The global exhibition industry is experiencing a remarkable rebound, as confirmed by the 33rd UFI Global Exhibition Barometer. This latest report, drawing on data from 453 companies across 68 countries, indicates that 2024 is shaping up to be a record year for exhibitions and fairs worldwide.
Strong growth in operations and revenue
The first half of 2024 saw a significant uptick in activity across the industry. Globally, 50% of companies reported increased operations, with this figure rising to 60% in Europe and North America. The trend is expected to continue, with projections for the second half of 2024 and into 2025 showing optimism across all regions.
Revenue growth is a key highlight, with global revenues expected to rise by an average of 17% in 2024 compared to the previous year. This growth underscores the resilience and recovery of the exhibition sector, which has faced numerous challenges in recent years.
Operating profits on the rise
Operating profits are also showing a strong upward trend. In 2023, 61% of companies reported an annual profit increase of more than 10%, and this positive momentum is expected to continue into 2024. Regions such as Malaysia, Brazil, and the UK are leading the way, with many companies anticipating significant profit gains.
Workforce development and strategic priorities
Workforce expansion remains a priority for many companies in the exhibition industry. Globally, 48% of companies plan to increase their staff in the next six months, with notable increases expected in Malaysia (91%) and Brazil (75%).
Strategically, the industry is focusing on both traditional and new activities. Many companies are looking to expand their geographic reach, with 43% planning to develop operations in new countries and regions. This expansion reflects the growing importance of exhibitions and fairs as global business platforms.
Key challenges: Economic and Technological shifts
The report also identifies several critical challenges facing the industry. Global economic developments and geopolitical issues are top concerns, cited by 37% of respondents. Additionally, sustainability and climate concerns are increasingly influencing business decisions, alongside the rising impact of generative AI applications in areas like sales, marketing, and event production.
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