GAP store launch in Bahrain
Fourth quarter success for events firm
Manama, February 22, 2012
After a challenging first three quarters, Bahrain's event management and communications agency Eventscom celebrated a successful fourth quarter of 2011, surmounting the difficulties posed by an industry most affected by both the financial crisis and the local unrest, the company said.
The company was involved in some of the GCC’s most high-profile events in sectors ranging from technology to healthcare; and from consumer goods to the public sector, it said.
“During tough economic times, the events and marketing sectors tend to be among the hardest hit and 2011 was no exception. Corporations drastically cut spending in events and entertainment, and sponsorship and advertising budgets nose-dived. Our client projects declined by at least 50 per cent in the first three quarters of 2011, compared with the same period in 2010, which has set back our growth and expansion as a local company,” said Thamer Al Muqla, Eventscom chairman.
“However, in the last quarter, we saw an upward trend in spending as companies in Bahrain made an effort to overcome any setbacks earlier in the year and ensure that planned projects materialized before closing out FY 2011. This momentum has continued, reinvigorating Bahrain’s economy, and we are seeing foreign investment return in the MICE market, signalling confidence in Bahrain as an optimal destination for regional and international events,” he added.
“The Eventscom Board has restructured the company under the umbrella of the parent group --Gulf Marcom Group (GMG) -- with a new professional team, new management, and a new business strategy. Eventscom will be announcing a series of exciting ventures and initiatives shortly,” Al Muqla said.
Eventscom business development and project director Savio Samanna D’souza added: “We had a fantastic end to a difficult year, showing much promise and optimism for 2012. This has been a welcome boost to both the kingdom’s economy and the companies working here.”
Eventscom was founded 10 years ago as a full-service event management and communications agency. The agency enjoys extensive global reach with a network spanning the Pan Arab region, Australia, and the Far East, while offering first-rate communications, public relations and event management expertise and insight. – TradeArabia News Service