1、IN COLLABORATION WITHPRODUCED BYEconomic Impact of Exhibitions in GreeceFebruary 20242Executive SummaryExhibitions Volume and Direct SpendingEconomic Impact of ExhibitionsMethods1 12 23 34 4TABLE OF CONTENTSFebruary 2024Executive Summary14OverviewTo quantify the economic significance of the global e

2、xhibition 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”,which was released in April 2019 and showed the scope of the

3、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 maintained by UFI,including net square metres sold,visitors,and ex

4、hibitors;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 econometric model of the relationship between economic and travel-indus

5、try 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 global estimates.Previous country-level analyses of exhibiti

6、ons activity accounted for more than three-quarters of the estimated global total,providing a solid research foundation.Executive Summary Based on the country-level modeling in the global economic impact analysis released in April 2019,Oxford Economics is compiling country profile reports on the imp

7、acts of the exhibition industry.This document presents key elements of the research and findings for the exhibition industry in Greece,which represents the fourth country profile released after the initial release of the global impact analysis.The report is organised in three sections:1.Exhibition i

8、ndustry metrics and direct spending 2.Economic impact analysis3.MethodsFebruary 20245What 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 inform

9、ation 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:Trade exhibitions:exhibitions that promote trade and commerce and are attended primarily by t

10、rade visitors.A trade exhibition can be opened 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.Executive Summary What are the main components of economic impact?Direct impacts cons

11、ist of the direct spending and jobs that are directly involved in planning and producing exhibitions,and for participants and exhibitors to travel to exhibitions,as well as other exhibition-related spending.Direct impacts do not include the economic activity conducted between exhibitors and visitors

12、.Indirect impacts represent downstream supplier industry impacts,also referred to 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 specialised service providers,such as marketing

13、,equipment upkeep,cleaning,technology support,accounting,and legal and financial services.These are examples of indirect impacts.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 beverag

14、e,and entertainment.Impacts are expressed in terms of economic output,which includes all business sales(including all direct and indirect economic activity associated with exhibitions),GDP(gross domestic product),which is defined as business sales less intermediate inputs,and jobs.February 20246Dire

15、ct impacts of exhibitions in Greece(2022)Number of exhibitions,visitors&exhibitors:Based on data provided by SOKEE,exhibitions in Greece directly involved approximately 480,000 net square metres soldDirect spending:Exhibitions generated 497 million of direct spending by visitors,exhibitors and addit

16、ional exhibitions-related expenditures.Direct GDP(gross domestic product)and employment:Exhibitions supported more than 4,000 direct jobs in Greece and generated 246 million of direct GDP.Executive Summary Total impacts of exhibitions in Greece(2022)After accounting for indirect and induced impacts,

17、exhibitions in Greece supported a total economic impact in 2022 of:1,062 million of output8,400 jobs 499 million of GDP(representing contribution to Greek gross domestic product)Based on a total economic impact of 1,062 million and a total of 147,500 square metres of capacity in Greece(as reported i

18、n UFIs World Map of Venues),total output per square metre of capacity amounted to approximately 7,200 in 2022.February 20247Executive Summary 4,000 jobsdirectly supported by Greece exhibition industryDirect Impacts1,062 million in total output including direct,indirect,and induced output8,400 total

19、jobsdirectly and indirectly supported by Exhibitions in GreeceTotal ImpactsIndirect&Indirect&Induced ImpactsInduced Impacts497 million in direct spending representing spending to plan and produce exhibitions,exhibitions-related travel,and other direct spending,such as spending by visitors and exhibi

20、tors(gross domestic product)246 million in direct GDP7,200 total impact per sqmof venue gross indoor exhibition spaceFebruary 2024including direct,indirect,and induced GDP impacts499 million in total GDP8Executive Summary February 2024Economic impacts of exhibitions in Greece,2022(Amounts in million

21、s of euros,except jobs)Source:Oxford Economics(2023)2022(Euros&jobs)Direct exhibitions sector impactOutput(exhibitions direct spending)-millions 497Employment4,015GDP(millions)246Total exhibitions sector impactOutput(millions)1,062Employment8,376GDP(millions)499Exhibitions volume and direct spending

22、210This section summarises the size and scope of exhibitions sector activity in Greece.The primary measures presented are:Amount of exhibitions direct spendingSpace sold(net square metres)Number of exhibitions direct jobsExhibition data on space sold was provided by SOKEE.Data on estimated exhibitio

23、ns 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 basic description this includes spending

24、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.Exhibitions direct spending provides the

