Traditionally, the close cooperation of the European Union has kept Europe as the leader in the trade show industry but now, thanks to a shift in the global economy, a new player is rising in the east.
In the past few decades, some Asian countries, led by China and India have experienced massive economic growth. Such growth has also led to the development of several industries and boosted foreign trade. The purchasing power of the continent has also increased significantly.
In this scenario, Asia has become one of the most potent markets for businesses of all sorts. So, more and more companies are now opting to exhibit in Asia to test the waters, create brand awareness, and boost sales.
The growing exhibition infrastructure has also helped the cause. The Chinese have been the most proactive in this regard. Though it’s still not at par with some of the top European countries, the Asian giants have tactically harnessed the power of technology to reduce the gap. In fact, it was declared as the second most developed country behind Germany in terms of technical achievements in the industry. The Chinese government has also hosted several domestic shows targeted towards specific Industries to promote its domestic trade show industry.
The Philippines has been the second most notable contributor in terms of the development of the industry in this region. In India, the country that houses the world’s second-highest number of people, the trade show industry has grown but it’s still playing catch up with its neighbor to the North. Vietnam and Indonesia along with Japan and South Korea have also played their part.
The global association of Trade show industry, UFI, estimates that more than 20 million meter squares of Booth space were sold in the region and many countries have received massive foreign investments. In the future, the Asian market is expected to grow further and as a business, it is a must for you to consider investing early in order to get a hold of the lucrative promises it offers.
Being global exhibition consultants, we can help you with your booth strategy in Asia.
In the meantime, Happy Exhibiting!