Research
Why size alone is no longer enough: Rethinking exhibition market rankings
Specialist industry consultancy jwc shares an in-depth analysis of its recent GIPR ground-breaking research, which goes beyond size to offer a new country-level ranking paradigm of measurement and pointer to where opportunity lies
he exhibition industry
T has long relied on a simple logic: bigger markets are better markets. Scale, measured in net rented space, number of exhibitions or venue capacity, has served as the primary benchmark for comparing countries. It remains an intuitive and, to a degree, valid proxy. Large markets tend to benefit from established demand, institutional stability and developed infrastructure. As the industry moves beyond the postpandemic recovery phase, that logic is becoming insufficient.
Growth is stabilising. Expansion is becoming more selective. Structural differences between markets are becoming more visible. In this context, size alone no longer explains where opportunity lies.
That is the starting point for a new country-level ranking introduced in the latest edition of jwc’ s Global Industry Performance Review( GIPR). The objective is not to replace existing metrics, but to move beyond them by providing a more decisionoriented view of market attractiveness. Here is an exclusive deep-dive into the making and meaning of this new approach.
From recovery to structural comparison The past three years have been defined by recovery. Following the disruption of the pandemic, exhibition activity rebounded strongly through 2023 / 2024. Revenues recovered quickly, in many cases exceeding pre-2019 levels. Net rented space followed more unevenly, with a smaller group of markets returning to previous volume levels.
This divergence between value and volume marked a turning point.
Revenue growth has been supported by higher pricing, changes in exhibitor mix and an increasing contribution from services. At the same time, physical expansion has remained constrained in many established markets. As a result, the industry is entering a more comparative phase.
With growth moderating and capacity expansion limited, differences in pricing, portfolio structure and operating conditions are becoming more relevant. Performance is no longer driven primarily by recovery dynamics; instead, structural factors play a bigger role.
This shift raises a more fundamental question: how should exhibition markets be compared in a more mature, more differentiated global landscape?
The limits of scale Traditional rankings offer a clear answer: compare size. Total exhibition space, number of events, and venue capacity remain widely used indicators. They should technically be relatively easy to measure to provide a consistent basis for comparison. However, they capture only one dimension of market attractiveness.
Large markets often combine scale with institutional maturity. They can be characterised by high levels of competition, capacity constraints or slower growth. Smaller can offer more accessible competitive environments or stronger growth trajectories. These structural differences are not visible in single-metric rankings.
As a result, scale has become an incomplete proxy for opportunity.
A multidimensional approach To address this gap, jwc now introduces a framework that evaluates exhibition markets across five structural dimensions: market size and growth outlook, competitive opportunity, the availability of venue capacity,
34 Issue 2 2026 www. exhibitionworld. co. uk