The global exhibition market is expected to return to pre-COVID size by 2023, new projections of AMR International's Globex predict.
Globex 2021 editor Carole Boletti said, "The impact of the COVID crisis has exceeded most expectations, therefore the outlook beyond 2021 remains uncertain to some degree. For 2021, we forecast the market to be valued at $14.8b, still 49% lower than 2019. Looking ahead, AMR forecasts that by 2023, the global exhibition market should rebound to 96% of its 2019 size".
„By 2023, the global exhibition market should rebound to 96% of its 2019 size.“
The recovery projections to 2023 expect that each country will respond to the pandemic differently. Globex anticipates that China will fully recover by 2022 and exceed its 2019 size by 2023. The US market is expected to achieve full recovery by 2023 due to its low exposure to international participants and relatively early resumption of in-person events. Other markets such as France, India and Mexico are forecast to remain slightly below their 2019 size by 2023.
Additionally, the trend towards more digital services provided by exhibition organisers is expected to persist and serve to complement and extend physical exhibitions. Globex believes that digital revenue will grow strongly at 28% CAGR between 2020 and 2023. The 13th edition of Globex – the global exhibition organising market: assessment and outlook to 2023 – has been released by strategy consultancy, AMR International. It details the devastating impact of COVID-19 on 2020/21 and provides market projections to 2023.https://amrinternational.com