UK Exhibitions Industry Bouncing Back
Story by: Emily Wallin
Sourced from: Adam Parry, UK Event Exhibition News
Photo by: David Nicolai

The UK exhibitions industry is bouncing back from Covid-19 and recovering better than many other geographies – the latest research from the global association for the exhibitions industry, UFI, has shown.

The results show that UK exhibitions are performing well but highlight different concerns for organisers here to the rest of the world. The biggest pressure for the UK industry for the coming year was the national economy and global economic pressures, whereas worldwide results prioritised issues within management structures and digitalisation.

The UFI Global Barometer is a bi-annual report analysing market trends and pressures from the global association for the exhibitions industry.

The 30th edition of the survey, concluded in January, and provides insights from 367 companies, across 56 countries and regions. It was conducted in collaboration with 21 UFI member associations.

The report reveals global findings as well as a country-specific breakdown of results.

UK specific results showed:

• Operating profits are better than 2019 for more than half of UK organisers  (compared to 31% globally)
• 90% of companies expect normal levels of operations from June 2023 (only Brazil, Turkey and the US expected better and compared to 80% globally)
• average revenue for participating UK companies was 104% of 2019 levels (compared to Europe 85% an world 74%)
• Key issue for UK organisers: state of the economy in home market and global economic developments (both 18%), followed by internal management challenges and digitisation (both 15%).

Global organisers ranked “internal management challenges” (20%) and the “impact of digitalisation” (16%) as the most pressing issues, but UK organisers ranked the economy and global economics as the two most serious concerns affecting trade.

Most important business issues in the exhibitions industry UK (blue) vs worldwide (grey)

The bounce back from Covid-19 was as good as over, the results showed, with 75% of UK companies exceeding 2019 revenues.

The results showed 50% of UK organisers were making profits 10% or more higher than 2019. A further 29% said their profits were stable (-10% to +10%).

UK exhibition revenues compared to 2019

UK exhibition operating profits compared to 2019

Covid recovery

Post-pandemic operations were continuing to improve globally: the proportion of companies declaring a “normal activity” gradually increased between January and December 2022 from 30% to 72% and it is expected to reach 80% in June 2023.

The UK ranked amongst the highest performing countries for expected returns to “normal activity” for the first half of 2023. In Brazil, organisers expect to run 98% of events, Turkey and the US 95%, the UK 90%, Italy and Thailand 88%, and Spain and UAE (85%).

The survey sought insights into possible trends that will drive the future format of exhibitions.

The global results indicated:

• 88% of respondents anticipate the sector will bounce back quickly from Covid-19.
• 26% believe there will be less international exhibitions with less participants
• 57% believe there is a push towards hybrid events, and more digital elements at events.
• only 5% (compared to 11% and 14% previously) thought that virtual events were replacing physical events”, whilst 84% disagreed.

Managing director and CEO at UFI Kai Hattendorf said:

While every market shows certain specifics, globally attention has shifted toward future challenges. We can stop focusing on post-pandemic recovery – and move on.”

 

 

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About UK Event Industry News: Adam is the co-founder and editor of www.eventindustrynews.com Adam, a technology evangelist also organises Event Tech Live, Europe’s only show dedicated to event technology and the Event Technology Awards. Both events take place in November, London.