The global exhibitions market is set to contract by at least 60% in 2020, according to the latest Globex updated 2020 forecast released strategy consultancy, AMR International.
This forecast is the only analysis that measures the direct impact of Covid-19 on the global exhibitions organising market. AMR’s methodology has focused on three factors – event cancellations, event postponements and the contraction of events. AMR then estimated each of these factors for each quarter and applied this method to all 20* countries covered by Globex – the global exhibitions industry’s annual assessment and forecast.
As the following graph illustrates, the Globex 2019 estimate of market size (based on proforma revenues) was US $29.7bn. As we now look at Q3 2020, AMR expects the market size to drop by US $5.1bn, with the total estimated market size shrinking to approximately US $11.6bn by the end of 2020 – leading to at least a 60% contraction.
Florent Jarry, Head of AMR’s Global Events Practice says, “As the full impact of the crisis continues to unfold, we will revise this Globex forecast in September and release the next full edition of Globex in November, which will include country forecasts for 2021 and beyond. This will help organisers with their strategic planning efforts and investors will have a clearer view of future market opportunities.”
The 20 markets featured in Globex 2019 are: US, China, UK, Germany, France, Italy, Brazil, the Gulf Cooperation Council (GCC), Russia, Hong Kong, Turkey, Mexico, India, Indonesia, Singapore, Thailand, Malaysia, Vietnam, Macau and the Philippines.