Good news: increased business optimism points to recovery, according to AIPC
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“Business results are all tending toward the positive and investment – a sign of future confidence – is picking up as well.” Key findings included:
– Total revenue increased worldwide by 3.1% in 2013 and the membership is expecting a solid increase with 4.7% in 2014.
– This revenue growth has exceeded global GDP from 2010 to 2013, but is expected to increase much faster in 2014 relative to a 3.4% worldwide GDP forecast.
– In a clear sign of the gaining strength and optimism in the industry, the percentage of members that say they are experiencing either strong or moderate growth has increased to 79% up from only 52% in 2013.
– An increasing percentage of members also say they expect to see overall revenue growth in 2014 in most of the industry´s core revenue categories including exhibit hall and meeting room rental, food and beverage sales and concessions, as well as event services and AV.
– The number of major capital investment projects such as expansions and renovations are also increasing: 71% of members are planning or developing an expansion, renovation or other significant investment currently up from 62% in the 2013 survey.
– AIPC members see major international and national corporate meetings as the strongest client segment expected over in the near term, followed by association conventions and conferences.
– Africa has the fastest growing revenues, with African members reporting gross centre revenues of 9.2% in 2013 and also forecasting the highest rate of revenue growth in 2014.
