Mice Affairs Media group, News Bureau, 04 Feb
The global association of exhibition industry, UFi has released a damage assessment report, covering the figures of overall exhibition industry impact in the year 2020.
– The global exhibition business industry has contracted by 68%, compared to 2019
– €200 billion (USD 224 billion) of total exhibition-related output not generated, and with 2.4 million jobs affected in the exhibition and exhibition-related activities
– €330 billion (USD 370 billion) of contracts business agreements between exhibition participants not generated
Figures show that global industry revenues for the year 2020 dropped by 68%, compared with the year to 2019. This result is based on the regional data provided in the UFI Global Exhibition Barometer released last week, which indicates that 2020 revenues represented only 23% of those of from 2019 in Central and South America, rising to 24% in the Middle East & and Africa, 27% in the Asia-/Pacific region, 32% in Europe and 36% in North America.
Exhibitions have a direct impact on the numerous sectors in the territories/regions where they take place. The total output not produced – for the exhibition industry itself (venues, organizers and, service providers), but for all the related industries sectors, such as that benefit from participants’ expenditure (accommodation, restaurants and, transport). Taking all of these sectors into account, it – is estimated that a minimum of €200 billion (USD 224 billion) of total exhibition-related output was not generated in 2020 to be a minimum of 200 billion euros (USD 224 billion), including €80 billion (USD 90 billion) for in North America, €65 billion (USD 73 billion) for in Europe, and €46 billion (USD 52 billion) for in the Asia-/Pacific region.
This translates into 2.4 million full-time equivalent jobs affected globally.
Exhibiting companies use face-to-face events to generate contacts that lead to business, either at or soon after the event, and the non-tenure of most exhibitions in 2020 has lead to an estimated €330 billion (USD 370 billion) of business volume affected. While a small fraction of that loss may have been compensated, for specific sectors, with the development of purely digital solutions, the net impact remains very high.
“The impact of the COVID-19 on the exhibition industry is strong, and this also impacts all those industry sectors who benefit from face-to-face events. The impact has not just been felt by exhibitors, who showcase their products and develop their sales, but also by those all involved in ‘“tourism-related’” activities. We all look forward to the lifting of the current restrictions, to see and the rebound of our economies, where exhibitions shall play an important role,” says Kai Hattendorf, UFI Managing Director and CEO.