How pandemic changed exhibitions industry

Looking beyond the pandemic challenge, UFI, the global association of the exhibition industry has identified customer retention, climate change and carbon reductions, data and digital debate, a new staffing narrative, and tipping points as five trends that it sees will shape the next 12-18 months of the exhibition industry.

Before the global pandemic, in terms of total economic impact, the exhibitions industry had grown to be the equivalent of the 56th largest economy worldwide, supporting a total GDP of $197.5 billion and generating $325 billion of total output (business sales). However, that is not to say that everything was perfect. Some major shows ended abruptly, CeBIT in Hannover and Interbike in Las Vegas come to mind, and despite the very positive economic outcome, the rise of technology and digitization was already impacting the industry.

Businesses were looking for new ways to connect and engage with their customers, stakeholders, and peers, and demanding more data-led ROI than just the random contact model that many trade shows provided. Exhibition organizers were forced to find innovative ways to remain competitive and attract exhibitors and visitors to their events, simultaneously trying to digitize their companies, their events, and their products. A plethora of digital tools & products competed for their attention and business which were deployed with varying degrees of success. The Covid-19 pandemic was a brutal turning point for the events and exhibitions industry. Within just a few months all events globally were suspended, exhibitions for the most part being classified as 'mass gatherings' and high-risk activities. UFI data reported on the economic impact: €158 billion ($180 billion) of total output and 1.9 million jobs in exhibition and tourism-related activities were affected; and €260 billion ($296 billion) worth of contracts between exhibition participants weren't generated because of the shows not taking place.

As venues closed their doors, exhibition organizers had to pivot to digital platforms, and virtual and hybrid exhibitions became the new normal. Conferences managed this transition with some success, but digital exhibitions fared much worse. Most used a combination of webinars and smaller online events to keep in contact with their communities while postponing the live exhibition until it was safe to return.

Exhibitors have also shared a clear preference for live events. For example, 86 per cent said live events are better for the quality of networking required to generate sales leads and return on investment.

So, given the feedback from both visitors and exhibitors, digital events do not compare with face-to-face events. Whilst the pandemic forced businesses to trial other channels and virtual or hybrid events, nothing has been able to match the level of networking, brand exposure and lead generation opportunities that companies would get from exhibiting in person.

According to estimates, the exhibitions industry will return to pre-pandemic figures by 2024. However, because of the rush and demand to go back to live events, some expect figures to return to pre-pandemic levels by 2023, with revenues expected to grow by 173 per cent globally in 2022 (compared to 2021).

The United States, Germany, and India are the three countries with the most remarkable improvements in productivity. This demonstrates the significant growth opportunities inherent in the exhibitions industry market in India.

Organising exhibitions and events is one of the most important ways to stimulate and enable the economy. With India being one of the world's fastest-growing economies, the government's efforts to attract businesses from various industries are expected to increase the demand for such events and exhibitions even further.

The Indian government values the exhibition business and has invested in creating famous exhibition and conference halls. The private sector exposition infrastructure in India has also increased, with new venues being created and existing facilities being expanded and rebuilt.

The Indian Exhibition Industry Group (IEIA) is the national trade association representing the interests of Indian exhibition promoters, venue owners, and service suppliers in international exhibitions. In its campaign to reopen exhibitions in a reliable and comfortable atmosphere, the IEIA has engaged the Ministries of Finance, Trade, Tourism, MSME, Home Affairs, and State governments. There are always lessons learned and positive things to take forward. Firstly, what exhibition has proved as an industry is it won't be replaced by virtual events. But what digital is doing is improving education and content.