Asia Exhibition Industry Continues a Strong Growth Momentum
July 29, 2015
UFI, the global association of the exhibition industry, has just released the 11th edition of The Trade Fair Industry in Asia.
The report reveals that net space sold in Asia grew by 6.8 percet in 2014.
BSG’s research shows that 18.6 million m2 of space was sold by exhibition organisers to their clients in Asia in 2014.
This represents growth of total net space sold in 2014 of 6.8 percent - rising from 17,453,000 m2 in 2013 to 18,641,750 m2.
The growth is similar to the 6.6 percent recorded in 2013. Of that total, more than 56 percent was sold in China and 11 percent in Japan.
Among the more than 2,100 trade fairs included in the study, more than 600 were held in mainland China, compared with 338 in Japan the second largest market.
Southeast Asia markets performed well once again in 2014. Space sold in Indonesia increased by 9.2 percent, the Philippines by 8.8 percent and Thailand by 8.6 percent.
One of the region’s smallest exhibition markets, Macau, was the top performer in 2014 as net space sold there increased from 143,000 m2 to 197,500 m2. Several of the larger markets also posted above average growth. Space sold in China was up 7.4 percent, India by 7.6 percent, Taiwan by 8.8 percent and Korea by 8.2 percent.
In 2015, BSG is forecasting regional growth in the Asian trade fair industry of 5.2 percent year-on-year measured in terms of net space sales.
Trade fair markets in Southeast Asia are expected to perform well again in 2015 and the market in China is expected to remain resilient.
This research was once again undertaken for UFI by Business Strategies Group (BSG).
UFI members are entitled to receive a four page executive summary of the research and to purchase the full report at a substantial discount. For more information on this study, please contact UFI in Asia at: asia@ufi.org.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
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The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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