UFI Report Projects Growth for Trade Shows in 2021
February 2, 2021
A new report from UFI, the Global Association of the Exhibition Industry, predicts that a comeback is in the offing for trade shows.
Having polled 457 companies in 64 countries and 29 different regions, UFI lays claim to its research being the industry’s gold standard. Exhibitors as well as planners and organizers can only hope the association’s report is right on target.
According to the bi-annual UFI Global Barometer:
- Industry revenues will double in 2021, compared to 2020
- 64% of respondents say last year’s loss of events due to COVID-19 has only reinforced the importance of face-to-face gatherings
- 57% of North American companies say virtual events will not replace in-person events.
The news comes as the pandemic has kept trade shows on the sidelines while some convention centers and exhibit halls have been transformed into vaccination centers.
“This is the darkest hour before the dawn,” said Kai Hattendorf, UFI managing director and CEO. “This tunnel will end, driven by vaccination drives. We believe we are in for a busy year.”
Such positivity comes on the heels of a harsh winter to complete 2020’s challenges. The pandemic forced half of the companies UFI surveyed into silence between April and August. Moreover, 54% of companies in the survey said they cut workforce (half said by at least 25%) and 10% said they will close for good should events not get off the ground in the next six months.
A spike in COVID cases and cold weather have maintained the slide, though there are signs of life.
As some trade shows go on in-person, the number of organizations predicting activity to rise to near pre-pandemic levels hits 37%, compared to 10% in January.
The readiness of exhibition companies and attendees to participate in events and the lifting of current travel restrictions were, not surprisingly, listed as the top keys to resuming business as usual.
Hattendorf emphasized the importance of keeping events business afloat until the tide turns. “If we are able to run marketplaces, we need the industry’s ecosystem intact on the other side of COVID,” he said.
That “other side” looks to be the end of June or July, followed by a dramatic increase in industry movement this fall.
The prediction that revenues will double last year’s rate is particularly heartening, as the numbers suggest a building momentum for 2022 and 2023. And while virtual is here to stay, it’s not likely to replace face-to-face events, Hattendorf added.
“We will ‘build back’ even better, and while the industry will remain, primarily, a face-to-face marketing channel, digital offers will evolve with new patterns,” he said.
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Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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