Global Industry Performance Review Focuses on China, Digital Revolution
May 27, 2021
The growth of the Chinese trade show market is imminent and could mean big things for the global exhibitions industry. That is among the key takeaways from the comprehensive Global Industry Performance Review, which is now available for order.
With the pandemic on its heels as countries re-emerge, the United States and China appear to be in the best shape economically. The result is the industries already on the rebound have resumed plans for in-person trade shows and conferences, which is music to the ears of destinations announcing the resumption of large-scale gatherings at convention centers and other venues. Boston, Detroit and Atlantic City are among the most recent U.S. hubs to announce post-pandemic plans.
Meanwhile, on the other side of the world, earth-shattering expansion is on the horizon. The GIPR notes 18 venues are already under construction in China with another 19 in the works. “China is set to become the largest consumer market in the world with ever-increasing purchasing power — a favorable basis for the exhibition business,” the report predicts.
The construction is a sign of the growing maturity of the market, which so far is heavily invested in three major Eastern blocks, including Beijing. “The venue expansion opens up big time,” said Jochen Witt, president and CEO of the consultancy firm jwc, which published the GIPR. “It opens a lot of opportunities for event organizers.”
But three of the country’s largest shows were recently on the country’s other coast, an indication of where exhibitions are headed. Jochen, the former president of UFI, the Global Association of the Exhibition Industry, noted that 90% of Chinese trade shows are relatively small in scale but the country’s industry is benefiting from international trade show organizers operating with greater frequency there.
So important is China’s continued success that the GIPR for the first time dedicated an entire section to it. Not only that, the section takes up 60 pages of the full report, about the same amount as the emerging technological advancement occurring as a result of the pandemic.
In regard to the hybrid evolution, Witt stressed a new mindset must be adopted in creating a 365-day approach to engaging event communities. “Forget direct monetizing of an online event,” he said. “That’s the wrong direction.” Rather, he said, digital activities should be viewed holistically as avenues to reach out to customers via content, new products and more.
To order the full GPIR, click here.
Don’t miss any event-related news: Sign up for our weekly e-newsletter HERE and engage with us on Twitter, Facebook, LinkedIn and Instagram!
Partner Voices
HERE, hosting responsible meetings and caring for our communities are top priorities. Through its 'Focused on What Matters: Embracing Humanity and Protecting the Planet' philosophy, MGM Resorts commits to creating a more sustainable future, while striving to make an impact in the lives of employees, guests, and the communities in which it operates.
Water Stewardship Efforts
MGM Resorts understands the importance of using water efficiently, especially in the desert destination of Las Vegas. Conserving water has always been part of the mission, but MGM Resorts has expanded its ambition into water stewardship.
In 2022, MGM Resorts President and CEO Bill Hornbuckle signed the CEO Water Mandate—a UN Global Compact initiative mobilizing business leaders to advance water stewardship. MGM Resorts International was the first gaming company to take this important step.
MGM Resorts replaced 200,000 square feet of real grass with drought-tolerant landscaping in Las Vegas.
MGM Resorts pledges to reduce water withdrawal intensity by 33% by 2025 and by 35% by 2030.
From 2007-2021, use of more than 5.6 billion gallons of water was avoided because of conservation efforts.
Caring for One Another
MGM Resorts’ Food Donations Program collects and preserves unserved food from conventions held at MGM Resorts properties, then safely donates to food insecure people in the community. Since the program’s launch in 2016, more than 3.7 million meals toward a 2025 goal of 5 million meals have been donated into the community. Donations include:
Unserved perishable prepared foods from events
Perishable unprepared food from MGM Resorts’ kitchens
Nonperishable food items from minibars and warehouses
The collaboration with Southern Nevada’s primary food bank, Three Square, has developed the infrastructure needed to safely collect, transport, and store food from MGM Resorts properties in Las Vegas, reducing food waste while serving the community.
Fostering Diversity and 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 understands its responsibility to contribute to the social and economic progress of the communities in which it operates. HERE, we embrace humanity.
Add new comment