From Disruption to Sustainability: The Event Industry’s Journey through the COVID-19 Pandemic

Abstract

The COVID-19 pandemic has led to significant transformations in industries globally, particularly those heavily reliant on human interaction, such as the event industry. However, the effects of COVID-19 on the event industry have not been thoroughly explored in previous studies. This study utilizes secondary data from the Korean Statistical Information Service, covering 16 cities and regions from 2018 to 2022, to analyze the effects of COVID-19 on the event industry and how the pandemic has reshaped the sector’s landscape and sustainability. We employed a Regression Discontinuity Design (RDD) model to assess the causal impact and utilized Garthwaite’s (2014) Dynamic Discontinuity model to explore the dynamic effects over time. The results demonstrate that, initially, COVID-19 had a considerable disruptive influence on the event industry, severely affecting face-to-face interactions and operations. However, our findings reveal significant signs of adaptation and recovery in the industry by 2022, with the initial negative impacts no longer evident. This study highlights the event industry’s resilience, the progressive nature of its post-pandemic recovery, and its path toward sustainable practices in a post-pandemic era.