Exhibition and Conference Centres in Australia Industry Market Research Report now updated by IBISWorld
Saturday, 19 May 2012
Demand for exhibitions and conferences was steady over the past five years, albeit with some hiccups during the global economic downturn. Revenue for the Exhibition and Conference Centres industry in Australia is forecast to grow over the five years through 2011-12, backed by good business confidence. However, growth is likely to be slow over 2011-12 due to lower business confidence stemming from interest rate rises. For these reasons, industry research firm IBISWorld has updated its report on the Exhibition and Conference Centres industry in Australia.
Melbourne, Australia (PRWEB) May 20, 2012
The Exhibition and Conference Centres industry includes revenue generated by venues that hold conferences, exhibitions and other business events, such as corporate meetings. According to IBISWorld industry analyst Aries Nuguid, “Demand for exhibitions and conferences was steady over the past five years, albeit with some hiccups during the global economic downturn”. Industry revenue is forecast to grow by an annualised 1.0% over the five years through 2011-12 to reach $13.6 billion, backed by good business confidence. Industry revenue is expected to grow slowly at 0.4% over 2011-12 due to lower business confidence stemming from interest rate rises. Profitability suffered during the crisis, mainly due to high fixed costs during periods of low demand. Industry firms are estimated to have widened profit margins in 2011-12 as the Australian economy recovered from the global downturn. Private venues also experienced a rise in profitability due to higher capacity utilisation and recovered demand.
Economic conditions are expected to be more stable over the next five years. Industry revenue is forecast to grow on average 2.1% per annum over the five years through 2016-17 to reach $15.1 billion. Higher business numbers and international delegate representation will support demand. “In particular, consumer and business sentiment will increase early in the five-year outlook”, Nuguid adds. However, there are several challenges ahead, including the technological innovation and poor global competitiveness, which will mitigate long-term revenue growth.
There are a wide variety of companies in the Exhibition and Conference Centres industry and no single organisation dominates industry revenue. As such, the industry is deemed to have a low level of market share concentration. Concentration levels have increased over the past decade, mainly due to hotel chains adding smaller hotels to their portfolios. This trend is expected to persist over the next five years but it is unlikely that the concentration level will change. The four largest companies in the industry are AEG Ogden, Accor Hotels, Melbourne Convention and Exhibition Trust, and IHG Hotels Management.
For more information, visit IBISWorld’s Exhibition and Conference Centres report in Australia industry page.
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IBISWorld industry Report Key Topics
This industry includes companies involved in organising and hosting exhibitions and conferences. Industry revenue comes from venues (for example, convention centres and hotels) that are hired for events. Revenue also comes from event organisers and is typically generated from venue hire, registration fees, food and beverage, and accommodation.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.