Rising turnover is boosting business confidence in the international exhibition industry, with a majority of companies declaring the effect of the global financial crisis over, according to a new industry report.
Industry group UFI released its 15th Global Barometer survey this week (July 7), which measures business confidence in the wake of the economic crisis.
The survey of 201 companies from 55 countries revealed about 60 per cent of businesses reported increased turnover in 2015, with the growth expected to continue into the first half of 2016.
The strongest growth was reported in the US and China, where 70 per cent of businesses reported increased turnover in 2015.
UFI managing director Paul Woodward said: “Despite fairly different economic situations around the world, the regional consolidated results indicate some converging positive results in terms of turnover increase for the coming year.”
About half of respondents said the impact of the “economic crisis” on their business was over, while a further 20 per cent expected it would end in 2015-16.
Compared to the survey’s 2014 results, turnover growth for Europe and the Americas remained stable, however it represented a slight slow-down for the Asia Pacific, Middle East and Africa.
About 40 per cent of businesses outside the Asia Pacific region declared an increase in annual operating profits of more than 10 per cent during 2014-2015.
Meanwhile, in the Asia Pacific, 30 per cent of companies reported an increase of more than 10 per cent in 2014, which rose to 50 per cent in 2015.
In China, 58 per cent of companies expected their operating profits would increase by more than 10 per cent in 2015.
“This survey proves very useful for the industry and its stakeholders and we encourage all surveyed companies to keep providing their input for the next editions,” Woodward said.
Respondents said the top three issues facing the exhibition industry were the state of the economy, internal management challenges and competition – local or national - within the exhibition industry.
The next Global Barometer survey will be conducted in December 2015.
To download the free report go ufi.org/research
