Building upon the picture of the exhibition industry reflected in the first UFI Global Economic Crisis Barometer survey conducted in the first quarter of 2009, UFI’s just completed second survey took a look at the impact of the current economic climate on new industry aspects (download available).
Many of the questions in the second survey conducted in April/May 2009, were different from the first survey edition as not all questions were deemed to require evaluation on a quarterly basis.
This second Global Economic Crisis Barometer Survey, completed with the support of SISO (Society of Independent Show Organizers) in North America and AFIDA (Asociacion International de Ferias de America) in Central and South America, collected and evaluated replies from 53 nations.
Findings indicate a contrasted situation with around 7 companies out of 10 experiencing a decrease in space sales (68% for B2B shows and 71% for B2C shows); while the other companies maintained levels or showed increases.
This decrease was similarly reflected in visitor attendance figures where B2B attendance showed a slight edge on that of B2C exhibitions. Interestingly the Middle East seems to be faring better than other geographic regions.
Almost 80% of participating exhibition firms indicated that they had experienced a decrease in turnover during the first half of 2009 as compared to the first half of 2008. For over 40% of the organisations, declines of up to 10% were registered. But the industry is moving swiftly to develop financial solutions and to work with exhibitors during these tough times.
48% of exhibition companies initiated space rate discounts and over 85% have initiated (or plan to soon do so) measures for meaningful cost reductions throughout their operational activities.
The exhibition industry seems to be consistent with other economic indicator factors as trade shows in certain industry sectors reveal themselves to be more vulnerable than in others.
B2B themed shows in real estate, construction, financial and transport areas were hit the hardest while B2C shows felt the crunch in real estate, interior decoration/home equipment, textile and tourism sectors.
UFI will undertake its third Global Economic Crisis Barometer survey in July, 2009 and at that time will take a look at the trends to be drawn from this continuing data analysis.
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