UFI’s Global Exhibition Industry Survey Points to Cautious Optimism for 2015
January 8, 2015
The good news is that of companies polled for UFI, The Global Association of the Exhibition Industry’s 14th Global Barometer Survey, the majority of them have seen positive turnover since 2011. However, 41 percent of those surveyed didn’t think the worldwide economic crisis was over as of yet.
In addition, while there were profits in 2014, less than one company out of two saw annual profits rise more than 10 percent.
“In a globally fragile economic environment, the exhibition industry continues to demonstrate a fairly good performance, except in some countries with specific current issues,” said Paul Woodward, UFI’s managing director.
In the Americas, six companies out of 10 for 2014 and eight for 2015 posting increases, with the U.S. leading the way and Central and South America seeing significant drops the second half of 2014.
The Asia/Pacific region saw 70 percent of the companies declaring increases, even though China anticipates a slowdown in 2015, with a decrease from 88 percent for 2014 to 70 percent for 2015.
Europe, which has seen its challenges, is on the positive side, with 60 percent of the companies posting increases. Two countries may face headwinds in 2015 - from 86 percent in 2014 to 71 percent in 2015 in Turkey and from 43 percent to 11 percent in Russia.
An average eight companies out of 10 for 2014 and nine for 2015 had increases in the Middle East and Africa, where South Africa outperforms is a high performer.
As far as how companies view the economic crisis, the U.S. was the most positive, with 69 percent of the companied surveyed declaring it was over. Not surprisingly, though, with the sanctions and drop in oil prices, only 13 percent of Russian companies thought the crisis was over.
Companies also were asked to rank the three top issues they faced out of a possible list of seven and the top issue chosen by 27 percent was “State of the National/Regional Economy”, followed by 18 percent, who said “Local/National competition from the exhibition industry” was a concern.
Most companies are planning new business developments, with 76 percent planning new activities in either the classic range of exhibition activities (venue/organizer/services) or in live or virtual events (or both) and 51 percent plan to expand exhibition operations to new countries.
The 14th Global Barometer survey, conducted in December 2014, was answered by 203 companies from 55 countries.
“UFI encourages all surveyed companies to keep providing their input in order to maintain this important tool for the industry and its stakeholders,” Woodward said.
Full results of the 14th Global Barometer Survey can be freely downloaded at www.ufi.org/research. The next UFI Global Barometer Survey will be conducted in June 2015.
Partner Voices
MGM Resorts is renowned for its exceptional service and diverse venue options across Las Vegas, Detroit, Springfield, National Harbor, Biloxi, and Atlantic City, providing flexible spaces for meetings of any size. Beyond these offerings, MGM Resorts distinguishes itself through a strong commitment to social responsibility and sustainability, making it an ideal choice for your next meeting.
At the core of MGM Resorts' company values is its platform, "Focused on What Matters," dedicated to meeting customer needs while advancing socially responsible practices. This commitment is evident in several key areas:
Protecting Natural Resources
MGM Resorts is home to industry-leading recycling, renewable electricity and water conservation programs. Some highlights include a cogeneration power plant at ARIA, producing ultra-efficient electricity; one of America’s largest contiguous rooftop solar arrays atop the convention center at Mandalay Bay; and onsite wells that provide water for the celebrated Fountains of Bellagio, avoiding reliance on precious Colorado River water. These efforts and many more save on natural resources while boosting attendee satisfaction.
Committed to Community
Always striving to be good neighbors, MGM Resorts works to avoid food waste and combat food insecurity with the Feeding Forward program. In partnership with local food banks, they safely divert unserved food to food insecure members of the community. Since 2016, over 5 million meals have been provided, highlighting MGM Resorts' commitment to minimizing food waste and addressing community needs.
MGM Resorts supports clients in their responsible-meetings efforts, not only with efficient venues but also waste-reducing décor and signage; sustainable food and beverage options; and outreach to help planners communicate sustainability efforts to attendees. What’s more, they offer a Mindful Meetings series that puts attendee wellness first—through fitness and mindfulness activities, and in give-back events with local charity organizations.
Fostering Diversity & Inclusion
To MGM Resorts, a diverse and talented workforce is essential to success. By cultivating innovative strategies that consider multiple perspectives and viewpoints, the company creates an inclusive workplace culture that benefits its employees and community. MGM Resorts takes pride in being a welcoming home for veterans, individuals with disabilities, people from diverse backgrounds, LGBTQ+ community members, and more. This commitment to inclusion is reflected in the company's recruitment and hiring practices and its social responsibility initiatives. From the workplace to the community, MGM Resorts' commitment to diversity, equity and inclusion remains unwavering, and its efforts continue to create a more equitable and sustainable world for all.
MGM Resorts offers unparalleled service and venue options while standing out for its proactive approach to sustainability and community engagement. Choosing MGM Resorts for your next meeting means aligning with a company that values social responsibility, efficiency, and attendee satisfaction, ensuring a meaningful and impactful event experience.
Add new comment