Business
TRADE SHOWS: WHAT’S NEXT? By Tim Carter
“Will trade shows come back, as economies start to open up?” “What are trade shows going to look like post pandemic?” “Will it be worthwhile to exhibit at shows?” Several of my clients have recently asked some serious questions about trade shows! I am optimistic shows will open in the next few months and will return to growing the world’s economies. The size of the trade show industry alone will provide momentum to reopen for business, and there are other good reasons shows will return sooner rather than later. Trade shows experienced general downturns post 9/11 and after the 2008 financial crisis, the two most recent recessionary examples similar in impact to our current situation. In both instances, the recovery happened with quarter-over-quarter consistent growth ultimately surpassing prerecession levels. While the recovery from the pandemic may be di erent, there will be some similarities. UFI published a report in December 2019 that framed the global economic impact of the trade show industry, To extract just a few of the conclusions of that study:
2018 Direct Global Impact • Approximately 32,000 exhibitions (shows) directly involved 303 million visitors • Nearly five million exhibitors across more than 180 countries • More than $136.9 billion of direct spending by visitors, exhibitors and additional exhibitionsrelated expenditures • Exhibitions supported 3 million direct jobs globally • Generated $81.1 billion of direct GDP • Exhibitions generated nearly $30,200 in direct spending per exhibitor on a global basis • Based on $81.1 billion direct GDP impact,
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July-August 2020
the exhibitions sector would rank as the 72nd largest economy globally
2018 TOTAL (DIRECT AND INDUCED) GLOBAL IMPACT • • • •
$325.0 billion of business sales 2 million jobs $197.5 billion GDP Would rank the sector as the 56th largest economy globally, larger than the economies of countries such as Hungary, Kuwait, Sri Lanka, and Ecuador. From the same 2019 study, “North America and Europe ranked first and second in direct spending, representing 44% and 34% of total global direct spending in 2018, respectively. … (of the) nearly 303 million visitors and 4.5 million exhibitors in 2018…Europe ranked first in terms of total visitors with 112.0 million visitors and 1.3 million exhibitors. North America followed with 91.2 million visitors and 1.6 million exhibitors.”
There is no doubt, the trade show industry is a large part of the global economy, in numbers of jobs, and in direct and total economic impact. Zooming in, consider the impact on local levels. Trade shows are serious economic generators in dozens and dozens of cities across North America, employing thousands. Trade shows are magnets to these cities, attracting spending by show visitors throughout the local economies; hotels, restaurants, retail, transportation and many other opportunities. As I mentioned above, the sheer size of the trade show industry will provide momentum to reopen for business. Cities want their residents to be able to return to work (and tax revenue.) Businesses need to reopen. Trade shows can and will directly restart jobs. Exhibitions will reconnect companies within hundreds of industries so they can collectively jump start their businesses and put people back to work. Trade shows will come back DAWN
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