UFI Global Barometer points towards bounce back
Global exhibition revenues are expected to reach 73 % of pre-pandemic levels in 2022 , and 87 % in the first half of 2023 , according to the latest data
FI , the global
U association of the exhibition industry , has released the latest edition of its flagship Global Exhibition Barometer research , which surveys the industry annually to assess market sentiment .
The results highlight the increased pace of the industry ’ s recovery in 2022 , after the continuing impact of Covid-19 throughout 2021 . The sector is bouncing back quickly , and revenues for the first half of 2023 are expected to reach 87 % of comparable 2019 levels ( noting that 2019 has been the industry ’ s record year to date ).
In terms of operations , around six in 10 companies are reporting ‘ normal activity ’ – up from just three in ten , six months ago . By the end of the year , seven in 10 companies expect to be operating at normal levels , while only around 5 % of companies still expect to have ‘ no activity ’ from September 2022 .
When asked what elements are most crucial to supporting the
‘ bounce-back ’ of exhibitions , six in 10 companies selected ‘ Lifting of current travel restrictions ’ and ‘ Readiness of exhibiting companies and visitors to participate again ’. The two next most influential drivers are ‘ Financial incentive packages ( leading to reduced costs for the exhibitors )’ and ‘ Lifting of current public policies that apply locally to exhibitions ’, mentioned by four in ten and three in 10 companies respectively .
In terms of 2022 operating profits , 25 % of companies globally are expecting either a loss , or a reduction of more than 50 %, compared to 2019 levels . Overall , 73 % of companies received no public financial support during the pandemic , and for the majority of those that did , financial public aid represented less than 10 % of their overall costs .
The most pressing business issues reflect how the industry is now focusing on post-pandemic challenges and opportunities . ‘ Internal management challenges ’ ( highlighted by 20 % of respondents ), ‘ Impact of digitisation ’ ( 17 %) and ‘ Competition with other media ’ ( 15 %) are the most common .
Meanwhile , the ‘ Impact of the Covid-19 pandemic on the business ’ has dropped from being the most pressing business issue to the sixth-most pressing issue ( a drop from 19 % to 11 %), compared to the previous edition of the Barometer .
Commenting on the findings , Kai Hattendorf , managing director and CEO at UFI said : “ The bounce-back of exhibitions around the world has entered its next phase , and pre- Covid levels will be within reach as
73 %
Global exhibition revenues are expected to reach 73 % of pre-pandemic levels in 2022
20 Issue 4 2022 www . exhibitionworld . co . uk