TIME Europe International Travel Service GmbH’s Post

Industry Experts' Forecasts for the Exhibition and Convention Industry.📈 Analysts are optimistic about the future of the exhibition and business tourism industry. A 2022 report by Business Research Insights values the global exhibition, convention, and meeting market at USD 30.88 billion, with a projected CAGR of 3.4% reaching USD 41.76 billion by 2031. Here are some observations from the report: 📌 Factors Hampering Market Growth COVID-19 impact: social distancing norms during the pandemic reduced market share. International travel, seminars, and meetings can be expensive, not affordable for all companies. This is considered a significant factor for the market. Another factor that could hinder market growth is the uncertain and constantly changing geopolitical situation around the world. Various geopolitical scenarios unfolding globally can impact the global market for exhibitions, conventions, and meetings. 📌 Market Growth Drivers Among the factors driving the growth of the exhibition and convention industry are: The increasing number of corporate companies and events is fostering market growth. Digitalization of travel payments. Convenient booking of domestic and international trips, as well as business travel became possible thanks to online platforms and mobile apps. This is encouraging more people to attend events. Source: https://lnkd.in/dMuc2VP9

Exhibition, Convention, And Meeting Market Size, Share, Growth and Industry Analysis by Type (Exhibition, And, Convention & Meeting), By Application (Corporate Organizations, Public Organizations & NGOs, And, Others), Regional Insights, and Forecast To 2031

Exhibition, Convention, And Meeting Market Size, Share, Growth and Industry Analysis by Type (Exhibition, And, Convention & Meeting), By Application (Corporate Organizations, Public Organizations & NGOs, And, Others), Regional Insights, and Forecast To 2031

businessresearchinsights.com

To view or add a comment, sign in

Explore topics