1、ECONOMIC IMPACT OF EXHIBITIONS IN THAILAND2019W W W.O X F O R D E C O N O M I C S.C O MPrepared for:Thai Exhibition Association2TABLE OF CONTENTSTABLE OF CONTENTSExecutive summary3Section 1:Exhibitions volume and direct spending8Section 2:Economic impact of exhibitions12Section 3:Methods16EXECUTIVE

2、SUMMARY4To quantify the economic significance of the global exhibition industry,Oxford Economics has prepared a comprehensive model of global exhibitions activity that references recent studies on their economic significance.The results were part of the study,“Global Economic Impact of Exhibitions”,

3、which was released in April 2019 and showed the scope of the global exhibition sector in terms of direct spending and jobs,as well as the total impacts of exhibitions in the broader economy.As part of this analysis,Oxford Economics took the following steps:Analysed existing data on exhibitions maint

4、ained by UFI,including net square meters sold,visitors,and exhibitors;Analysed historic data on the exhibition industry maintained by UFI and referenced published studies on exhibition impacts in 13 countries,as well as third-party industry data across more than 180 countries;Developed an econometri

5、c model of the relationship between economic and travel-industry data sets and exhibition industry impacts to estimate exhibition activity in countries in which the exhibition industry has not been previously quantified;andCombined the results of existing studies and modeled relationships to prepare

6、 global estimates.Previous country-level analyses of exhibitions activity accounted for more than three-quarters of the estimated global total,providing a solid research foundation.Executive SummaryBased on the country-level modeling in the global economic impact analysis released in April 2019,Oxfo

7、rd Economics is compiling country profile reports on the impacts of the exhibition industry.This document presents key elements of the research and findings for the exhibition industry in Thailand.The report is organized in the following sections:Exhibition industry metrics and direct spending Econo

8、mic impact analysisMethods1 12 23 34 45What qualifies as an exhibition?UFI follows the ISO 25639-1:2008(E/F)definitions which are also adopted here.For the purposes of this study,an exhibition,show,or fair is an event in which products,services,or information are displayed and disseminated.Exhibitio

9、ns differ from“conferences”,“conventions”or“seminars”,or other business and consumer events.Exhibitions exclude flea markets and street markets.Exhibitions include:Trade exhibitions:exhibitions that promotes trade and commerce and are attended primarily by trade visitors.A trade exhibition can be op

10、ened to the public at specific times.Public exhibitions:exhibitions open primarily to general public visitors.A public exhibition is sometimes also known as a consumer show.What are the main components of economic impact?Direct impacts consist of the direct spending and jobs that are directly involv

11、ed in planning and producing exhibitions,and for participants and exhibitors to travel to exhibitions,as well as other exhibition-related spending.Indirect impacts represent downstream supplier industry impacts,also referred to as supply chain impacts.For example,the facilities at which exhibitions

12、occur require inputs such as energy and food ingredients.Also,many exhibition venues contract with specialised service providers,such as marketing,equipment upkeep,cleaning,technology support,accounting,and legal and financial services.These are examples of indirect impacts.Induced impacts occur as

13、employees spend their wages and salaries in the broader economy.For example,as hotel employees spend money on rent,transportation,food and beverage,and entertainment.Impacts are expressed in terms of economic output,which includes all business sales,GDP(gross domestic product),which is defined as bu

14、siness sales less intermediate inputs,and jobs.Executive Summary6Direct impacts of exhibitions in Thailand(2019)UFI follows the ISO 25639-1:2008(E/F)definitions which are also adopted here.For the purposes of this study,an exhibition,show,or fair is an event in which products,services,or information

15、 are displayed and disseminated.Exhibitions differ from“conferences”,“conventions”or“seminars”,or other business and consumer events.Exhibitions exclude flea markets and street markets.Exhibitions include:Based on data provided by the Thai Exhibition Association(TEA),the Thailand exhibition industry

