Global exhibition industry experiences strong growth for 2023 and 2024

by Julia Pott

The global exhibition industry is seeing a significant upward trend, with record revenues and positive outlooks for the coming years. According to the latest Global Exhibition Barometer published by the Global Association of the Exhibition Industry (UFI) in August 2024, revenue growth of 20% is expected for 2023, followed by a further 17% in 2024. This recovery from the pandemic-induced downturn not only signals a return to normal but also reflects an increase in job creation and investment within the sector.

Despite global economic uncertainties, companies in the exhibition industry remain optimistic about the upcoming months. The survey revealed that 48 per cent of companies worldwide plan to increase their workforce over the next six months, while another 48 per cent aim to maintain their current staffing levels.

Malaysia (91%), Brazil (75%), and the United Arab Emirates (73%) show the highest demand for personnel growth. In Europe, 45 per cent of companies plan to expand their workforce, while 53 per cent expect to stabilise it. In Germany, both categories stand at 50 per cent, reflecting a balanced outlook

In the first half of 2024, 50% of companies worldwide reported increased business activity. Particularly in Europe and North America, 60% of companies experienced growth, while the Asia-Pacific region, Latin America, the Middle East, and Africa also saw strong growth rates. This positive trend is expected to continue through 2024, with similar growth levels projected across all regions.

Revenues in 2023 increased significantly worldwide, with Malaysia's revenues reaching 143 percent of 2022 levels. Similar trends were observed in Thailand (139 percent) and the United States (132 percent). Looking ahead to 2024, strong growth is also anticipated in countries such as Colombia (148 percent), Brazil (138 percent), and the United Arab Emirates (123 percent), compared to 2023. In Germany, revenue levels are expected to reach 106 percent of the previous year's figures, and in China, 105 percent.

Regarding operational profits, 61% of companies expect a rise of more than 10% for 2023, and the outlook for 2024 remains equally positive.

Key challenges continue to be the economic situation in domestic markets and global economic developments. Other critical issues include internal management challenges, sustainability, and digitalisation. The strategic priorities for companies focus on developing new business areas and geographic expansion.

A staggering 90% of companies believe that artificial intelligence (AI) will significantly transform the industry. The primary areas where AI is expected to make the most impact are sales, marketing, and customer relations (83%), research and development (82%), and event production (69%). Companies are already leveraging generative AI to improve efficiency in these areas.

According to the AUMA Event Organiser Outlook, a survey conducted among 172 German event organisers in April 2024, more than half of the employees in the exhibition industry are already using AI in their work. Key areas of application include text support, chatbots, data analysis, and marketing automation. Looking ahead, AI use is expected to expand further, particularly in areas such as personalised recommendations, task automation, enhancing visitor experiences, and AI-assisted networking and matchmaking. This suggests that AI will continue to play an increasingly important role in the exhibition industry.

Sources: AUMA press release (German), UFI Global Exhibition Barometer, AUMA WISSEN trade fair insights (German)