UFI Barometer Reports Global Outlook For Exhibition Industry into 2023

The event and exhibition industry still faces hurdles from labor shortages to rising costs as we get into the second half of 2022, but it has so far been a strong year for the industry’s recovery and it will continue to bounce back through the end of the year and into 2023.

UFI has completed its next Global Barometer report, based on an industry survey conducted in June 2022. The results indicate that the industry is bouncing back faster this year, with 68 percent of respondents reporting normal operating levels as of June, with that number reaching 74 percent predicting normal operations by September — up from only 30 percent in January.

On the flip side, only 8 percent were experiencing no activity in June, compared to 29 percent in January. By September, that number shrinks to 3 percent. International exhibitions continue to lag behind local and national events when it comes to reopening, which makes sense, but they too are on the rebound. 74 percent of organizations noted that international exhibitions are already open in their city (compared to 96 percent for national and local events) and an additional 17 percent expect them to open by the end of the year.

Predictably, the majority of respondents believe that the lifting of travel restrictions would most help the bounce back of the exhibition industry, followed closely by the readiness of exhibitors and attendees to participate again. Travel restrictions continue to ease in many parts of the world, but they remain an issue in places like China that still have strict Covid policies in place.

Revenues are also looking better and better and are expected to reach 73 percent of 2019 levels by the end of 2022, and 87 percent of pre-pandemic levels in the first half of 2023. This will be a multi-year recovery, and will hopefully culminate in revenues that exceed 2019’s, especially if the industry can figure out how to more effectively leverage digital tools.

The top issues facing exhibition companies have remained relatively constant since the beginning of the year, with one exception: the impact of the pandemic on business. 19 percent indicated this as a major issue in January, and that number is now down to 11 percent.

The top challenges reported as of June were internal management challenges (including staffing), the impact of digitization (including new digital products and hybrid events), and competition with other media (including virtual trade shows).

The tension between in-person and virtual offerings is also reflected here, with fewer respondents than in the previous report indicating that they believe there is a push towards hybrid events and more digital elements. However, a little over half still believe that there is, and 65 percent have added digital products around existing exhibitions. This ongoing digitization will be a major topic in the industry moving forward as it continues to transform the way organizations work and design events.

“The bounce-back of exhibitions around the world has entered its next phase, and pre-COVID levels will be within reach as early as next year in some markets,” said Kai Hattendorf, Managing Director and CEO at UFI. “As the industry manages this amazing recovery, it is also dealing with significant staffing challenges, and is working to apply key learning from the pandemic around the digitisation of events and services into its business model.”