WORLD - The trade fair industry in Asia expanded by 3.8 per cent per cent in 2009 despite a challenging global economic environment, according to the sixth edition of industry association UFI’s annual report on the trade fair market in Asia.
The report, compiled by Business Strategies Group for UFI, shows net space sold by organisers in Asia reached a total of 14.9m sqm last year.
By far the largest overall growth was seen in China, which continues to dominate the Asian exhibition industry. It is the largest market in the region on net space sold, industry revenues, number of exhibitions and number of venues. Year-on-year, net sqm sold in China grew by 6.7 per cent, outperforming the regional average of 3.8 per cent. In total, more than 8.1m sqm were sold in China in 2009, accounting for more than half the 14.9m sqm sold across Asia.
Asia’s second largest market, Japan, continues to lose ground to China. In fact, it was the worst performing market in Asia last year, shrinking by just under four per cent with 1.9m sqm sold.
UFI MD, Vincent Gérard, said: “While the exhibition industry in the US and Europe struggled to find their feet in 2009, Asia posted another year of substantial growth.
“As China grew by nearly seven per cent and the region as a whole grew by 3.8 per cent, it is clear that in 2010 and beyond, the global exhibition industry will be looking to Asia for opportunities to grow existing events as well as launch new ones.”
But while China remains the largest market, one admittedly much smaller Asian market did grow faster last year. Space sold in Macau expanded by 47.5 per cent largely on the back of the resurgence of Macau’s gaming-based economy. However, this increase represents growth from a very low base of 98,000 sqm.
Malaysia and Korea also performed above the regional average, posting growth figures of 4.7 per cent and 3.9 per cent respectively.
UFI Asia/Pacific regional manager and BSG MD, Mark Cochrane, edited the report. “Asia will continue to provide the key platform of growth for the exhibition industry worldwide,” he said. “The growth here has been impressive. In 2004, 8.2m sqm was sold in Asia. Last year, China alone recorded net space sales of 8.2m sqm and over 14.9m sqm was sold across the region.
“By the end of 2010, we expect that figure to reach more than 15.8 million sqm,” he added.
