The global exhibitions market is set to contract by c.70% in 2020, according to the latest Globex updated 2020 forecast released by strategy consultancy AMR International.
The forecast measures the direct impact of Covid-19 on the global exhibitions organising market. AMR’s methodology has focused on three factors: event cancellations, event postponements and the contraction of events. AMR then measured and estimated each of these factors for each quarter and applied this method to all 20 countries covered by Globex, the global exhibitions industry’s annual assessment and forecast.
As the graph illustrates, the Globex 2019 estimate of market size (based on proforma revenues) was US$29.7bn. In Q4 2020, AMR expects the market size to drop by a further US$6.6bn, with the total estimated market size shrinking to approximately US$8.9bn by the end of 2020 – leading to c.70% contraction.
Florent Jarry, head of AMR’s Global Events Practice said: “The pandemic is having a devastating impact across the global exhibitions market. However, the situation does vary strongly by country, with China and Brazil respectively least and worst hit.
“The next full edition of Globex will be released in November and will include AMR’s country-by-country view for 2021 and 2022. This data and analysis will help organisers with their strategic planning efforts and investors will have a clearer view of future market opportunities.”
Globex 2020 is available to pre-order up until 1 November. UFI members receive a 20% discount.