New York—A majority of event industry CEOs provided a pessimistic outlook for this year, according to the 2009 Exhibition and Conference Industry Outlook, a study by Jordan, Edmiston Group and Tradeshow Week.
The study was based on a December survey of representatives from 126 events companies. Only 7% of the respondents predicted they would generate more revenue this year than in 2008, and 63% said this year will be worse for their businesses. Additionally, the report found CEOs will be focused on managing costs this year and that launching new events is the No. 1 driver of revenue growth.
The majority (63%) of event industry CEOs described the North American mergers and acquisition market as "good." Nonetheless, 69% of respondents said they are holding back on M&A activity until the visibility in the market improves and the gap between the valuation expectations of buyers and sellers move closer together. —Sean Callahan