Global Exhibition Market Value Predicted To Surpass 2019 Levels By 2024

October 3, 2023

Following the global shutdown of the exhibition industry due to the COVID pandemic, 19 of the world’s largest exhibitions markets are experiencing a robust recovery and are poised to surpass their 2019 size by 7% by 2024, according to the latest projections from Globex 2023, the exhibition industry’s annual report published by Stax.

Now in its 15th edition, Globex – the global exhibition organizing market: assessment and forecast to 2025 – analyzed 19 markets, including the U.S., China, U.K., Germany, France, Italy, Brazil, the Gulf Cooperation Council (GCC), Hong Kong, Turkey, Mexico, India, Indonesia, Singapore, Thailand, Malaysia, Vietnam, Macau and the Philippines. 

These 19 markets are expected to be valued at $26.5 billion in 2023, down 5% from $28.0 billion in 2019, according to Stax, a global management consulting firm serving corporate and private equity clients. The exhibitions market is projected to reach $30 billion by 2024 and $32.5 billion by 2025, according to Stax, which acquired AMR International, a strategy consulting company for the events industry that launched the Globex report, in 2022.


“From a nominal perspective, the exhibition industry is close to where it was before the pandemic,” said Globex 2023 Co-Editor Athan Siah. “This is also true when we look at organizers’ calendars and the volume of new launches in 2022-23. The next important question pertains to when the majority of shows will recover to their pre-COVID scale. According to our Globex 2023 report, we forecast global NSM (net square meters) volumes to reach 100% of 2019 levels by 2025.”

Stax Global Forecast

Compared to the previous year’s edition, Stax’s forecasts have been largely revised upwards, due to four key highlights:

  1. Economic Stabilization: The impacts of the European energy crisis and escalating inflation have receded, providing a more stable economic backdrop for the exhibition sector.
  2. China's Policy Shift: China has lifted its zero-COVID policy ahead of schedule, opening opportunities for international exhibitions and trade shows within the country.
  3. Recessionary Fears Abated: Recessionary fears have been assuaged in most major markets, bolstering confidence and investment in exhibitions.
  4. Positive Industry Outlook: Coupled with the strong performance of face-to-face exhibitions, the dampening of these headwinds has resulted in a more positive outlook for the industry overall.

“Regardless of when exactly full real recovery happens, one thing is for sure: the enduring value of face-to-face has been proven once again,” Siah said. “Digital and data will undoubtedly play a complementary role, but they will remain that – complements which strengthen the value proposition of face-to-face exhibitions.”

Don’t miss any event-related news: Sign up for our weekly e-newsletter HERE, listen to our latest podcast HERE and engage with us on TwitterFacebook and LinkedIn!

Add new comment

Partner Voices
One of the most iconic names on the Las Vegas Strip just got an upgrade. Mandalay Bay has everything that your business needs from a refreshed convention space designed to inspire productivity and creativity, to an impressive selection of world-class restaurants and amenities. If you're looking for a venue that's both inviting and innovative, you have to be here. New Wave Experiences Mandalay Bay continues to invest in a new wave of enhancements both in the convention space and within the resort as a whole. New restaurant openings including Orla by Michael Mina, drawing inspiration from the award-winning chef’s childhood in Egypt and with flavors and décor inspired by the spices found in markets common to coastal Mediterranean towns, as well as Caramá by Wolfgang Puck, bringing the essence of Italy and spirit of Wolfgang into one concept, are recent additions. The Four Seasons Hotel Las Vegas also experienced a recent remodel of all 424 rooms. Swingers, a high-end, adults-only golf and entertainment concept will debut in Fall 2024. Enhanced Technology Creating a truly effective conference venue requires careful thought into what a business needs: the right technology, capacity, and inspiration to bring ideas to the next level. As part of the resort’s refresh, Mandalay Bay implemented state-of-the-art technology upgrades, installing cutting-edge Cat6A Ethernet cabling throughout the convention center. This advancement doubles the frequency of data transmission, enabling lightning-fast speeds up to 9400% faster. The convention center now boasts 11 dynamic digital walls, spanning up to 24' x 13', strategically positioned for brand placements, sponsorships and targeted event messaging. Additionally, attendees can benefit from 20 double-sided 55" mobile flexible display units, facilitating effortless navigation to meeting rooms and events. RFID locks were installed on all meeting room doors, and over 200 motion detection cameras have been placed throughout the space. Refreshing New Design & Fine Art The newly remodeled convention space provides a bright and vibrant atmosphere that complements Mandalay Bay's tropical-inspired brand. Featuring white-washed walls and ceilings adorned with bold floral patterns in cerulean and coral tones, the space is complemented by warm walnut accent walls. In addition to the redesign of all pre-function spaces, meeting rooms and ballrooms, Mandalay Bay's 1 million square feet of exhibit space has undergone a rejuvenation, including new paint, covered pillars and relocated strobe lights. Sustainable Spectacles Mandalay Bay is committed to Focused on What Matters and creating more responsible meetings. Refillable water stations all available around the resort, cutting unnecessary plastic usage from single-use bottles. The Mandalay Bay campus’ recent upgrades represent a bold step forward in redefining the Las Vegas experience. With a focus on innovation, sustainability, and unparalleled service, Mandalay Bay sets a new standard for excellence in business hospitality. Whether you're seeking cutting-edge conference facilities, world-class dining options, or simply a luxurious retreat, an unparalleled meeting experience awaits.