luxury events market share, increase profitability, and remain competitive in the market. The key players profiled in this report include 360 Destination Group, LLC, A Perfect Event By Carmen Company., Access Destination Services, LLC., Basset Events, Inc., BCD Group, LLC., Colin Cowie lifestyle, LLC., Creative Group, Inc., CWT Global B.V., Eventbrite, Inc., and Rafanelli Events Management, Inc. The other market players are Clarion Events, LLC., Capita PLC., Questex LLC., Anschutz Entertainment Group., The Freeman Company LLC., Live Nation Worldwide., Penguins Event, Inc., C2 International, Inc., Mass Event + Design, LLC., BI Worldwide., LLC., Big rock production, LLC., and Cvent, Inc.

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Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

According to a new report published by Allied Market Research, titled, “Enotourism Market by Tour Type, Traveler Type, and Age Group: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global enotourism market size was valued at $8,653.4 million in 2020, and is projected to reach $29,593.4 million by 2030, registering a CAGR of 13.6% from 2021 to 2030.

The rise in disposable income, increase in number of wines producing regions across the globe and technological advancements is expected to drive the growth of the global enotourism market.

Enotourism is becoming extremely important for wine producers. According to a recent Silicon Valley Bank survey, 60% of American wineries sales are direct-to-consumer (DTC). Wine is increasingly being sold directly to consumers, as well as to wine drinkers in distant locations. The surge in popularity of wine among all age groups, from the young to the elderly, is a key driver for the market growth globally.

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Wine is an essential component of European cultures, and this cultural trend is spreading across the globe, including Asian countries. Wine is being consumed by young and working-class people, as well as at house parties and on rare occasions. As a result, people are tending towards traveling to wineries to explore wide range of wines. These consumer changes are expected to drive the enotourism market growth of the enotourism market throughout the forecast period. All these factors are enotourism market trends.

According to enotourism market analysis, the enotourism market is segmented on the basis of tour type, traveler type, age group, and region. On the basis of tour type, the enotourism market is categorized as private guided tours and self-guided tours. As per traveler type, the market is divided into solo and group. By age group, the market is classified into generation X, generation Y, and generation Z. Region-wise, the enotourism market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

By tour type, the private guided tours segment was the highest revenue contributor in 2020, as the guide provides proper guidance on location and different types of wines. By traveler type, the group segment held the largest enotourism market share. The group helps to explore new locations by providing accurate information on vineyards. On the basis of age group, the generation Y segment garnered the highest market share according to enotourism market forecast, as this generation of people are more interested in exploring and experiencing different things.

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There is a higher demand for various types of wines across the globe with an increase in the number of wine-consuming people. The enotourists are keen to discover new wines and winery locations. Thus, there is an increase in the number of tourists over time. This has resulted in increased revenue for market.

The global enotourism market is primarily driven by an increase in the number of people who drink wine and see it as a kind of social recognition. Wine is primarily consumed by certain segments of the population because wine is not affordable. Furthermore, rise in government rules and regulations, as well as the imposition of taxes, are impeding the expansion of the global market.

COVID-19 has the potential to have three effects on the global economy which has direct impact on the production and demand, disrupting supply chains and markets, and having a financial impact on businesses and financial markets. The COVID-19 outbreak had a significant impact, resulting in flight cancellations, travel bans and quarantines, restaurant closures, and a ban on all events across forty countries. As a result, the volatility of the market has dropped significantly, resulting in a decline in business, an increase in panic among people, and uncertainty about the future. Hence, the overall impact of COVID-19 on enotourism market was negative.

Increase in the wine consumption of consumers has been a major driver for the market. According to a data by the European Association of Wine Economists, wine consumption increased significantly during the confinement phase caused by the coronavirus outbreak in Spain and the rest of Europe in May 2020. Thus, the demand for wine decreased significantly during the COVID-19 pandemic.

Innovative services provided by enotourism companies, such as winery rides and music festivals at vineyards, are expected to increase public interest in enotourism, resulting in lucrative enotourism market opportunities. The preferred form of booking for tourism is online, and rise in internet and smartphone usage across the globe is expected to boost online bookings throughout the forecast period.

Key Players:

The key players in the global enotourism industry include 290 Wine Shuttle, A Great Oregon Wine Tour, Arblaster and Clarke Wine Tours, Bulgaria Wine Tours, Burdick Vineyard Tours, California Wine Tours, Cloud Climbers Jeep and Wine Tours, Discover Texas Wine Tours, Grape Escapes Wine Tours, and Iowa Wine Tours Inc. These companies are introducing new products and collaborating with other industry leaders to develop and deliver new products that meet increasing expectations and aspirations of their customers. Leading industry players and government agencies are also working to raise consumer awareness.

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Key Findings of the Study

• The global enotourism market was valued at $8,653.4 million in 2020, and is projected to reach $29,593.4 million by 2030, registering a CAGR of 13.6% from 2021 to 2030.
• By region, Europe was the highest revenue contributor, accounting for $3,219.1 million in 2020, and is estimated to reach $11,719.0 million by 2030, with a CAGR of 14.4%.
• By tour type, the private guided tours segment was the highest contributor to the market, with $6,129.3 million in 2020, and is estimated to reach $20,865.7 million by 2030, at a CAGR of 13.6% during the forecast period.
• By traveler type, the group segment was the highest contributor to the market, with $7,080.5 million in 2020, and is estimated to reach $24,135.8 million by 2030, at a CAGR of 13.6% during the forecast period.
• By age group, the generation y segment was the highest contributor to the market, with $4,675.7 million in 2020, and is estimated to reach $17,189.7 million by 2030, at a CAGR of 14.5% during the forecast period.

Contact Us:

David Correa
5933 NE Win Sivers Drive

205, Portland, OR 97220

United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.