ASIA - Industry analyst and former UFI president Jochen Witt closed the UFI Annual Congress in Seoul last week with the revelation that growth in USA and Europe is “beginning to outstrip that in the emerging markets”.
Delivering his traditional congress-wrapping economic and industry overview, Witt claimed data from the Organisation for European Economic Development (OECD) shows global growth is shifting away from emerging economies. “Growth there is slowing down, 2-digit growth is over,” he told delegates.
According to Witt’s research, USA trade fairs visitors are up 20 per cent, “an indicator of real business growth”.
Witt also confirmed that while China's share of world GDP surpassed Euro area in 2011, and will surpass USA in 2019, its huge over capacity means the government's share in venue space is growing from eight per cent to 21 per cent, with space sold now at 33 per cent.
“As an exhibition market, Shanghai is the largest in Asia - larger than Japan,” he claimed.
Contrastingly, the most interesting market in Asia is Indonesia, Witt claimed, describing it as a large growing country that is not so dependent on exports.
"Indonesia has double Malaysia's GDP, but less exhibition space,” he said, adding that
GDP throughout the ASEAN region is growing faster than rented space.
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