UFI: exhibition industry revenues drop 68% in 2020

Paris, 4th February: Earlier this month, UFI, The Global Association of the Exhibition Industry, released an updated COVID-19 damage assessment for the global exhibition and trade show industry. Based on the results of the latest edition of its UFI Global Exhibition Barometer, revenues for the global exhibition industry in 2020 dropped 68% compared with 2019.

It is estimated that more than €200 billion (US$224 billion) of total exhibition-related output was lost in 2020, affecting 2.4 million full-time jobs. About €330 billion (US$370 billion) of business volume was lost from exhibiting companies using face-to-face events to generate business.

RELX’s exhibitions revenues drop 69%

London, 11th February: Last week, RELX Group plc, parent company of Reed Exhibitions, released its financial results for 2020. Underlying revenues in RELX’s exhibition business dropped 69% to £362 million (US$493 million).

The underlying operating loss for the year was £164 million (US$224 million). According to the company, its exhibition business had a good start to the year, however by mid-March the COVID-19 pandemic closed many exhibition venues globally.

Outside of Asia, no significant face-to-face events have taken place since then. The company has been able to hold physical events in China since June 2020, and in Japan beginning in August. Some events in other countries began in the second half of the year.

BOL’s profits up 24% in 2020

Bangkok, 11th February: Business Online (BOL), a leading online information service provider in Thailand, announced that it recorded revenues of US$21 million for the year ended 31st December 2020, representing a 17% year-on-year increase. BOL’s net profit for the year grew 24%, reaching US$6.0 million. Diluted earnings per share in 2020 were THB 0.22 (US$0.0073).

More than 95% of BOL’s revenues were generated from its service business, amounting to US$20 million. This business increased by 17% year-on-year. The remaining revenues were generated from dividend income (US$880,000) and “other income” (US$92,000).

Quick takes

IATA health passport gains traction

Approximately 20 airlines have agreed with IATA that they will begin using the IATA app that allows passengers to securely store and share their vaccine and test records needed to travel internationally. IATA says it is in talks with 30 to 40 other carriers.

Michael Duck’s update on the Asian market

Exhibition World interviews industry veteran Michael Duck. He offers a thorough overview of the state of the industry in Asia. He looks back at the 2003 SARS outbreak and compares it with the current pandemic and sees pent-up demand waiting for us on the other side of COVID-19.

Jim Rogers on the future of India, Japan and inflation outlook

He is not always correct, but Jim Rogers’ views are worth a look. This time he is surprisingly upbeat about India, although he sees decades of doom and gloom for Japan. He also predicts inflation ahead and a stronger U.S. dollar. And perhaps his most audacious (ridiculous) call: he likes Russia in the decade ahead. Good luck with that.

Malaysia and Indonesia to open travel bubble

Neither Malaysia nor Indonesia have COVID-19 particularly well under control, but the two countries have decided to press ahead with a travel bubble. The move is being welcomed by local industry associations.

U.K. considers rapid testing for mass gatherings

The U.K. is considering deploying rapid COVID-19 testing in order to allow mass gatherings to resume later this year. Hopefully, markets in Asia will take notice of this and consider it as a viable path to return to allowing business events.

Share price movement in B2B media companies involved in Asia

Figure 1: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement over past 12 months)

Figure 2: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement since January 2021)

India allows all exhibitions to go ahead under new COVID guidelines

India, 28th January: The Government of India relaxed its restrictions under the new COVID-19 guidelines, allowing all kinds of exhibitions to be held anywhere in the country. Prior to this announcement, only B2B exhibitions were permitted.

The new guidelines take effect on 1st February. In addition to exhibitions, the government will also now allow swimming pools and cinemas to operate at 50% capacity.

Quick takes

Informa holds two events in Japan in January

Tokyo Big Sight hosted two of Informa Markets’ B2B exhibitions in January. In addition, Tokyo issued new anti-COVID guidelines for business event organisers.

Alibaba earnings call sidesteps Jack and Ant issues

Group CEO Daniel Zhang was careful to avoid discussing the company’s regulatory issues, Jack Ma and the delayed Ant Group IPO.

Thailand hopes to attract just five million tourists in 2021

It is going to be another difficult year all across Asia. Thailand’s tourism chief will consider 2021 a success if the country attracts five million tourists. In 2019, nearly 40 million holidaymakers visited the Kingdom.

Visitors to Singapore down 85% in 2020, green lanes closed

Singapore recorded just 2.74 million visitors in 2020. That is down 86% compared to the previous year. Notably, the majority of those visitors arrived in January and February 2020. In addition, Singapore has suspended reciprocal green lane arrangements with Malaysia, South Korea and Germany for at least three months.

Quick takes

Vaccine passports – A summary of the current situation

This is a decent summary of where we stand on so-called vaccine passports. It is a crucial issue because if vaccination does not lead to quarantine-free travel, a great many industries and economies will be in even more serious trouble.

Tarsus Group acquires a Mexican event

Not all M&A activity has come to a complete halt.  Tarsus Group has acquired a majority stake in Expo Tendero – a Mexican event launched in 2019. The event is focused on the tenderos niche – corner grocery shops common throughout Mexico.

ExpoPlatform hires Informa’s former digital VP

Hybrid and virtual events continue to attract attention and investment. Luke Bilton makes the move from Informa Markets, where he was VP for digital, to ExpoPlatform, a SaaS-based event platform used to create and manage online events.

Ant Financial valuation drops, Jack reappears

A short article on the expected valuation of Ant Financial. Bloomberg suggests that the valuation could fall from the original US$250 billion to US$108 billion when the IPO eventually goes ahead. In addition, two articles on Jack Ma’s reappearance and his on-going political predicament.