Asia's Exhibition Sector Grows with Government Support 2023

The global exhibition sector, a key driver of economic growth and cross-border trade, is poised for further expansion in 2024.

Industry stakeholders are formalizing partnerships and collaborating with local governments to enhance event venues and usable spaces. Pamela D. Pascual, Chairman and CEO of World Trade Center Metro Manila, emphasized the crucial role of exhibitions in facilitating trade across various industries.

According to a report by the Union des Foires Internationales (UFI), key markets in Asia, including China, Japan, India, South Korea, and Hong Kong, are expected to surpass 2019 levels of net space sold in 2024.

Exhibition business growth

This growth is significant for the regional economy, as exhibitions contribute to trade receipts and spending.

The Asia Pacific region, ranking third in direct GDP behind North America and Europe, generated US$17.6 billion and supported 394,000 direct jobs in 2019. Pascual highlighted the increasing demand for exhibition spaces, emphasizing the need for government support to allocate land and attract investors for venue construction.

Pascual, along with other World Trade Centers Association members, will serve on the UFI Board of Directors to contribute to the exhibition industry’s development.

The World Trade Centers Association’s 54th annual Global Business Forum in 2024 aims to showcase the economic potential of the region, focusing on business and trade opportunities across diverse industry sectors with the theme “EPIC: Empowering Progress through Innovation & Collaboration.”

“Through our work with UFI, we aim to sustain the growth of the exhibition industry in Asia and to further strengthen the level of professionalism, human capital, and technical expertise in order to serve a larger market,” says Pamela D. Pascual, Chairman and CEO of World Trade Center Metro Manila (WTCMM).