Overall, BSG estimates that Asia saw a 63% decline in net floor space sold in 2020 compared to 2019 due to the COVID-19 pandemic. China’s relatively strong performance prevented the regional average from falling further. Trade shows in major Chinese exhibition cities ran relatively normally from July to December 2020, albeit with significantly reduced international participation.
Among the major Asian markets, Hong Kong was hit the hardest, with net space sold down around 95% in 2020. This weak performance is expected to repeat in 2021 as Hong Kong’s borders remain largely closed heading into the fourth quarter of the year.
“2020 and 2021 will go down in history as two extremely challenging years for event organisers. While hopes are high for a recovery in 2022, a number of factors continue to hamper a possible return to normal, including new COVID-19 variants, government policies, vaccination rates and travel restrictions,” said Mark Cochrane, UFI Regional Director for Asia/Pacific and Managing Director of BSG.
Related. Singapore leaders’ joint summit marks revival of business events
“This is a global crisis that has affected all UFI members. As expected, net sales in Asia in 2020 declined significantly, but our industry will recover and will continue to play a vital role in Asia’s economic recovery. Full recovery will be on a case-by-case basis, making this report more valuable than ever. UFI and our members are advocating for common-sense measures to enable our industry and the region’s economies to recover,” said Kai Hattendorf, UFI Managing Director and CEO.
For more information about this report, please email asia@ufi.org.
For a more in-depth look at the Asian trade show market and how it is regaining momentum after the slowdown, be sure to check out the December issue of Trade Fair Manager. Not a subscriber? Click here become one.
Contact Mark Cochrane on +852 2525 6120 or mark@bsgasia.com; Kai Hattendorf on +40 171 5441198 Or kh@ufi.org