Axing of live events hits 0.3% low – report
US B2B exhibitions continue to regain strength as the in-person cancellations rate dropped to a 0.3% low in Q1 2023, according to a new report.?
Findings from the CEIR - Center for Exhibition Industry Research 's study also suggest the industry is on track to make a full recovery by 2024.
Other stories from our latest events industry roundup include:
?? RX UK names new president
?? GL events’ exhibition rebound supports revenue growth?
?? MCI highlights sustainability achievements in new report
?? EMECA and UFI agree to boost cooperation
Create high-value events that neither your exhibitors nor your attendees will ever cancel ?? Learn how you can do so with a?Hosted Buyer programme .
Read on for your full Week in Events roundup ??
In-person event cancellations in the US drop to a three-year low
The US B2B exhibition industry’s recovery momentum continues as cancellations for live events dropped to 0.3%, according to a new study.
Stats released in the CEIR’s latest index report reveal a dramatic drop in?Q1 cancellations compared to 90.1% in Q1 2021 and 8.9% in Q1 2022.
Allen Shaw , CEIR economist, said: “The positive momentum of participation in face-to-face trade shows will continue.
“Widespread B2B exhibition cancellation is a thing of the past except for permanent closure of shows, and the performance of completed events will continue to improve.”
He added: “Greater numbers of foreign participants will support additional recovery of volume of attendance and exhibitors.
“A full recovery for the industry is expected in 2024.”
The CEIR Total Index – an indicator of overall exhibition performance – jumped 42.7% during Q1 from last year, showing more completed events, greater attendee and exhibitor participation and an increase in real revenue, .
RX UK announces new president
励展博览集团 has appointed a new CEO for its UK division.
Rachel Travers , managing director at LexisNexis New Zealand , will assume the role from September 1.
Her responsibilities will include driving leadership as well as delivery execution of the RX UK Hub business unit to boost customer value and market expansion.
The UK arm of RX covers the UK, Middle East, Turkey, South Africa and India.
RX Global CEO Hugh Jones , said: “Rachel is a highly motivated and experienced senior executive, used to managing operations in both domestic and international markets and in complex business environments.
“She is a skilled team leader and in her three years at Law360 she delivered double digit growth with consistently high NPS and EOS scores.”
Rachel added: “I am excited to be joining RX and its amazing group of talented leaders and people at this transformational time for the company.
“The company’s mission is to build businesses and I’m looking forward to finding data-driven solutions for our customers that deliver genuine business value and growth, along with delivering market-leading technology to them.”
GL events posts strong H1 growth on exhibitions rebound
GL events ’ revenue jumped 32% yearly in the first six months of 2023 with a strong performance by its exhibitions division.
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The H1 revenue stood at €690.2million (￡597m), while its net profit grew 143% year-on-year (y-o-y) to €40.9mn (￡35.4m).
Revenue from exhibitions nearly doubled to €143.6m (￡124.2m), growing +97% y-o-y on account of a favourable biennial effect and a rebound in activity in China.
Olivier Ginon , GL events group chairman, said: “GL events’ strong momentum remains on track with revenue up 32% in the first half, driven by its strategy of combining the strengths of its three business divisions to provide an integrated offering: Live, Venues and Exhibitions.
“Meanwhile, as we expected, all our markets are returning to growth, in particular China, which enjoyed a very robust second quarter, and the Americas, with particularly good performances in Brazil and Chile.”
Several major contracts in sporting contributed to the growth – such as the Roland Garros French Tennis Open and the Monte Carlo Rolex Tennis Masters tournament, motor racing with the Monaco Formula 1 Grand Prix.
The group also benefited from the return of high-key international events such as the Cannes Film Festival and the Paris Air Show, as well as corporate shows like the Dassault Systèmes Business Convention and the Christian Dior Homme & Haute Couture fashion shows.
Olivier added: “This good first-half performance has allowed us to raise our target for growth in sales from 5% to 8% in 2023. In response, our operating margin will also continue to improve.
“We are accelerating the pace of our investments in the future while maintaining our objectives to reduce gross debt.
“Looking to the future, GL events continues to invent sustainable worlds for the event industry, reflecting the ambitious ESG policy underpinning its strategy and commitments.”
MCI outlines sustainability achievements in new report
The mci-group launched 80 sustainability projects during of 2022, according to its new report.
Highlights from the group’s green commitments come as part of efforts towards the global Net Zero Carbon Events initiative and also being part of the Operations and Food & Food Waste task forces.
Sebastien Tondeur , mci group Chief Executive Officer, said: “Being genuinely sustainable isn’t just about making the best possible choices while working with our clients.
“It’s about ensuring every action we take betters us as a group and enables others to have better opportunities for themselves.”
Here are the key highlights:
The full report can be accessed?here .
EMECA and UFI agree to strengthen collaboration
Leading exhibition associations EMECA European Major Exhibition Centres Association and UFI, The Global Association of the Exhibition Industry intend to continue cooperation to deal with challenges faced by the business events industry.
The two groups plan to share more information, best practices and resources to make exhibitions and events more robust.
As part of their cooperation, EMECA and UFI have advocated new ideas and solutions to the European Exhibition Industry Alliance since 2012.
EMECA president Roland Bleinroth said: “The ongoing uncertainty about the energy supply and its costs as well as overall inflation and the still not fully resolved disruption of supply chains has an impact on the planning and execution of trade fairs and events worldwide.”
UFI president Michael Duck said: “Given the changing global landscape, it is vital that the exhibition and events industry works together to address the new challenges and strengthen the exhibition and events industry as a key driver for business and innovation.”
The associations have also cooperated for sustainability, partnering with the Joint Meetings Industry Council for its Net Zero Carbon Events initiative.
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