16、 rented more than 1.03 million net square meters(nsm)of exhibition space in 2019,including 0.51 million nsm for business-to-business exhibitions and 0.52 million nsm for business-to-consumer exhibitions.Direct spending(business sales):Exhibitions generated$0.87 billion of direct spending by visitors

17、,exhibitors and additional exhibitions-related expenditures.Direct GDP(gross domestic product)and employment:Exhibitions supported more than 18,000 direct jobs in Thailand and generated$0.59 billion of direct GDP.Total impacts of exhibitions in Thailand(2019)After accounting for indirect and induced

18、 impacts,exhibitions in Thailand supported a total economic impact in 2019 of:$2.00 billion of total output(business sales)30,100 total jobs$1.28 billion of total GDP(representing 0.2%contribution to Thailands gross domestic product)Based on a total economic impact of$2.00 billion and a total of 0.2

19、5 million sqm of capacity in Thailand(as reported in UFIs World Map of Venues),total output per sqm of capacity amounted to approximately$7,900 in 2019.Executive Summary7Economic impacts of exhibitions in Thailand(2019)18,100Direct jobsJobs directly supported by Thailands exhibition industry$0.59 bi

20、llionGross domestic product or value addedDirect GDP(value added)DIRECT IMPACTS(2019)$0.87 billionrepresenting spending to plan and produce exhibitions,exhibitions-related travel,and other direct spending,such as spending by visitors and exhibitorsDirect tourism spending$2.00 billionincluding direct

21、,indirect,and induced outputTotal output(business sales)$1.28 billionincluding direct,indirect,and induced GDP impactsTotal GDP(value added)30,100Total jobsdirectly and indirectly supported by Thailand exhibitionsTOTAL IMPACTS(2019)$7,900 total impact per sqmof venue gross indoor exhibition spaceExe

22、cutive SummaryEXHIBITIONS VOLUME AND DIRECT SPENDING19This section summarizes the size and scope of exhibitions sector activity in Thailand.The primary measures presented are:Amount of exhibitions direct spendingSpace sold(net square meters)Number of direct jobsExhibition data on space sold was prov

23、ided by TEA.Data on estimated exhibitions direct spending is based on econometric modeling by Oxford Economics.Exhibitions direct spending represents spending directly incurred in the planning and production of exhibitions,travel to exhibitions,and accompanying exhibitions-related activities.As a ba

24、sic description this includes spending by participants to attend the exhibition(e.g.travel and registration),organiser-paid travel,spending by exhibitors(e.g.sponsorships,exhibit production,off-site events),spending by exhibition organisers and hosts,and certain other exhibitions-related spending.Ov

25、erview of Exhibitions Volume and Direct SpendingExhibitions direct spending provides the clearest measure of the economic significance of exhibitions because it captures the full scope of services and goods directly provided by a range of industries.For this reason,much of our summary analysis focus

26、es on exhibitions direct spending.10In 2019,the exhibitions industry in Thailand sold 1.03 million net square meters,including 0.51 million net square meters for business-to-business exhibitions and 0.52 million net square meters for business-to-consumer exhibitions.Exhibitions generated$0.87 billio

27、n of direct spending by visitors,exhibitors and additional exhibitions-related expenditure.Summary of Thailands exhibitions activity,2019Source:Thai Exhibition Association,UFI,and Oxford Economics(2022)Exhibitions generated$0.87 billion of direct spending and sold 1.03 million net square meters in 2

28、019.Exhibitions Summary DataThailland2019Direct spending(billions)$0.87Space sold(nsm millions)1.03Business-to-business exhibitions0.51Business-to-consumer exhibitions0.52Capacity(sqm millions)0.25 11Exhibitions in Thailand generated$0.87 billion of direct spending in 2019.Based on a total of 252,52

29、3 square meters of venue capacity measured in terms of gross indoor exhibition space(as reported in UFIs World Map of Venues),direct spending per square meter of venue capacity amounted to approximately$3,445Direct spending metrics,2019Source:Oxford Economics(2022)Exhibitions generated approximately

