Despite the continued challenges posed by the COVID pandemic, the exhibitions industry plans to bounce back significantly in 2024. Per multiple industry sources, the exhibition market will see their most significant growth since 2019.
The industry is expected to make a notable recovery, signaling the end of a challenging period for the exhibitions market. Despite a temporary setback in 2023, with a 5% decline from 2019’s $28.0 billion to $26.5 billion, the industry is expected to reach $30 billion by 2024 and further rise to $32.5 billion by 2025.
Factors Driving Growth:
Several factors contribute to this optimistic outlook. The European energy crisis and inflationary concerns have subsided, bringing stability to the exhibition sector’s economic landscape. China’s early withdrawal of its zero-COVID policy has opened the doors for overseas trade events and exhibitions, further propelling the industry’s resurgence.
Improved Confidence and Investment:
Major markets have experienced a reduction in recession fears, leading to increased confidence and investment in exhibitions. The success of in-person events has played a pivotal role in fostering a positive industry outlook, marking a collective step towards the revitalization of the exhibitions sector.
In the face of unprecedented challenges, the exhibitions industry is not only recovering but set to surpass its pre-pandemic heights. The convergence of global economic stabilization, policy adjustments, and renewed confidence emphasizes a promising trajectory for the industry, paving the way for a vibrant future.
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