A snapshot survey of the exhibition industry has shown continued
recovery following the pandemic slump, with sales across the board expected to grow
by another 15 per cent in 2024.
On average, revenues were now comparable with 2019 levels,
according to the 32nd edition of UFI’s flagship Global Exhibition
Barometer, but there were some sharp regional variations.
Across Europe as a whole, sales for 2024 were standing at
126 per cent against 2019 compared to the world average of 115 per cent,
however some countries were performing better than others.
While Greece was looking at a 151 per cent increase on 2019
levels this year, Germany was only on target to match pre-pandemic levels, having
only achieved 82 per cent of 2019 levels in 2023.
Elsewhere revenues from 2023 compared to 2019 vary from 127
per cent in India, 120 per cent in Spain, and 110 per cent in Italy, and 85 per
cent in South Africa to 82 per cent and 80 per cent in Thailand. Revenues from
2024 vary from 154 per cent in India to 94 per cent in South Africa.
In terms of operating profits compared to 2019 levels,
around half of the companies are declaring an increase of more than 10 per cent
for 2023, and one in four a stable one. Compared to 2022, six companies out of
ten are declaring an increase of more than 10 per cent.
Globally, 52 per cent of companies declare that they plan to
increase their workforce in the coming 6 months, and 45 per cent declare that
they will keep current staff numbers stable.
Meanwhile there is an overwhelming consensus that artificial
intelligence (AI) will affect the industry, with 91 per cent of companies
stating this, up from 87 per cent in the previous edition.
The areas expected to be most affected by AI are: sales, marketing
and customer relations and research & development (both 80%) and event
production (65%).
Kai Hattendorf, MD and CEO at UFI, said: “Our report shows
that the exhibition industry hasn’t just reached pre-pandemic levels in 2023
but is also planning to grow in 2024 and many new jobs in exhibitions are
coming up around the world. This good news comes in parallel with shifts of
business priorities, where economic and environmental considerations show
significant progression.”
This latest edition of UFI’s bi-annual industry survey was
concluded in January 2024, and includes data from 419 companies in 61 countries
and regions. The full results can be downloaded here.
Written By
James Lancaster
AMI editor James
Lancaster is a familiar face in the meetings industry and international
association community. Since joining AMI in 2010, he has gained a reputation
for asking difficult questions and getting lost in convention centres. Proofer, podcaster, and panellist - in his spare time, James likes to walk,
read, listen to music, and drink beer.