25、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 focuses on exhibitions direct spending and the number of exhibitions participants.Overview of

26、exhibitions volume and direct spendingDefinition of an exhibitionUFI 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.Exhibitions dif

27、fer from conference,conventions or seminars,or other business and consumer events.Exhibitions exclude flea markets and street markets.Exhibitions include:Trade exhibitions:exhibitions that promote trade and commerce and are attended primarily by trade visitors.A trade exhibition can be opened to the

28、 public at specific times.Public exhibitions:exhibitions open primarily to general public visitors.A public exhibition is sometimes also known as a consumer show.February 202411In 2022,exhibitions included 480,000 net square metres in Greece.Exhibitions generated approximately 497 million of direct

29、spending,by visitors,exhibitors and additional exhibitions-related expenditure.Exhibitions Summary DataSummary of exhibitions activity in Greece,2022Source:SOKEE(2022),UFI(2023),Oxford Economics(2023)Exhibitions generated 497 million of direct spending and sold 480,000 net square metres in 2022.Febr

30、uary 2024Direct spending(millions)497Space sold Net square metres480,000CapacityGross indoor exhibition space(square metres)147,50012Exhibitions generated 497 million of direct spending in 2022.Based on a total of 147,500 square metres of venue capacity measured in terms of gross indoor exhibition s

31、pace(as reported in UFIs World Map of Venues),direct spending per square metre of venue capacity amounted to 3,400.Average direct spending per square metre of venue capacity throughout Europe amounted to 2,500 in 2022.Exhibitions Summary DataDirect spending metrics,2022Source:Oxford Economics(2023)E

32、xhibitions generated approximately 3,400 in direct spending per square metre of capacity in Greece in 2022.February 2024Direct spending per square metre of capacity 3,400Economic Impact of Exhibitions314Economic Impact ApproachThere are three main components of a sectors overall economic impact:Dire

33、ct impacts consist 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 vari

34、ety of sectors.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,spea

35、kers and trainers,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.Thou

36、gh this spending 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.Components of economic impact analysisIndirect impacts represent downstream supplier industr

37、y impacts,also referred to 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,accountin

38、g,and legal and financial services.These are examples of indirect impacts.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 al

39、so be referred to collectively 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

40、used travel and tourism 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

41、 statistical offices.From 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.February 202415Overall,the total economic impact of the exhibition industry in Greece in 202

42、2 is summarised as follows:1,062 million of economic output 499 million in total GDP contribution;andNearly 8,400 total jobs.These totals represent the combination of direct impacts within the exhibitions sector(e.g.497 million of exhibitions direct spending,and 4,000 direct jobs),plus the estimated

43、 indirect and induced effects.The resulting output multiplier for the exhibitions sector in Greece is 2.14,implying that each 1.00 in direct exhibition spending generates an additional 1.14 in indirect and induced expenditures in Greek economy.The resulting GDP multiplier for the exhibitions sector

44、in Greece is 2.03,implying that each 1.00 in direct GDP generates an additional 1.03 in indirect and induced GDP in Greek economy.Economic Impacts Source:Oxford Economics(2023)The exhibitions sector in Greece supported 1,062 million of total output in 2022.Economic impacts of exhibitions in Greece,2

45、022(Amounts in millions of euros,except jobs)February 20242022(Euros&jobs)Direct exhibitions sector impactOutput(exhibitions direct spending)-millions 497Employment4,015GDP(millions)246Total exhibitions sector impactOutput(millions)1,062Employment8,376GDP(millions)499Methods417Research ApproachOur a

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

47、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 relationshi

48、ps 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 studied at

49、 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 reported by eac

50、h 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 the research

51、 process,then we highlight the statistical modeling,and finally,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.Model outputs were analysed in US dollars a

52、nd converted to Euros using the period exchange rate for calendar year 2022,which was 0.95 Euros for each US Dollar.We integrated the results of existing studies and exhibitions data maintained by UFI to model global exhibitions volume and direct spending.Three-quarters of global exhibitions direct

53、spending was covered by country-level studies.February 202418Existing Impact Studies and Third-party DataWe compiled existing studies on the impacts of exhibitions in global markets.A comprehensive list of the 13 studies included in the analysis is outlined in the table below.The research team colle

54、cted 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:UFIGlobal Business Travel AssociationCountryStudy year Rep

55、ort 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 CanadaDenmark2012Economic Contribution of Meeting Activi

56、ty 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-OJS,ViparisGermany2018Overall Economic Relevance of Exhibit

57、ions 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 Guatemalteco de Turismo)India2017Indian Exhibition Industry Re

