US B2B exhibitions industry expected to be back to 2019 levels by the end of 2023

Cathy Breden， EVP/COO of International Association of Exhibitions and Events（IAEE）， tells the reporter that the B2B exhibitions industry in the U.S.， just like in other countries， has been severely impacted by COVID-19， and just as the industry is re-opening the Delta Variant is requiring organizers to re-think their health and safety protocols. She reveals that uncertainty around COVID-19， as well as the inability of exhibitors and visitors to get into the U.S. has caused approximately 91.3% of shows scheduled in the first quarter of 2021 to cancel. Cancellations dropped to 75% in the second quarter and CEIR expects cancellations to decline further in the third and fourth quarters. In 2019， the industry contributed $101 billion USD （approximately $655 billion RMB） to U.S. GDP and in 2020 experienced a loss of$77 billion USD （approximately $45 billion RMB）. While it is still too early to forecast the outcome of 2021， according to the Center for Exhibition Industry Research （CEIR）， the B2B exhibitions industry is forecast to be down by 58.3% over 2019 and by the end of 2023 to be back to 2019 levels. “Truly， the current challenge is to get COVID-19 under control so the exhibitions industry can get back to business！” Breden says.

Concretely promoting Chinese-US exhibition industry cooperation

The International Association of Exhibitions and Events （IAEE） is a global not-for-profit trade association with members in 50 countries. The association primarily provides education and professional development to its global membership. There are a number of resources including guidelines for safely holding an exhibition， informal online meet ups for different niche groups to share with one another what is working and what is not， webinars， a year-round marketplace- MarketHub - a Career Center providing resources for those new to the industry， IAEEs Expo！ Expo！ （offered both in-person and digitally now）， and more. In terms of bilateral communication， many years ago， IAEE licensed the Certified in Exhibition Management （CEM？） program to the China Council for the Promotion of International Trade （CCPIT） and there are well over 1，000 professionals with the CEM credential in China. IAEE has recently created the IAEE China Council with executive-level exhibition organizers who will provide guidance to IAEE on its activities in China. “IAEE has a WeChat group those interested in learning more may join.” Breden adds gladly.

Exhibitions can be safely held through controlled environments

Currently， IAEE participates in the Exhibitions and Conferences Alliance （ECA） an organization who is communicating to Federal legislators in Washington， DC on the need for financial assistance to help the industry recover. According to Breden， the government does not regulate the industry， except during this unique period of time， when there may be mandates for people to wear masks， requirements for social distancing， or even prohibiting large events from being held. ECA has been advocating to legislators that exhibitions can be safely held through controlled environments， unlike a live concert， for instance.

No state-owned exhibitions in the US

As a regular speaker in Chinese exhibition forums， Breden observes that the biggest difference between the U.S. and China exhibitions industry is that in the U.S. there are no state-owned exhibitions. All the exhibitions are owned and/or produced by private-owned organizations； either not-forprofit associations （NGOs） or independent， for-profit companies. The venues also do not own their own events.

The other noticeable difference is the number of venues and the size of them. In the U.S. there are just a few cities that can host very large exhibitions – including， Orange County Convention Center in Orlando Florida； Georgia World Congress Center in Atlanta， Georgia； The Javits Center in New York； Las Vegas Convention Center in Las Vegas， Nevada； McCormick Place in Chicago， Illinois； Los Angeles Convention Center in Los Angeles， California. “The government in China invest in the centers， whereas here in the U.S. the funding for most venues comes through bonds and taxes raised， with some of the bonds having to be voted on in local elections by citizens.” she tells the reporter.

A digital strategy has become imperative

Breden sees that exhibitions， regardless of where they are held in the world， have been produced the same way for decades. This has forever changed. A confluence of factors， including COVID-19 has accelerated change. Corporations are using a multichannel approach to conducting business， with one of the tactics， in addition to exhibitions， being digital. In the U.S.， young people spend 10.6 hours a day online， they seek out collaborative and interactive environments， and they expect the seamless， personalized content. This has huge ramifications to exhibitions. Digitalization has been a buzz word for years now. “It is now imperative to have a digital strategy for both companies overall， and the exhibitions they produce.”Breden concludes.