ITA News
03.04.2009The Fog of Uncertainty
Global economics are in trouble
The forecast of the International Monetary Fund shows a differentiated picture of ups and downs in the global economic scene. The industrialised countries are currently in a deep recession.
The exhibition industry is said to be GDP-driven and related to the purchasing power and the strength of the export business. If it were GDP-driven only, China and India would be the clear winners in 2010.
What will be the impact of the 2009 economic downturn on the European exhibition industry in 2010?
Source: IMF International Monetary Fund, January 2009There are more questions than answers in these days and the fog of uncertainty is widespread. The US Center for Exhibition Industry Research (CEIR) recently published a report on “The Effect of Economic Recessions on Trade Shows”, compiling data from the last four decades. The findings give evidence that key trade visitors continue to attend each year and the percentage of visitors actually having plans to purchase remains high.
Relationship Marketing
Indeed trade fairs, being a prominent means for face to face relationship marketing, are still the best real-time benchmarks for obtaining business solutions. Obviously the leading shows of their sector have significant chances to do much better than the No. 2 or 3 events.
We all know that economy is to 50 % related to the psychology of the involved parties. This saying is attributed to the former German Chancellor Ludwig Erhard, the father of the so called German “Wirtschaftswunder” in the 1960s. This is why there is nothing else left but to focus on the customer, be creative and work hard to turn anxiety into opportunity. And not to forget: The exhibition industry is a visitor-driven one.
