Cheers to an Encouraging Start - Blog

Dear Readers,

As we approach the beginning of a new fiscal, it is always prudent to reflect on the one we are to leave behind. The achievements must be acknowledged with pride and the setbacks recognized with vigor to strike back and fight for lost causes. A new fiscal cycle is akin to a fresh start and comes with new plans, announcements, and opportunities to improve and grow.

For HITEX, this fiscal was not just successful but also highly enriching and encouraging. And with the Events and Exhibitions industry regaining traction, the coming fiscal also holds immense potential. The latest, 32nd edition of global association of the exhibition industry, UFI’s flagship Global Exhibition Barometer research indicates that in most markets around the world, the industry fully recovered from the pandemic slump in 2023, with revenues reaching a comparable level to 2019, on average. Also, revenues for 2024 for the industry are expected to reach 115 percent of pre-pandemic levels on average globally. 

The Hospitality and Tourism sector also looks optimistic, opening new avenues and opportunities for the Events sector. The Hospitality industry in India’s market size is estimated at US$ 24.61 B in 2024 and is expected to be US$ 31.01 B by 2029, growing at a CAGR of 4.73 percent during the forecast period (2024-2029). The demand from MICE is also contributing to its growth. Hotels are benefiting from the surge in conferences and corporate events as businesses are returning to normal operations. Hosting events has become a significant source of their revenue.

Another good news is the unveiling of our newly constructed, state-of-the-art Hall 4 at HITEX which is highly anticipated in the coming fiscal. We will be now in a better position to serve our esteemed customers. The booking calendar of HITEX as well as our new Hall 4 is a testament to their unwavering support and faith in us in taking their businesses a notch up.

On a concluding note, we look forward to you joining us at HITEX in the upcoming fiscal year and offering us the opportunity to serve you to the best of our capabilities. We have always cherished being part of your journey and will continue with the same spirit in the future.

Revenues for 2024 for the Events and Exhibitions industry are expected to reach 115 percent of pre-pandemic levels on average globally.