30、$3,445 in direct spending per square meter of venue capacity in Thailand in 2019.Exhibitions Summary DataThailland2019Direct spending per square metre of capacity$3,420$3,445ECONOMIC IMPACTOF EXHIBITIONS213Our analysis of exhibitions direct spending served as an input for the economic impact model w

31、e used to estimate exhibitions-sector direct employment and labor income,and the downstream impacts of the sector.This model is also referred to as an input-output(I-O)model.Components of economic impact analysisThere are three main components of a sectors overall economic impact:1.Direct impacts co

32、nsist of the direct spending and jobs that are involved in planning and producing exhibitions,and for participants to travel to exhibitions,as well as other exhibitions-related spending.Given the characteristics of the exhibitions sector,much of this direct activity occurs across a variety of sector

33、s.For example,the production of an exhibition frequently involves employees onsite at a hotel or other venue,including banquet staff as well as audio-visual/staging and technical staff,and other third-party contracted service providers,such as entertainment/production services,dcor,speakers and trai

34、ners,advertising and promotion.These employees all represent direct jobs supported by the exhibitions sector.Meanwhile,participants travel to the exhibition,and accommodation during the event,supports direct spending and jobs across a range of service providers in the travel sector.Though this spend

35、ing is occurring across businesses in a range of industry sectors,it all represents activity that is supported by exhibitions direct spending,and is part of the exhibition sectors direct impacts.Economic Impact Approach2.Indirect impacts represent downstream supplier industry impacts,also referred t

36、o as supply chain impacts.For example,the facilities at which exhibitions occur require inputs such as energy and food ingredients.Also,many exhibition venues contract with specialized service providers,such as marketing,equipment upkeep,cleaning,technology support,accounting,and legal and financial

37、 services.These are examples of indirect impacts.3.Induced impacts occur as employees spend their wages and salaries in the broader economy.For example,as hotel employees spend money on rent,transportation,food and beverage,and entertainment.Indirect and induced impacts may also be referred to colle

38、ctively as indirect effects.To conduct the impact analysis,we used country-level economic impact multipliers from the existing exhibitions impact studies.For countries where exhibitions impact multipliers were either unavailable or appeared inconsistent with reference data,we used travel and tourism

39、 multipliers maintained by WTTC(World Travel and Tourism Council)and Oxford Economics.WTTC multipliers are based on input-output tables for each country and were sourced from either the OECD(Organisation for Economic Co-operation and Development),or when not available,national statistical offices.Fr

40、om the input-output tables,multiplier matrices were developed for each economy,detailing the flow of spending in an economy that occurs as a consequence of spending in a given industry.1 12 23 314Overall,the total economic impact of the exhibition industry in Thailand in 2019 is summarized as follow

41、s:$2.00 billion of economic output(business sales)$1.28 billion in total GDP contribution;andNearly 30,100 total jobs.These totals represent the combination of direct impacts within the exhibitions sector(e.g.$0.87 billion of exhibitions direct spending,and 18,100 direct jobs),plus the estimated ind

42、irect and induced effects.The resulting output multiplier for the exhibitions sector in Thailand is 2.31,implying that each$1.00 in direct exhibition spending generates an additional$1.31 in indirect and induced expenditures in Thailands economy.Economic impacts of Thailand exhibitions,2019Source:Ox

43、ford Economics(2022)Thailands exhibitions sector supported$2.00 billion of total output(business sales)in 2019.Economic ImpactsAllExhibitionsDirect exhibitions sector impactOutput(exhibitions direct spending)($billions)$0.87Employment18,100GDP($billions)$0.59Total exhibitions sector impactOutput($bi

44、llions)$2.00Employment30,100GDP($billions)$1.2815Exhibitions generated$2.00 billion of total output(total business sales)in 2019.Based on a total of 252,523 square meters of venue capacity measured in terms of gross indoor exhibition space(as reported in UFIs World Map of Venues),total output per sq

