EW Issue 2 April - May 2026 | Page 37

Research
a structural reality: high growth potential does not necessarily coincide with fully developed infrastructure or ecosystem maturity.
Competitive opportunity: accessibility over scale The competition-driven ranking produces a different picture. Here China leads, followed by Bahrain and Kuwait. The presence of smaller Gulf markets reflects relatively open competitive structures that facilitate market entry. This points to a different form of attractiveness: markets do not need to be large to offer opportunity. In some cases, lower levels of concentration combined with more accessible competitive dynamics can create favourable conditions for new entrants. In this sense, competitive openness can offset limitations in scale.
Ecosystem quality: the efficiency premium The ecosystem-driven ranking highlights a third dimension. Singapore ranks first, followed by Spain and Germany. These markets are characterised by strong infrastructure, high levels of connectivity and efficient administrative frameworks. They represent what can be described as an“ efficiency premium”.
Even with more limited domestic scale, highly developed ecosystems can support international exhibition activity by reducing operational friction and increasing predictability. For organisers, this translates into both lower execution risk and more reliable outcomes.
No universal leader Across these three dimensions, no single market dominates. This is not an anomaly. It reflects the underlying structure of the global exhibition industry, where all markets combine their respective strengths and constraints.
Large, mature markets tend to score highly on scale / ecosystem factors but may face saturation or limited growth. Emerging markets often offer strong demand potential while still developing infrastructure and institutional capacity. Others occupy intermediate positions, combining elements of both.
The result is a landscape defined by diversity rather than hierarchy. Market attractiveness depends on how different structural factors interact, on how those interactions align with specific strategic objectives.
From ranking to strategy For organisers, venue operators and investors, this shift has direct implications. Market selection is no longer a question of identifying a single“ best” country. It requires a more differentiated assessment of market profiles. An organiser focused on growth may prioritise demand fundamentals and expansion potential. Another entering a new region may focus on competitive
“ Scale has become an incomplete proxy for opportunity”
accessibility. A third may value operational efficiency and ecosystem maturity. These priorities are not interchangeable.
A high-growth market may involve higher execution risk. A highly efficient market may offer limited scale. A large market may be difficult to access due to competitive concentration. Understanding these trade-offs is central to strategic decision-making.
“ No single exhibition market is universally optimal— attractiveness depends on how market structure aligns with strategic objectives”
A more differentiated industry The findings also reflect a broader evolution of the exhibition industry. Global markets are diverging in their development paths. Europe and North America remain central in terms of overall activity, with more constrained growth. Despite the current military activities, the Middle East is expanding rapidly, supported by investment or policy initiatives. Asia presents a more mixed picture, combining largescale markets with varying growth trajectories and ecosystem conditions. This diversification increases the need for more granular comparative tools. Standardised rankings based on scale alone are less effective in capturing these dynamics.
The role of benchmarking At the same time, benchmarking remains essential. However, the metrics used must reflect the complexity of the markets being compared: a multidimensional framework does not replace traditional indicators. It complements them by providing additional context. Just as well, scale continues to matter – as well as other structural factors.
The purpose of the new jwc ranking is not to redefine the hierarchy of markets, but to improve how that hierarchy is understood. EW
n Contact jwc to go deeper, and to purchase the GIPR report: www. jwc. eu. com www. exhibitionworld. co. uk Issue 2 2026 37