BSG forecast unprecedented 75% drop in net space sold in 2020

Hong Kong, 28th August: UFI and BSG have released the 16th edition of our annual report on the Trade Fair Industry in Asia. The report, researched and compiled by BSG, the covers actual performance of the industry in 2019, as well as forecasts for the years 2020 and 2021.

BSG estimates that Asia will record an unprecedented 75% drop in net space sold in 2020 compared to 2019 as a result of the COVID-19 pandemic. Net space sold in Asia is expected to fall from the 24.5 million m2 recorded in 2019 down to just 6.8 million m2 in 2020.

This diminished result depends heavily on the trade fair market in China – which now accounts for nearly 60% of net space sold in Asia. If China avoids a large second or third wave of infections, 6.8 million m2 sold across Asia in 2020 is achievable. If China experiences another outbreak and returns to lockdown, the actual results in 2020 will be significantly lower.

In 2021, BSG’s forecast for the Asia Pacific region is net space sold in the range of 50% to 60% of 2019 levels – with China expected to outperform all other markets. In 2021, China is expected achieve 70% to 75% of net space sold in 2019 – barring a significant new outbreak of COVID-19.

The full report is available for purchase on the BSG website. UFI members are entitled to receive an executive summary of the research and to purchase the full report at a substantial discount. Details can be found on the UFI website.