The Exhibition and Event Association of Australasia (EEAA) today welcomed the launch of the 20th Global Exhibition Barometer by The Global Association of the Exhibition Industry, UFI, which for the first time included an Australian “country report”.
EEAA Chief Executive, Joyce DiMascio, said the report represents up-to-date information on the development and outlook of the global exhibition industry and Australia’s results point to a positive year ahead for the Australian market.
“It is exciting to now have Australia’s market profile included in this global research conducted by UFI.
“It is even more exciting that Australia is forecast to have a strong 2018,” DiMascio said.
“In addition to the UFI Barometer, EEAA’s own Member research shows that Organisers, Venues and Suppliers are very positive about 2018 with a wide-range of new shows to be launched across new industry sectors.
UFI CEO, Kai Hattendorf, said he was pleased that the partnership with EEAA, which was announced at the end of September 2017, was already yielding beneficial outcomes for the sector – both locally and globally.
“Just a few months ago, EEAA and UFI agreed to collaborate on issues like research and education, and I am very pleased that we can show tangible results so quickly – adding an Australia market profile to UFI’s flagship research, the Global Exhibition Barometer,” Hattendorf said.
“All around the world, the exhibition industry is embracing a fast development of new opportunities, and expect new types of business to grow into a relevant source of income within just a few years.
“Among the 17 markets specifically profiled in the 20th UFI Barometer, Australia belongs to a group of five markets most optimistic about new business model revenues in the coming five years, together with the US, India, Macau, and Thailand.”
UFI’s research manager and barometer project lead, Christian Druart, said the exhibition industry in Australia is optimistic about revenue growth in 2018 with 43 per cent of companies participating in the research, foreseeing a strong increase in their operating profit by more than 10per cent.
“When it comes to the most important business issues, Australia’s geographical position leads to special emphasis on the economic development in the home market, whereas global economic developments are seen as less relevant, compared to the global survey results,” Druart said.
“However, three out of every ten Australian companies participating in the research state that they want to operate in new countries and markets – showing a significant interest in internationalisation.”
Key outcomes of the 20th Global Exhibition Barometer:
- In the Asia-Pacific region, 73-83% of companies anticipate an increase of turnover, on average for the 2 halves of 2018.
- In Australia, 43% of companies foresee a strong increase in their operating profit by more than 10%.
- The current strategic priority for the Australian market is to develop new activities in terms of live events or virtual events.
- Australia’s geographical position leads to special emphasis on the economic development in the home market.
- Three out of every ten Australian companies state that they want to operate in new countries and markets – showing a significant interest in internationalisation.
Read Kai Hattendorf’s piece on the importance of new business models for future revenues: