Asian Markets Continue to Expand
-- Tradeshow Week, 7/7/2008
The Asian tradeshow market continued to grow by leaps and bounds in 2007 in both net square footage and revenue, according to the fourth edition of UFI's annual report on the tradeshow market in Asia. UFI, The Global Assn. of the Exhibition Industry also reported substantial growth in many of the region's largest markets, including China, India, Japan and South Korea.
“The publication of the fourth edition of this report is an important contribution to UFI's global research efforts,” said Vincent Gerard, managing director for UFI. “It shows that Asia remains one of the most dynamic areas for growth in our industry.”
In net exhibition space sold, the region saw overall growth of 18 percent, reaching nearly 13.2 million square meters (142.08 million square feet), compared with 11.2 million sq. m. (120.5 million sq. ft.) sold in 2006. Revenues for Asian show organizers also increased significantly, reaching $3.25 billion in 2007, a 26.5-percent increase, compared with the $2.57 billion earned in 2006.
“In the last five years, we have seen the trade fair industry undergo a remarkable transformation,” said Paul Woodward, UFI Asia/Pacific regional manager and principal with Business Strategies Group, researchers, analyzers and editors of the survey. “In 2003, the region recorded space sales of 5.7 million sq. m. (61.35 million sq. ft.) at 101 venues. Last year, the number of venues had surged by more than 50 percent to 156 venues, and sales had more than doubled to 13.2 million sq. m. (142.08 million sq. ft.).”
China remained the largest Asian market, growing by 21 percent. More than 6.7 million sq. m. (72.12 million sq. ft.) of space was sold, giving it a 51-percent share of the Asian market, up from 45 percent in 2006. Revenue in China also increased exponentially, with a 47-percent increase from $760 million in 2006 to $1.12 billion this year.
India, which according to UFI was Asia's fastest-growing market in 2007, grew by 50 percent, followed by South Korea, which grew by 32 percent. Japan, Asia's second largest market, grew by only 1 percent, with sales of 2.2 million sq. m. (23.68 million sq. ft.).
“It is exciting to see the predicted take-off in India becoming a reality along with the many other exciting markets in the region,” Gerard said.
The annual report covers the development of tradeshows and their supporting facilities, as well as market performance, forecasts and key trend commentaries for 15 markets throughout Asia.
