The international field of exhibition events is constantly developing and expanding its capabilities, despite the difficulties that have been created by quarantine restrictions. Nauka Expo is the innovative leader in the exhibition industry in Ukraine. We follow international development trends. An experienced team of specialists successfully works at Ukrainian, European, and even world exhibition events.
Trends in the exhibition industry in 2021 that determine its development
The Global Association of the Exhibition Industry (UFI), together with other industry experts, analyzed and identified five key moments in 2021 that set the pace and direction of the exhibition industry around the world for more than a year. Kai Hattendorf, the CEO of UFI, analyzes these developments on the official UFI blog.
Incremental reduction of the pandemic threat
Any difficulties pass with time, so the pandemic will also end sooner or later. While the quarantine restrictions are becoming softer, the exhibition industry is also adapting to them. Business resumes its work, returning to normal mode. Trade and exhibition areas, areas for meetings, and events organized by the exhibition industry play a vital role in the recovery of the world economy. The governments of all large states show their support for the exhibition industry. For example, in Germany, exhibitions are separated from mass events. Visiting them is considered an important trip. In Australia, there is state funding for this industry; in Singapore, the state is helping to revive the business events industry.
The renewal and growth of the exhibition industry
In 2020, due to the pandemic, the international exhibition industry is officially estimated to have lost 70% of its income. Starting with 2021, the industry began to resume. According to forecasts, its growth will continue in the next couple of years. Some businesses quickly emerge from the crisis, others need more time and effort. But according to China’s official research and experience, diverse companies are eager to return to the exhibitions. The existing difficulties and limitations of logistics affect the fact that exhibitions of regional and national scale are resuming in the first place. Trademarks and products travel easier than visitors and target audiences. Exhibitions of a world scale go through globalization and adaptation to local conditions. Exhibition events are successfully held in a safe mode when the established sanitary and epidemiological standards are observed.
Resumption of trade at exhibition events
In 2021, the resumption of trade and trade events at exhibitions began. This revival will continue for the next year or a year and a half. It means real meetings and “live” conversations of sellers with potential buyers, return to offline events and activities after the online format of their holding. Companies are gradually restarting and renewing their business relationships with customers or buyers that have long existed thanks to digital technologies and virtual events. Business events remain relevant and the most effective marketing tool for small and medium businesses. Accordingly, the scale of exhibitions is gradually expanding and their budgets are increasing.
Digital technologies and events
In 2021, the most discussed and relevant topic was “hybridization” – holding mixed online and offline exhibitions. This topic remains relevant and highly discussed, as it develops and becomes more solid. Digital technologies and online events have contributed to the fact that the exhibition industry has remained afloat. The organizers of the exhibitions had to go through a difficult path of high-speed learning the ability to hold “virtual exhibitions”. Over time, this format of events should be abandoned. It is possible to use the format of a hybrid exhibition, which will expand the target audience by creating year-round markets. But to realize this potential, a certain path must be passed.
Achievement of set goals
Although the exhibition industry has suffered losses due to the pandemic and many talented organizers have been left off without work, the set goals will be achieved soon. Corporations and large companies are already looking for professional exhibition organizers, starting to hire them and resuming their core business. It is difficult to maintain business connections and relationships when the world around has changed. International industry communities such as the Exhibition Think Tank Club have become a vital platform for the exhibition industry. As a result, more and more companies, small and medium-sized businesses will participate in exhibition events.
For the international exhibition industry, 2021 has become challenging and unusual. There were losses, but at the same time, several events have opened up new opportunities for the development and prosperity of this industry. Our company Nauka Expo will take full advantage of these opportunities.