AUSTRALIA SET FOR GOOD YEAR

THE Exhibition and Event Association of Australasia (EEAA) has welcomed Australia’s inclusion in the 20th Global Exhibition Barometer by The Global Association of the Exhibition Industry (UFI).

The report found Australia was one of the optimistic business event markets surveyed.

Just over 40% of Australian event companies also expect to see strong growth in their operating profit by 10%.

Australia was one of the more cautious markets, compared to Europe on 50% and the rest of the Asia Pacific on 44%.

EEAA chief exec Joyce DiMascio said the study highlighted a strong year ahead for Australia.

“Suppliers are very positive about 2018 with a wide-range of new shows to be launched across new industry sectors.”

This marks the first time Australia has been included on the global report and follows an MoU signed between the EEAA and UFI in Sep (BEN 21 Sep).

The findings also showed that 29% of Australian MICE businesses reported the state of the economy to be the most important issue facing the industry, followed by 26% concerned with competition from within the sector.

Both of those findings were above the global average, which UFI says was attributed to the country’s geographic isolation.

UFI research manager Christian Druart said despite the isolation, Australians looked to internationalise their businesses.

“Three out of every ten Australian companies participating in the research state that they want to operate in new countries and markets.”

Brazil, the UK, Italy, USA, South Africa and China were among others included in the survey.

Pictured is UFI ceo Kai Hattendorf and EEAA chief exec Joyce DiMasico after signing their MoU in Sep.