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early as next year in some markets . “ As the industry manages this amazing recovery , it is also dealing with significant staffing challenges , and is working to apply key learning from the pandemic around the digitisation of events and services into its business model .”
Size and scope This latest edition of UFI ’ s bi-annual industry survey was concluded in June 2022 and includes data from 366 companies in 57 countries and regions .
The study also includes outlooks and analysis for 23 focus countries and regions – Argentina , Australia , Brazil , Chile , China , Colombia , Germany , Hong Kong , India , Italy , Japan , Malaysia , Mexico , Saudi Arabia , Singapore , South Africa , South Korea , Spain , Thailand , Turkey , the UAE , the UK and the US – as well as five additional aggregated regional zones .
Operations : reopening exhibitions Spain , Turkey and the UK , in Europe , Saudi Arabia and the UAE , in the Middle East , and Australia and Brazil stand out as markets where the majority of companies returned to normal activity levels in early 2022 . Globally , most markets reached this point in March 2022 . Notably , Asia , as a region , only reached this point in May ( with China not expecting to reach this point until October , and for Hong Kong not until next year ).
Turnover , operating profits , and public financial support Globally , and on average , companies have seen a significant
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increase in their 2022 turnover , which now represents 73 % of 2019 levels . They also project this to increase to 87 %, using the same baseline for the first half of 2023 .
Many countries are performing well above average . In particular for 2022 revenues : the UK ( 89 % of 2019 levels ), Italy ( 86 %), Saudi Arabia ( 85 %), Turkey and South Korea ( 82 %) and Japan ( 80 %) Contrasting are the results from Hong Kong ( 34 % of 2019 levels ), China and South Africa ( both at 57 %) and Malaysia ( 59 %) for projected revenues for the first half of 2023 , most markets are expecting at least 75 % of 2019 levels , with only Hong Kong ( 58 %) China ( 69 %) and South Africa ( 72 %) expecting lower levels .
In terms of operating profit for 2022 , 10 % of companies globally are expecting a loss , and 15 % are expecting a reduction of more than 50 %, compared to 2019 levels .
Several regions include countries with a higher-than-average proportion of companies foreseeing a loss in 2022 . In particular : Brazil ( 13 %) in Central and South America ; Germany ( 15 %) and Italy ( 13 %) in Europe ; Australia ( 14 %), China ( 21 %), Hong Kong ( 20 %), India ( 17 %), Singapore ( 20 %), South Korea ( 11 %) and Thailand ( 40 %) in Asia-Pacific .
In terms of public financial support , Asia-Pacific and Europe saw the highest proportions of businesses receiving such funding ( 37 % and 35 % respectively ). In all regions , there are significant differences across markets , as can be seen in the following percentage ranges of companies declaring they received
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“ As the industry manages this amazing recovery , it is also dealing with significant staffing challenges , and is working to apply key learning from the pandemic around the digitisation of events and services into its business model ” |
‘ no public support ’: from 10 % in Hong-Kong to 92 % in India , in Asia-Pacific ; from 38 % in Germany to 86 % in Turkey , in Europe ; from 58 % in Colombia to 100 % in Chile , in Central and South America ; from 69 % in Saudi Arabia to 100 % in the UAE , in the Middle East and Africa .
Digitisation Overall , 65 % of respondents have added digital services / products ( such as apps , digital advertising and digital signage ) to their existing exhibition offerings . This is especially the case in Asia-Pacific ( 71 %).
In addition , while 49 % of respondents globally indicated they have digitised internal processes and workflows , this number was higher in the Middle East and Africa ( 62 %) and Europe ( 55 %). While 32 % of respondents globally have developed a digital or transformation strategy for exhibitions and products , this number was higher in Central and South America ( 38 %).
Staff recruitment Globally , 69 % of companies are currently in the process of recruiting more staff , with 62 % facing difficulties with sourcing appropriate candidates .
In all regions , most companies are currently recruiting more staff , while at country level , China is the only country where a majority of companies are not recruiting .
Key business issues ‘ Internal management challenges ’ is the key business issue for all regions , and it is the most selected issue for most markets , ►
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