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

Author

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  • Dong-Suk Chun

    (Department of International Trade, College of Social Sciences, Konkuk University, Seoul 05029, Republic of Korea)

  • Keeyeon Ki-cheon Park

    (College of Education, Kongju National University, Gongju 32588, Republic of Korea)

  • Jong-Min Kim

    (Department of International Trade, College of Social Sciences, Konkuk University, Seoul 05029, Republic of Korea)

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.

Suggested Citation

  • Dong-Suk Chun & Keeyeon Ki-cheon Park & Jong-Min Kim, 2024. "From Disruption to Sustainability: The Event Industry’s Journey through the COVID-19 Pandemic," Sustainability, MDPI, vol. 16(14), pages 1-15, July.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:14:p:6013-:d:1434937
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    References listed on IDEAS

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    1. Klaas Vries & Abdul Erumban & Bart Ark, 2021. "Productivity and the pandemic: short-term disruptions and long-term implications," International Economics and Economic Policy, Springer, vol. 18(3), pages 541-570, July.
    2. Bianchi, Francesco & Bianchi, Giada & Song, Dongho, 2023. "The long-term impact of the COVID-19 unemployment shock on life expectancy and mortality rates," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
    3. Bart van Ark & Klaas de Vries & Abdul Erumban, 2021. "Productivity and the Pandemic - Short-Term Disruptions and Long-Term Implications. The impact of the COVID-19 pandemic on productivity dynamics by industry," Working Papers 007, The Productivity Institute.
    4. Alicia Girón & Eugenia Correa, 2021. "Fiscal Stimulus, Fiscal Policies, and Financial Instability," Journal of Economic Issues, Taylor & Francis Journals, vol. 55(2), pages 552-558, April.
    5. Chong, James & Phillips, G. Michael, 2022. "COVID-19 Losses to the Real Estate Market: An Equity Analysis," Finance Research Letters, Elsevier, vol. 45(C).
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