UFI Survey Indicates Global Trade Show Growth in 2013
January 21, 2014
UFI, the Global Association of the Exhibition Industry’s recently released 12th Global Barometer survey has some good news to end 2013, with the results indicating overall growth still occurring for most companies worldwide.
Taking into account the results for the past five years, the survey also indicated that a majority of companies in all regions had an increase of their turnover since at least 2011.
In addition, approximately one company out of two had an increase of more than 10 percent for 2013.
“While we shall remain cautious about the development of the global economic situation, the exhibition media continues to demonstrate its strength with growth over the last four years,” said Paul Woodward, UFI managing director.
He added, “The industry remains remarkably dynamic with a majority of companies positively embracing the challenges of new ranges of activity or geographical development.”
These results are in line with the U.S.-based Center for Exhibition Industry Research that indicated slight overall growth for the industry last year, but slowing compared with the previous year.
Asia and the Americas still remain particularly strong, with seven and eight out of 10 companies showing increases this past year, though the second half of 2014 is more conservative in the U.S., with four out of 10 companies expecting increases.
In the Middle East, Africa and Europe last year, six out of 10 companies also saw upticks in growth.
Still, 63 percent of the respondents responded that the impact of the “economic crisis” on their business is not yet over and most of them expect that it won’t be until 2015.
In the meantime, most companies are planning new strategic developments, with 75 percent planning new activities in either the classic range of exhibition activities (venue/organizer/services) or in live or virtual events (or both) and 49 percent planning to expand exhibition operations to new countries.
The 12th Global Barometer survey was conducted in December 2013 and was answered by 178 companies from 57 countries.
Full results of the 12th Global Barometer Survey can be complimentarily downloaded at www.ufi.org/research.
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.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
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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