UFI's 9th Global Barometer Survey Indicates Stability in Trade Show Industry
July 10, 2012
UFI, The Global Association of the Exhibition Industry’s 9th Global Barometer Survey that was conducted in June indicates, while the global economy still seems to be struggling, the trade show industry has remained on a stable path through the recession.
In the past three years, on average, six out of 10 companies that were surveyed indicated they had increase in their turnover.
Depending on the region, almost 40 percent of surveyed companies registered an increase in annual profits of more than 10 percent, which has been a relatively stable growth for the past three years.
As predicted in an earlier UFI Global Barometer Survey, though, turnover in the Asia/Pacific region and the Americas has slowed down recently.
The majority of the survey respondents said their business had been impacted negatively by the “economic crisis”, though almost half of them believe that will end by the middle of 2013.
Paul Woodward, UFI’s managing director, said, “Apparently, our industry is more conservative in their outlook than the results would show to be true. The results of our most recent Global Barometer survey confirm that our exhibition media continues to outperform expectations, despite the tough economic environment.”
Members of not only UFI, but also the Society of Independent Show Organizers, the Asociacion International de Ferias de America and the Exhibition Association of South Africa were surveyed for the semiannual report.
As in previous UFI Global Barometer Surveys, companies were asked to identify the three most important issues they were facing.
Twenty-four percent of those surveyed said they were worried about the state of the national/regional economy, 22 percent were concerned with the overall global economy and 18 percent said one of their top issues was local/national competition within the trade show industry.
The survey was answered by 221 respondents from 61 countries. The next UFI Global Barometer Survey will be conducted in December.
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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