GCC Events & Exhibition Market - Focused Insights 2024-2029

GCC EVENTS AND EXHIBITION MARKET SIZE, TRENDS INSIGHTS

The GCC events and exhibition market was valued at USD 656.00 million in 2023 and is expected to reach USD 827.25 million by 2029, growing at a CAGR of 3.94% during the forecast period. The GCC events and exhibition market is witnessing substantial expansion, driven by several key factors. These include the integration of digital technology and big data analytics, the growing potential of the meetings industry, the rising demand for entertainment events, the evolution of exhibition models, and increased budgetary emphasis on brand experiences. Market growth is also propelled by the increasing prevalence of events and exhibitions across diverse industries, strategic efforts to develop the exhibitions sector, and a robust economy characterized by rising disposable income.

GCC EVENTS AND EXHIBITION MARKET TRENDS & DRIVERS

Leveraging Big Data and Digital Tech for Innovation

The strategic adoption of digital technology and big data analytics is a prominent trend in the GCC events and exhibitions market, fueled by the benefits of data-driven decision-making, the region's emphasis on innovation, improved return on investment, and enhanced attendee experience. GCC countries are at the forefront of technology adoption in the region, with significant government initiatives to invest in emerging technologies and advanced digital infrastructure. The impact of artificial intelligence in the Middle East is expected to increase by 20-30% annually.

Meetings Industry, a New Trend

The growing potential of the meetings industry is a key trend in the GCC events and exhibitions market, propelled by robust economic growth, shifting consumer preferences, a strategic emphasis on MICE tourism, and advantageous geographical positioning. The surge in business activities across GCC nations is boosting economic expansion, creating a heightened need for in-person interactions that drive the demand for seminars, business meetings, and conferences. The GCC's strategic location, bridging Asia, Africa, and Europe, renders it a prime destination for international conferences and meetings, facilitating seamless access for participants from various global regions.

Budget Planning for Brand Experience Initiatives

Increased budget allocation for brand experiences is a significant catalyst in the GCC events and exhibitions market, driven by the evolving emphasis on experiential marketing, social media amplification, brand loyalty cultivation, and intensified competitive pressures. Events and exhibitions are transitioning from traditional product showcases to immersive experiences that create emotional connections with attendees. This transformation encompasses product demonstrations, interactive installations, and virtual reality engagements.

Stimulating the Exhibitions Sector for Growth

Strategic initiatives to expand the exhibitions sector are a key driver in the GCC events and exhibitions market, fueled by economic growth, government support, MICE destination development, and strategic location. The GCC economies have experienced significant post-pandemic growth, driven by increased business investment and disposable income, creating demand for new partnerships and product showcases. The GCC's strategic geographical position as a natural hub for international trade is leveraged by exhibitions to attract both international and local companies, thereby increasing cross-border business opportunities.

INDUSTRY RESTRAINTS

Strong Exhibitor Advocacy & Political Unrest

Exhibitors are essential to the vitality of events and exhibitions. Strong exhibitor advocacy organizations are instrumental in promoting fair treatment and a positive exhibitor experience, through lobbying for regulatory relief, government support, and access to critical infrastructure and resources. Political instability in the region can significantly disrupt event planning, resulting in uncertainty, decreased attendance, economic setbacks, and exhibitor cancellations. During times of political unrest, advocacy organizations grapple with challenges in advocating for regulatory adjustments, obtaining government support, and ensuring a favorable exhibitor environment. Inadequate advocacy can adversely affect the GCC events and exhibitions market.

SEGMENTATION INSIGHTS

• Insights By Exhibition: The GCC events and exhibitions market, segmented by exhibition type, comprises B2B, Mixed, and B2C categories. The B2B segment held the largest market share in 2023, while the Mixed segment is projected to experience the fastest growth. The GCC's strategic location and proximity to growing economies in Europe, Africa, and Asia make it particularly advantageous for B2B exhibitions. B2B events offer valuable opportunities for tailored and specific feedback from target audiences, facilitating necessary adjustments.
• Insights By Revenue Streams: The GCC events and exhibitions market, segmented by revenue streams, features exhibitor fees, services, sponsorship fees, and entrance fees. The exhibitor fees segment captured the largest market share in 2023, while the services segment is expected to demonstrate the highest growth rate. Following the pandemic, there has been a significant uptick in corporate engagement with events and exhibitions, resulting in increased expenditure on exhibitor fees as businesses leverage these platforms for media attention, lead generation, product launches, and brand enhancement. The services segment offers a diverse array of offerings, including venue sourcing and administration, marketing and promotional campaigns, event design and planning, technological innovation, logistical and operational solutions, data analytics, and catering and hospitality services. Additionally, revenue from sponsorship and entrance fees is experiencing substantial growth in GCC countries.
• Insights By Industry Type: The GCC events and exhibitions market, segmented by industry type, encompasses consumer goods and retail, hospitality, agriculture, food, and energy (AFE), automotive and transportation, the industrial sector, entertainment, and other sectors. The consumer goods and retail segment held the largest market share in 2023, while the entertainment segment is projected to experience the fastest growth. Events and exhibitions provide diverse and valuable opportunities for companies and participants across various industries, including new product launches, brand awareness development, networking with potential distributors and customers, and lead generation.

GEOGRAPHICAL ANALYSIS

Qatar is demonstrating remarkable expansion within the GCC events and exhibitions market, showcasing the most rapid CAGR throughout the forecast period. This expansion is fueled by a surge in business and leisure tourism, substantial infrastructure development investments, and robust governmental support. Qatar is anticipated to be one of the leading economies in the Gulf Cooperation Council during the forecast period. GCC governments are actively promoting the staging of large-scale events and exhibitions. The United Arab Emirates and Saudi Arabia are the primary revenue generators in the region, leveraging their established business landscapes and strategic governmental efforts to attract international commerce and tourism.

COMPETITIVE LANDSCAPE

The GCC events and exhibitions market report provides exclusive data on 41 vendors. This highly competitive market features both international and local players offering a range of services, including venue sourcing, marketing, logistics, and event planning. Companies are focusing on developing niche events tailored to specific sectors, adopting advanced technology to enhance attendee experiences, and leveraging social media advertising for market traction. They are also launching dedicated websites and apps to facilitate attendee access. Event organizers are increasingly emphasizing memorable experiences through unique networking opportunities, high-quality catering, and interactive exhibits, contributing to market competitiveness. Sustainability practices are also a key differentiator, with organizers aiming to minimize environmental impact through reduced energy consumption and the use of recycled materials.