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UFI, the Global Association of the Exhibition Industry, in the latest 31st edition of its flagship Global Exhibition Barometer research, reported a 44% year-on-year growth in business event bid wins in Dubai for the first half of 2023, with 143 conferences and meetings won, representing 97% of 2019’s revenue.
Here are the key points of the report:
- Countries with the highest expected “normal activity” in the second half of 2023 are Australia, the UK, Italy, the USA, Brazil, and Argentina.
- Revenues for 2022 and 2023 represent 78% and 97% of 2019 levels, indicating a progressive recovery and half of the companies report an increase or stable operating profit compared to 2019.
- Internal management issues, digitalization impact, competition with other media, and economic state are some of the critical concerns for the industry, while the impact of COVID-19 is now one of the least pressing issues.
- Changing customer expectations, staffing, digitalization, and climate-related regulations are expected to have the greatest impact on business development in the next five years.
- Companies are embracing digitalization, adding digital services, digitizing internal processes, and developing digital transformation strategies for exhibitions and themselves.
- The majority (91%) agree that face-to-face events are valuable, and there is a push towards hybrid events with more digital elements (56%).
- Virtual events replacing physical events are agreed upon by only 6% of respondents.
Source: meetings-conventions-asia.com
