UFI, the Global Association of the Exhibition Industry, has released the latest 32nd edition of its flagship Global Exhibition Barometer research which takes the pulse of the industry.
The results highlight that in most markets around the world, the exhibition industry fully recovered from the pandemic slump in 2023, with revenues reaching a comparable level to 2019, on average. The outlook for 2024 is very positive, with revenues expected to grow by an average of 15%, setting the industry up to record the highest-ever revenue levels in 2024. Globally, 52% of companies declare that they plan to increase their workforce in the coming 6 months, and 45% declare that they will keep current staff numbers stable. “State of the economy in the home market” is the most pressing issue (22% of answers globally), followed by “Global economic developments” (17% of answers).
Size and scope
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 study also includes outlooks and analysis for 19 focus countries and regions – Argentina, Australia, Brazil, China, Colombia, France, Germany, Greece, India, Italy, Malaysia, Mexico, Saudi Arabia, South Africa, Spain, Thailand, the UAE, the UK, and the USA – as well as five additional aggregated regional zones.
Operations
The level of operations has clearly picked up in the second half of 2023, with a large majority of companies from all regions (77% in the Middle East and Africa to 57% in North America) declaring an increase.
This trend will continue in 2024 with, on average, a percentage of companies reporting an increased activity ranging from 66% in North America to 64% in the Middle East and Africa, 55% in Asia/Pacific and 54% in Central and South America and Europe respectively.
Turnover and operating profits
The year 2023 witnessed the full recovery of exhibitions, with revenues reaching a comparable level to 2019, on average. The outlook is very positive, with 2024 revenues expected to grow by an average of 15%.
These general trends vary from one country to another:
• Revenues from 2023 compared to 2019 vary from 127% in India, 120% in Spain, and 110% in Italy, to 88% in Colombia and 85% in South Africa, or to 82% in Germany and 80% in Thailand
• Revenues from 2024 compared to 2019 vary from 154% in India 151% in Greece to 99% in China and 94% 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% 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%.
The highest proportion of companies expecting a profit increase of more than 10% when compared to 2019 are in the UAE (91%), Saudi Arabia (80%), India (71%), Brazil (67%), and Mexico (64%).
Workforce development
Globally, 52% of companies declare that they plan to increase their staff numbers in the coming 6 months, and 45% declare that they will keep current staff numbers stable.
The highest proportion of companies planning to add staff are identified in Saudi Arabia (100%), the UAE (82%), India (80%), Greece (73%) and Malaysia (67%).
Read the full UFI Global Barometer below or read more on their website.
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