PARIS — Trade show industry insiders finally have some positive news to celebrate, with the release of the third edition of the Global Recovery Insights 2021 report, produced by UFI, the Global Association of the Exhibition Industry, and research firm Explori, and supported by the Society for Independent Show Organizers.
The impact of the pandemic on spending has been much less severe than expected, according to the survey. Nearly half of exhibitors surveyed (45%) expect their budgets to return to normal over the next year, and 62% plan to attend shows with the same or increased frequency as before the pandemic. On the attendee side, 72% of respondents expressed the same intention.
Related. Industry expected to fully rebound by 2023, says 2021 CEIR Index
The survey results also confirm the trend observed in recent months by trade show organizers and exhibitors, which sees lower attendance but better quality. While the number of visitors is traditionally used as a determining factor in participation in a trade show, 86% of exhibitors responding to this survey said that the quality of visitors greatly influences their decision to invest in a trade show.
Related. 2021 Global Index Performance Overview
Another important finding is that digital events have failed to replace physical events, and face-to-face remains the preferred channel for networking and the overall experience. However, senior marketing decision-makers in the US and UK who were included in this study said they expect digital events to remain part of their marketing mix, even if they intend to exhibit at physical events.
Related. Lessons from a year of online events
This latest installation in the Global Recovery Insights series was conducted in the summer of 2021 and received 15,000 responses from exhibitors and attendees in over 30 countries.
“This report provides many reasons for optimism, including dispelling doubts about the potential abandonment of in-person events,” said Kai Hattendorf, CEO of UFI. “As physical trade shows restart around the world, we hope these findings will help the industry recover quickly and beyond.”
Contact Kai Hattendorf at +40 171 5441198 or kh@ufi.org