Convention & Trade Fair Planning in Cyprus - Market Research Report (2014-2029)

Revenue in Europe’s Convention and Trade Show Organisations industry is anticipated to drop at a compound annual rate of 7.2% to €30.4 billion over the five years through 2024. The sink in revenue over the period is predominantly due to the significant damage the COVID-19 outbreak inflicted on the sector, as convention and trade show organisations were shut down temporarily or operated at limited capacity. The industry has weathered unfavourable economic headwinds since the COVID-19 outbreak, as inflationary pressures hit the Eurozone, limiting significant investment into new projects, compounded by lacklustre business sentiment. As a result, convention and trade show organisations' revenue is set to decline by 1.5% in 2024. The industry's key clientele is the commercial enterprises whose participation in events like trade shows and conventions mainly depends on their economic outlook. Private individuals are more likely to attend events during a positive consumer climate. This directly influences the appeal for companies to showcase themselves as exhibitors at trade shows. Inflationary pressures are set to ease over 2024, with promising signs in the latter end of 2023 strengthening business and consumer sentiment to the benefit of the industry.

欧洲会展及贸易展览会组织行业的收入预计将在2024年之前五年内以7.2%的复合年增长率下降，至304亿欧元。在此期间收入下降的主要原因在于COVID-19疫情对该行业的重大破坏，会展及贸易展览会组织被迫临时关闭或以有限容量运营。自COVID-19疫情爆发以来，该行业已抵御了不利的宏观经济波动，通货膨胀压力波及欧元区，限制了新项目的重大投资，加之商业信心的低迷。因此，预计2024年会展及贸易展览会组织的收入将下降1.5%。行业的主要客户群体为商业企业，其参与如贸易展览会和会议等活动的程度主要取决于其经济预期。在消费氛围积极的情况下，私人个体更有可能参加活动。这直接影响着公司在贸易展览会中以参展商身份展示自身的吸引力。预计2024年通货膨胀压力将有所缓解，2023年年末的积极迹象增强了商业和消费者信心，对行业的发展有利。