The exhibition industry is set for continued revenue growth
in 2024 and 2025, despite economic and geopolitical challenges, according to
the latest Global Exhibition Barometer report from UFI, The Global Association
of the Exhibition Industry.
The report projects a 16 per cent year-on-year increase in
revenues for 2024, with a further 18 per cent rise anticipated in 2025 – but some
key markets remain below pre-pandemic levels.
“UFI’s Barometer research has provided like-for-like
benchmarking on key metrics for 18 years, and this new edition shows positive
indicators for the year ahead across all markets, which is heartening to see.
However, at the same time, it shows some uncertainty around economic
environments and geopolitical challenges, demonstrating we operate in an
ever-changing world,” comments Chris Skeith, managing director and CEO at UFI.
Industry expansion is also evident in workforce trends, with
46 per cent of companies planning to expand their staff in the next six months,
while 51 per cent expect to maintain current employment levels.
The strongest hiring intentions are seen in Saudi Arabia
(100%), the UAE (86%), Malaysia (62%), and the UK (60%).
Regional variations in growth
The report, based on data from 390 companies across 56
countries, reveals significant regional disparities. While global exhibition
space rented in 2024 shows a 9% increase over 2019 levels, Germany (-12%) and
China (-8%) remain below pre-pandemic levels. In contrast, India (+40%),
Argentina (+34%), Malaysia (+22%), and Brazil (+18%) are leading growth.
Revenue growth is also uneven. Argentina saw the most
significant increase in 2024 at +49%, followed by Thailand (+30%), Mexico
(+24%), Brazil (+23%), and Spain (+21%). In 2025, Argentina is again projected
to lead with a 39% rise, alongside the UK (+37%), Italy (+34%), Greece (+25%),
and Colombia (+23%).
Operating profits are also on the rise, with 82% of
companies reporting an annual increase exceeding 10% in 2024. For 2025, 77% of
businesses anticipate similar growth, though 14% foresee a decline or losses.
Economic and geopolitical concerns
The state of the economy remains the top short-term concern
for 23% of respondents, particularly in domestic markets. Geopolitical
instability (16%) and global economic conditions (15%) also rank as significant
challenges.
Economic developments emerge as the top mid-term concern
(20%), while sustainability and climate issues rise in importance (15%), tying
with geopolitical challenges.
AI integration accelerates
The adoption of artificial intelligence is transforming the
exhibition sector, with 92 per cent of companies acknowledging its impact. AI
is increasingly used in sales, marketing, and customer relations, where
adoption has grown by 15 per cent in six months, reaching 54 per cent. It’s use
in research and development has increased by 11 per cent, now at 49 per cent.
Other business functions experiencing AI-driven changes
include event production (62%), human resources (57%), and finance and risk
management (54%).
Industry outlook
While the exhibition industry continues to expand, economic
uncertainty and geopolitical risks remain key factors shaping its future. The
increasing role of AI and sustainability concerns will likely influence
long-term strategies as businesses navigate evolving market conditions.
