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After a tumultuous 2025, this should come as no surprise for global exhibitions industry leaders.

McKinsey & Company recently identified political and geopolitical uncertainty as a top risk for executives, which will require a proactive and engaged response going forward.

Within the global exhibitions industry, organisers, destinations, venues, and suppliers can no longer wait for the fog to clear. The time to prepare for a more contested world is now.

What follows are considerations for effectively managing political risk in the year ahead.

Defining and categorising political risks There are four categories of political risk that impact the exhibitions industry:

Geopolitical risks When relations between countries deteriorate, strategic interests collide, or the global political order is in flux – disrupting travel, trade flows, market access, and international collaboration. Example: Russia’ s invasion of Ukraine

Country-level risks Instability or significant change within a country’ s political, governmental, or institutional environment that materially affects organisations operating or investing in that market. Example: Brexit

Policy and regulatory risks When governments at the international, national, or local level enact, revise, or enforce laws, regulations, or policies that alter the commercial operating environment. Example: Recent US policy changes

Societal risks Public sentiment, activism, or social movements – such as protests, boycotts, or reputational campaigns – that influence behaviour, perceptions, participation, or market viability. Example:‘ Flight shaming’ campaigns

“ The time to prepare for a more contested world is now”

Not all political risks are created equal, nor are their impacts. That’ s why the potential short-term, mediumterm, and long-term consequences of risks across all four categories should be explored.

Moreover, these may look different for different industry stakeholders.

For example, many within the industry view climate change as a longer-term risk. That said, for stakeholders in sub-Saharan Africa, where a rare drought impacted hydropower generation last year, the impact was more immediate and caused daily severe power outages at many venues.

Of course, not all political risks can be identified. Rather than fixate on“ black swan” risks, or unpredictable high-impact events like Covid-19, exhibition industry leaders should focus their attention on“ grey rhinos,” or high-impact risks with a significant likelihood of occurring. For 2026, these include ongoing trade tensions, international travel challenges, and rising populism.

44 Issue 1 2026

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