ECONOMIC IMPACT OF EXHIBITIONS IN BELGIUM AND LUXEMBOURG

The association for the live communication industry in Belgium and Luxembourg and its members cooperated with our institution to conduct a study measuring the economic impact of fairs and events.

The objective of this study was to quantify this economic impact and to analyze the evolution compared to the study conducted in 2008 (Coulée, 2010).

Fairs are a growing industry and have an important impact on the regional and national economy.
To measure the impact of fairs on the regional and national economy, the spending of three major stakeholders was analyzed: the exhibitors, the visitors and the organizers. A quantitative market study was conducted in seven major venues. These venues were selected through a judgment sample, to execute an extrapolation (Burns & Bush, 2013).

In each venue a judgment sample was used to select both professional and public events. Exhibitors and visitors were interviewed using a standardized questionnaire whereas organizers were interviewed using a qualitative depth interview (Burns & Bush, 2013).

The study revealed a slight decrease in absolute numbers of the total economic impact. The expenditure of the three main parties dropped from 1.756.106.000 EURO in 2008 to 1.619.405.000 EURO in 2012. Purchases of the visitors during fairs are not included, since every fair has its specific purchase pattern. The exhibitors represent two thirds of the total impact in 2012, which indicates a minor shift in expenditure from exhibitors towards visitors compared with 2008.

The conclusion of this survey shows that the overall impact decreases with almost 8% from 2008 to 2012. It can be assumed that the economic recession plays a role in this decrease. Nevertheless has the venue industry a share of 0,3 % of the GDP in Belgium in 2012 without incorporating the expenditure of visitors during the venues. Through this research, students and lecturers gained insight and experience in conducting market research and offering business services.

References:
[1] Burns, C & Bush, R. (2013). Marketing Research. Pearson education limited.
[2] Coulée ; F. (2010). Plus de 2 milliards d'euros investis dans 364 salons, Tendances, 28 January 2010.