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
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