Struggling Trade Shows Impact Entire Hospitality Sector

Editor’s Note: When the original video script recorded, the Javits Center had only 17 trade shows listed on their webpage. Since then, that number has risen to 28.

The Javits Center in New York hosts thousands of companies a year for shows. But 2022 outlook is bleak; as of now, there are only 28 shows listed for 2022. Compare that with the usual 175 shows, and the picture becomes pretty clear: trade shows haven’t locked in their rebound.

Major trade events are smaller this year and attracting fewer attendees, and it’s keeping value low. After a dip in 2020, PwC and MarketingCharts predicts the market size won’t come close to 2019 numbers—11.2 billion dollars for 2022 compared to 2019’s 15.58 billion.

This creates a domino effect. Business travel has been stumbling since 2020 and large trade shows can be a big tourism bump for cities. There’s some optimism for a rebound in the new year with less travel bands, but it won’t be a complete return to form. After the U.S. Travel Association reported a peak 464 million domestic business trips in 2019, 2022 is only forecasted to reach 395 million trips.

“The causation really isn’t the desire to have the trade shows, but it’s staffing their current demands,” said Gary Morris, CEO & Founder of Successful Channels. “I think 2022 we will see some resurgence in that regard as well, we will see some employment begin at some point to take a rise here.”

Without consistent mass bookings from trade shows, cities will look for answers on how to rebound their hotels and even centers.

“Hopefully hotels are using this as a time to rethink how they may be attracting travelers, what else they can do in the beautiful convention spaces,” said Sarah Dandashy, Host of Say Yes to Travel.

Some high-profile trade shows still pull a crowd, but attendance numbers signal a continued plateau overall. For niche trade events, does this mean they’ll need to pivot marketing strategies to increase attendance?

“Different trade show events that are not happening, they should be communicating with those people as to why they’re not happening and figure out if there’s a way for them to facilitate those needs. And if there’s potential for blending different trade shows on a smaller scale at the same event to lower the cost,” Morris said.

Businesses are ready to spend more on creative marketing, but where to spend that money, especially as it relates to trade show budgets, remains volatile.

Follow us on social media for the latest updates in B2B!

Image

Latest

grid expansion
Voices of ChargeExpo 2024: Lilypad EV Unites Grid Expansion with EV Charging for a Better User Experience
March 27, 2024

At ChargeExpo 2024, a pivotal discussion unfolded, shedding light on the integral relationship between grid expansion and the future of electric vehicle (EV) charging infrastructure. As electric vehicles continue to surge in popularity, the spotlight has turned to the supporting infrastructure, underscoring a critical challenge: the need for significant grid expansion to accommodate the […]

Read More
advanced battery technologies
Empowering a Greener Tomorrow: The Urgent Need for Enhanced Safety Protocols in the Electric Vehicles and Advanced Battery Technologies Sector
March 26, 2024

As the world gravitates toward cleaner energy solutions, electric vehicles (EVs) and advanced battery technologies stand at the forefront of this transformative journey. The shift towards electrification underscores a global commitment to reducing carbon emissions, with the EV market experiencing unprecedented growth​​. Innovations in battery technology, crucial for extending EV range and reducing costs, […]

Read More
Grid modernization
Grid Modernization is Bringing Utilities and Internet Providers to the Table. How Will Collaboration Shape the Grid?
March 26, 2024

The power grid is in for an exciting era of improvement as it embraces Industry 4.0 and mass digitalization. That doesn’t mean modernization isn’t a tough ride. As the grid grapples with blackouts and shut-offs, one thing is clear: The U.S. needs to modernize its aging grid and embrace technologies that make better use […]

Read More
Leverage AR & VR Technologies to Deepen Fan Engagement & Unlock Real-Time Marketing and Revenue Opportunities in Sports
March 26, 2024

Augmented reality (AR) and virtual reality (VR) technologies are opening up novel ways to enhance the fan experience, both in stadiums and from the comfort of one’s home. The release of Apple Vision Pro AR VR headsets has sparked debate on their potential impact on live sporting events. Critics question whether fans engrossed in […]

Read More