“Eventonomics” is no longer just a side dish at a dinner party. It has evolved into a main course that must surprise the taste buds of consumers with abstract tastes and preferences.

The old perspective viewed events as a backburner activity, but the current generation should treat it as the backbone of the economy. This notion is not without significance, and will soon become both a challenge and an opportunity for the times.

Data from the economic growth reports published by Statistics Indonesia (BPS) shows a paradox in the contribution and growth of GDP by industry in the second quarter of 2024. The paradox was evident in the manufacturing sector’s large contribution at 18.52 percent, but only 3.95 percent year-on-year (yoy) growth.

The downstream impact of the mining sector was also questionable, with a contribution of 8.78 percent but only 3.17 percent growth. How disheartening was this for this capital-intensive sector?

In contrast, the transportation and warehousing sector had a contribution distribution of 6.24 percent but grew 9.56 percent yoy, while the accommodation and food and beverage (F&B) sector, despite only contributing 2.64 percent, showed an impressive growth rate of 10.17 percent.

Other service sectors also need attention, as they showed only a 2.04 percent contribution but remarkable growth at 8.85 percent. It seems that the MICE (meetings, incentives, conferences and exhibitions), multisport and red-hot industries have grown “somewhat differently” and require continued acceleration.

According to a 2023 report from the Events Industry Council, the total impact of global business sales amounted to US$1.2 trillion, contributing $663 billion and creating 10.9 million jobs from activities in 180 countries, with 1.6 billion people engaged in business events.