Notable M & A deals in 2023 |
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in China , which contributes to more than half the overall size of emerging markets .
Globex forecasts upggrade across the board In contrast to Globex 2022 , the prior edition of this report , Stax ’ s forecasts have been revised upwards . Last year , we predicted an almost full recovery in 2024 to $ 27.3bn . We are now expecting the 2024 market to exceed 2019 levels by 7 % to reach $ 30bn – a 10 % upgrade in our outlook . This is a culmination of strong show performance around the world over the past 12 months , consisting of renewed optimism among organisers and other stakeholders , a reduction in macroeconomic uncertainty , and a noted increase in participant satisfaction at exhibitions post-Covid .
Among the five largest exhibition markets globally , forecasts for the UK have seen the largest upward
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revision ( 10-15 %). The domestic nature of the market , resilience of large organiser portfolios , and dampening of macroeconomic uncertainty over the past year have contributed to the more positive outlook . Elsewhere , forecasts for China have also been revised upward , primarily due to the restrictions on exhibitions and international travel being lifted earlier than anticipated .
Within the long tail of smaller markets , GCC forecasts have been revised upwards by c . 25 % owing to recent initiatives by governments in the region to attract international organisers and support the exhibition industry . The strong presence of dmg events , RX Middle East , and Informa Markets ( via Tahaluf in Saudi Arabia ) reaffirm the rapid growth in GCC .
Renewed confidence in M & A The exhibition industry ’ s strongerthan-expected recovery has also
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About Globex
The Globex annual report is written by Stax ’ s team of strategy consultants and provides the market outlook to 2025 for 19 mature and emerging markets . More information can be found at https :// www . stax . com / globex or contact Athan Siah , Co-editor of Globex at asiah @ stax . com
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translated into renewed investor confidence . During the Covid period between 2020 and 2022 , strategic investment was largely non existent as organisers ’ cash flows were severely limited by the absence of shows , while investors who were understandably apprehensive regarding the future of face to face held back on capital injections into the industry .
However , since the beginning of 2023 , there has been heightened M & A activity . The industry has witnessed a slew of deals , both corporate and private equity-led . Notable investments from outside the industry include Blackstone ’ s acquisition of Cvent for $ 4.6bn and the joint acquisition of Hyve by Providence and Searchlight for £ 524m .
Stax expects M & A activity levels to continue to ramp up over the next 12 months , driven by reduced macroeconomic uncertainty and the positive industry outlook . EW
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