58、portIndian Exhibition Industry AssociationMexico2016The Economic Relevance of Meetings in MexicoSECTUR(Secretaria de Turismo),Consejo do Promocion Turistica de Mexico,STA ConsultoresPeru2014Peru,Destination for Meetings TourismPROMPERUPoland2015The Economic Impact of Polands Meetings IndustryPoland

59、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 IndustryMPI FoundationUnited States2018Economic Significance of

60、Meetings to the US EconomyOxford Economics,Events Industry CouncilExisting economic impact studiesFebruary 202419Econometric ModelData descriptionSourcesBusiness arrivalsUNWTO(World Tourism Organization),various national statistical agenciesInternational business inbound travel spendingIMF Balance o

61、f PaymentsDomestic business travel spendingOxford Economics/WTTC(World Travel and Tourism Council)GDP(gross domestic product)Haver Analytics,various national statistical agenciesTotal populationHaver Analytics,United Nations,various national statistical agenciesPer capita GDPHaver Analytics,United N

62、ations,various national statistical agenciesServices industry gross outputVarious national statistical agencies,central banks,and ministries of financeWhole economy gross outputVarious national statistical agencies,central banks,and ministries of financeData inputs for econometric modelThe research

63、team developed an econometric model of the relationship between economic and travel-industry 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

64、 existing exhibitions impact studies,the table below summarises the data we compiled to include in the modeling process.The econometric model tested the relationship between economic and travel-industry data sets and exhibitions industry impactsFebruary 202420Econometric ModelThe resulting model ref

65、lects the relationship between travel-industry measures,such as estimated 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 m

66、ore developed countries tend to show higher levels of activity relative 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 spe

67、nding and economic activity as measured by GDP is shown in the accompanying 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 countryThe resulting model reflects the positiv

68、e relationship between travel-industry measures and exhibitions direct spending.Source:Oxford Economics(2023)February 202421Economic Impact MetricsAfter estimating direct exhibitions spending based on existing impact studies and the econometric model,the research team estimated additional economic i

69、mpact metrics utilising 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 the travel industry to estimate direct GDP impacts for each country.In addition,we used multipliers from existing impact studies and travel a

70、nd tourism multipliers maintained by Oxford Economics and WTTC to estimate the total economic impact of exhibitions for each country.Secondary data sources were a critical part of the research.Economic impact metricEstimation method and sourceEconomic impact metricsDirect spending(direct output)Exis

71、ting impact studiesEstimates from econometric modelNet space sold(square meters)Existing UFI data,SASiE 2018 dataTotal visitorsExisting UFI data,SASiE 2018 dataTotal exhibitorsExisting UFI data,SASiE 2018 dataDirect GDP(gross domestic product)impactEstimates of direct spending(direct output)Economic

72、 data on whole economy&services industry gross output from national statistical agenciesEconomic data on whole economy&services industry value-added from national statistical agenciesDirect jobsExisting impact studiesEstimates from econometric modelEconomic data on whole economy gross output from va

73、rious national statistical agenciesTravel&tourism data&multipliers from Oxford Economics&WTTC(World Travel and Tourism Council)Total economic impact,GDP,and jobsExisting impact studiesTravel&tourism data&multipliers from Oxford Economics&WTTC(World Travel and Tourism Council)February 202422AboutUFI

74、is the leading global association of the worlds tradeshow organisers and exhibition centre operators,as well as the major national and international exhibition associations,and selected partners of the exhibition industry.UFIs main goal is to represent,promote and support the business interests of i

75、ts members and the exhibition industry.UFI directly represents around 50,000 exhibition industry employees globally,and also works closely with its 68 national and regional associations members.Oxford EconomicsUFIOxford Economics was founded in 1981 as a commercial venture with Oxford Universitys bu

76、siness 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 independent global advisory firms,providing reports,forecasts and analytical tools on 200 countries,100 industrial sectors and

77、 over 3,000 cities.Headquartered in Oxford,England,with regional centres in London,New York,and Singapore,Oxford Economics has offices across the globe.We employ over 200 full-time people,including more than 130 professional economists,industry experts and business editorsone of the largest teams of

78、 macroeconomists and thought leadership specialists.SOKEEThe Greek Exhibition Industry Association(SOKEE)is the leading and unified voice ofthe Exhibition Industry in Greece,representing Exhibition Organisers,Stand Contractors and Exhibition Centers.It was founded in 2022 as a non-profit organization.23SOKEEGreek Exhibition Industry AssociationT:+30 210 4283608E:sokeesokee.grW:www.sokee.gr