JSFiddle - React, Tailwind, and code Playground

HTML

<script src="https://cdnjs.cloudflare.com/ajax/libs/handlebars.js/3.0.1/handlebars.min.js"></script>
<script type="text/x-handlebars-template" id="temp">
    {{{event}}}
</script>

<div id="content"></div>

JavaScript

var context = {
    "event":"This is event <i>XYZ</i>"
};

var htmlStr  = $("#temp").html();
var compiledTemplate = Handlebars.compile(htmlStr);

var output = compiledTemplate(context);

$("#content").html(output);