This
year will be a ‘record year’ for exhibitions, according to the industry body.
UFI, the Global Association of the Exhibition Industry, has released
the 33rd edition of its bi-annual Global Exhibition
Barometer, which surveys hundreds of exhibition-related companies.
And the results show exhibition organisers, venues and
suppliers achieving record revenues in 2024 - moving past the ‘post-pandemic recovery
stage’ that was achieved
at the end of 2023.
While the health of domestic markets continues to be a concern, revenues
for last year and this are expected to grow by 20 per cent and 17 per cent year
on year, respectively.
However, in a sign the charge could be slowing, the number of
companies expecting to make an operating profit of 10 per cent or more looks
set to shrink by 14 per cent from 2023 to 2024.
Globally, 48
per cent of companies declare that they plan to increase
their workforce in the coming
6 months, while another 48 per
cent say that they will keep staff numbers stable.
“State of the economy in home market”
is the most pressing issue (22% of answers globally), followed by “Global economic developments” (15% of answers).
There is consensus
that AI will affect the industry, with 90
per cent of companies stating this, and
a growing share of businesses reporting that they actively use this new
technology.
Interestingly sustainability appears to have fallen dramatically as a pressing issue globally, even in the UAE, hosts of last year's COP28, where it has fallen from 17% to 4%.
“This edition of UFI’s flagship
Barometer research confirms
our early data from January
that 2024 will be a record
year for industry
revenues globally. This edition shows how this growth translates into new jobs in our
sector as well as in expansion plans from the majority of businesses – aiming
both at new business activities as well as new geographies. Against a complex
global backdrop, the global exhibition industry is bullish about its short and
mid-term prospects”, comments Kai Hattendorf, managing director and CEO at UFI.
Revenues broken down:
- Revenues from 2023 compared to
2022 vary from 143% in Malaysia, 139% in Thailand, 132% in Argentina and the
USA, to 105% in Spain, 103% in Brazil and 101% in Australia.
- Revenues from 2024 compared
to 2023 vary from 148% in Colombia,
138% in Brazil,
123% in the UAE, to 106% in Germany, 105% in China and 98% in France.
In terms of
operating profits for 2023, 61 per cent of the companies declare
an annual increase of more
than 10%, and 27% declare a stable one. The same total of 88% applies to 2024 operating profits, with 47%
planning an annual increase of more than 10 per cent and 39% a stable one.
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.