45、uare meter of venue capacity amounted to approximately$7,900.Economic total output metrics,2019Source:Oxford Economics(2022)Exhibitions generated approximately$7,900 in total output per square meter of capacity in 2019.Economic ImpactsThailland2019Total output per square meter of capacity$7,900METHO

46、DS317Our approach to the exhibitions sector research included the following steps:Analysed existing data on exhibitions maintained by UFI,including net square meters sold,visitors,and exhibitors;Analysed existing studies on exhibitions impacts in 13 countries,as well as third-party industry data;Dev

47、eloped an econometric model of the relationship between economic and travel-industry data sets and exhibitions industry impacts to estimate exhibitions activity in countries in which the exhibitions industry has not been previously quantified;andCombined the results of existing studies and modeled r

48、elationships to prepare global estimates.Overall,we found that approximately three-quarters of global exhibitions direct spending was already covered by the country-level studies we analysed.As a result,while we applied the econometric model to prepare estimates for countries that have not yet been

49、studied at the country level,findings for many of the largest and most important countries were based on the results of existing studies.This provided a solid research foundation.In this global analysis,we have relied broadly on the headline measures of exhibitions activity and participants as repor

50、ted by each study.In situations in which we saw clear differences such as definition differences or outliers in specific results,we excluded specific country-level report metrics from the estimation process.Our discussion of research methods in this section follows the same order.First,we outline th

51、e research process,then we highlight the statistical modeling,and last,the conceptual framework.Figures in this report are based on unrounded estimates.Due to rounding,the totals in certain tables may differ slightly from the sum of the individual rows or columns.The analysis was conducted in nomina

52、l Euros and US dollars based on market exchange rates.Model outputs were analyzed in US dollars and converted to Euros using the period exchange rate for calendar year 2019,which was 1.12 US Dollars for each Euro.We integrated the results of existing studies and exhibitions data maintained by UFI to

53、 model global exhibitions volume and direct spending.Three-quarters of global exhibitions direct spending was covered by country-level studies.Research Approach18We compiled existing studies on the impacts of exhibitions in global markets.A comprehensive list of the 13 studies included in the analys

54、is is outlined in the table below.The research team collected the following metrics for each country:Direct spending Direct value-added(GDP)Direct jobsTotal participantsIn addition to existing impact studies,the research process also encompassed third-party industry data from the following sources:U

55、FIGlobal Business Travel AssociationCountryStudy year Report titleSourcesAustralia2015The Value of Business Events to AustraliaErnst&Young,Business Events Council of AustraliaCanada2014The Economic Contribution of Business Events in CanadaMPI Foundation Canada,Maritz Research,The Conference Board of

56、 CanadaDenmark2012Economic Contribution of Meeting Activity in DenmarkVisit DenmarkFrance2011tude sur les retombes conomiques delactivit des salons en France et en le-de-FranceAtout France,CCI de Paris IDF,Comit des Expositions de Paris,DGE(Ministre de lEconomie),France Congrs et Evnements,UNIMEV-OJ

57、S,ViparisGermany2018Overall Economic Relevance of Exhibitions in GermanyAssociation of the German Trade Fair Industry(AUMA)Guatemala2017Medicion de la relevancia economica de la industria de turismo de reuniones en GuatemalaSTA Consultores,Gobierno de la Republica de Guatemala,INGUAT(Instituto Guate

58、malteco de Turismo)India2017Indian Exhibition Industry ReportIndian Exhibition Industry AssociationMexico2016The Economic Relevance of Meetings in MexicoSECTUR(Secretaria de Turismo),Consejo do Promocion Turistica de Mexico,STA ConsultoresPeru2014Peru,Destination for Meetings TourismPROMPERUPoland20

