Strong revenues see centres buck worldwide economic trend

WORLD – A global association of conference centre operators has unveiled its latest survey. The International Association of Convention Centers’ (AIPC) annual performance and prospects Survey for 2015 has found that growth in centre business is outpacing that of the overall global economy. AIPC conducted the survey from March to May this year. It was sent to 170 members around the world and responses were received from 107 member venues. The study was developed by AIPC in collaboration with Michael Hughes, Managing Director of Research & Consulting with Access Intelligence Research & Consulting. The survey found that there was strong (5.8%) revenue growth among worldwide in 2014 compared to 3.1% in 2013. Europe experienced its strongest increase in revenue growth with a 7.7% increase against 2.8% in 2013. Last year also saw the strongest attendance growth since 2011, with a worldwide average of 4.5%. Major capital investment projects are slowing, with 63% of members saying they had some type of major new development or expansion project underway or in planning stages against 71% the previous year. However, facility renovation projects are increasing. Africa continues to be the fastest growing region of the world, with African centre members expanding gross revenues by more than 15% in 2014. Confidence is slightly lower, with a total of 74% of members around the world considering the strength of the economic growth in their region to be moderate or strong, down from 79% of members in 2014. Asian members continue to anticipate the strongest economic relative to other regions.