Populous senior adviser Geraint John, told audiences at Event Wales that the country needs a modern arena to compete with international destinations.
"Many of the recent projects in Wales- like the national stadium in Cardiff- have been a resounding success. The country has what it takes, but it lacks an arena of the modern style for major events. We always aim to make our venues multi-purpose, flexible and high quality," he said.
However, Gwynedd Council corporate director Iwan Trefor Thomas said that Wales still needs to do a lot of work to train its workforce to meet the event industry's needs.
"We have a big problem in Gwynedd with our educated young people leaving the town because of a lack of opportunities. The event industry needs to be embraced in Wales to counter this problem and improve our SME market," he added.