59、15The Economic Impact of Polands Meetings IndustryPoland Convention Bureau,Polka Organizacja Turystyczna,MPI Foundation,MPI Poland ChapterUnited Kingdom2012The Economic Impact of the UK Exhibitions IndustryFaceTime&Oxford EconomicsUnited Kingdom2013The Economic Impact of the UK Meeting&Event Industr

60、yMPI FoundationUnited States2018Economic Significance of Meetings to the US EconomyOxford Economics,Events Industry CouncilExisting economic impact studiesExisting Impact Studies and Third-Party Data19The research team developed an econometric model of the relationship between economic and travel-in

61、dustry data sets and exhibitions impacts to estimate exhibitions activity in countries in which the exhibitions industry has not been previously quantified.In addition to the data provided by UFI and collected from existing exhibitions impact studies,the table below summarizes the data we compiled t

62、o include in the modeling process.Data descriptionSourcesBusiness arrivalsUNWTO(World Tourism Organization),various national statistical agenciesInternational business inbound travel spendingIMF Balance of PaymentsDomestic business travel spendingOxford Economics/WTTC(World Travel and Tourism Counci

63、l)GDP(gross domestic product)Haver Analytics,various national statistical agenciesTotal populationHaver Analytics,United Nations,various national statistical agenciesPer capita GDPHaver Analytics,United Nations,various national statistical agenciesServices industry gross outputVarious national stati

64、stical agencies,central banks,and ministries of financeWhole economy gross outputVarious national statistical agencies,central banks,and ministries of financeData inputs for econometric modelEconometric Model20The resulting model reflects the relationship between travel-industry measures,such as est

65、imated domestic and international business travel spending at the country level(based on Oxford Economics analysis for the World Travel and Tourism Council),and exhibitions direct spending.Because studies of exhibitions activity in more developed countries tend to show higher levels of activity rela

66、tive to business travel spending,GDP per capita was also used in the model.The resulting estimates show that exhibitions spending tends to be correlated with broad economic activity.For example,the correlation between exhibitions spending and economic activity as measured by GDP is shown in the acco

67、mpanying chart.$0$10,000$20,000$30,000$40,000$50,000$60,000$70,000$0$5,000$10,000$15,000$20,000Exhibitions direct spending($millions)GDP($billions)Exhibitions direct spending and GDP by countryExhibitions direct spending and GDP by countrySource:Oxford Economics(2019)Econometric Model21After estimat

68、ing direct exhibitions spending based on existing impact studies and the econometric model,the research team estimated additional economic impact metrics utilizing the sources listed in the table below.For example,we used economic data on gross output and value added for both the whole economy and t

69、he travel industry to estimate direct GDP impacts for each country.Economic impact metricEstimation method and sourceEconomic impact metricsDirect spending(direct output)Existing impact studiesEstimates from econometric modelNet space sold(square meters)Existing UFI dataTotal visitorsExisting UFI da

70、taTotal exhibitorsExisting UFI dataDirect GDP(gross domestic product)impactEstimates of direct spending(direct output)Economic data on whole economy&services industry gross output from national statistical agenciesEconomic data on whole economy&services industry value-added from national statistical

71、 agenciesDirect jobsExisting impact studiesEstimates from econometric modelEconomic data on whole economy gross output from various national statistical agenciesTravel&tourism data&multipliers from Oxford Economics&WTTC(World Travel and Tourism Council)Total economic impact,GDP,and jobsExisting impa

72、ct studiesTravel&tourism data&multipliers from Oxford Economics&WTTC(World Travel and Tourism Council)In addition,we used multipliers from existing impact studies and travel and tourism multipliers maintained by Oxford Economics and WTTC to estimate the total economic impact of exhibitions for each

73、country.Economic Impact Metrics22Oxford Economics was founded in 1981 as a commercial venture with Oxford Universitys business college to provide economic forecasting and modelling to UK companies and financial institutions expanding abroad.Since then,we have become one of the worlds foremost indepe

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