Paris and Hong Kong – The exhibition industry in Asia expanded a dramatic 18% in 2007, according to an annual report by UFI, the Global Association of the Exhibition Industry. Net exhibit space sold at Asia trade fairs reached a total of 13.2 million square metres (about 142.1 million square feet).
The report shows that China remains the largest trade fair market by a substantial margin. Over 6.7 million square metres of exhibit space was sold in China in 2007 (about 72.1 million net square feet), accounting for 51% of the total across Asia. China’s revenues from exhibitions climbed 47% from $760 million in 2006 to $1.12 billion last year.
However, India was Asia’s fastest-growing market in 2007, up 50%, followed by South Korea, which grew by 32%.
India’s growth was blazing compared to Japan, the second-largest exhibition market in Asia last year, which posted a modest 1.1% increase in space sold totaling 2.2 million net square metres (about 23.7 million square feet.)
Asian Trade Fair Revenues Reach $3.3 Billion
Revenues from Asian trade shows climbed from $2.6 billion in 2006 to $3.3 billion in 2007. “Asia remains one of the most dynamic areas for growth in our industry,” said Vincent Gerard, managing director of UFI. “It is exciting to see the predicted takeoff in India becoming a reality along with the many other exciting markets in the region.”
Paul Woodward, UFI/Asia Pacific regional manager in Hong Kong and a BSG principal, pointed out that a corresponding increase in the amount of available exhibit space played a major role in the industry’s overall growth in Asia. “In 2003, the region recorded space sales of 5.7 million square metres (about 61.3 million square feet) at 101 venues,” he said. “Last year, the number of venues had surged by more than 50% to 156 venues and sales had more than doubled.”
The report was researched and analyzed by Business Strategies Group (BSG) in Hong Kong.