The 12th edition of Globex – the global exhibition organising market: assessment and outlook to 2022 – released today by AMR International, details the devastating impact of COVID-19 on 2020 and looks ahead at the likely fallout of the crisis over the coming years.
Highlights: COVID impact assessment on 2020
The primary driver of revenue loss in 2020 is reduced volume sales. In many major markets, this has led to more than a 90% reduction in NSM sold in Q2 and Q3.
Weakened NSM pricing has also driven revenue loss. Across all markets, AMR anticipates no price hikes with organisers offering discounts and incentives to exhibitors. Overall Globex projects pricing will be depressed by -3% in 2020.
Whilst all exhibition markets will suffer a major hit in 2020 as a result of COVID-19, the decline will vary between markets. The least negatively impacted market is likely to be China, with 2020 exhibitions revenues 50% down compared to 2019, whereas the most negatively impacted are forecast to be Vietnam and Singapore (94% and 93% down from 2019 respectively)
Highlights – Projection to 2022
Although each country will respond to the pandemic differently, Globex has identified markets that are expected to exhibit broadly similar recovery trajectories:
– China is expected to rebound the most reaching 86% of its relative 2019 size by 2022
– UK, US and Mexican exhibition markets are projected to rebound to c.80% of their 2019 size by 2022
– AMR expects Germany will rebound to 79% of its 2019 size by 2022