The country’s exhibition industry is poised for a strong comeback this year according to a World Trade Center Metro Manila (WTCMM) executive, drawing optimism from improved exhibitor interest, as well as increased booking rates during the year.
Pamela Pascual, chair and CEO of the WTCMM—which touts its site as a pioneer and a premier world-class exhibition venue in the Philippines—said the local industry is well on its way to recovery in 2023.
“The year 2022 showed optimistic indicators that point to restored market confidence and renewed vigor among stakeholders to go back to the exhibition floor,” she said in a statement released Wednesday.
Further, the firm said it is expecting business operations to recover robustly, reaching prepandemic business levels this year.
The WTCMM added that they have seen that demand for exhibition space is increasing and already recording high utilization rates during peak months.
“[Last year] was a good start for recovery with a critical mass of different types of events staged helped boost the confidence of stakeholders to resume their plans, and this is why WTCMM’s utilization level increasingly grew from the first half of the year and accelerated towards the second semester,” the company said.
The company added that their optimism for this year is supported further by bookings in the first half already exceeding targets.
“We also have once again started to receive inquiries about the timing of the halted expansion project, which indicates that the clamor for more exhibition spaces has remained and that the health pandemic was only a temporary setback. The desire to capture more markets for exhibition continues to be strong,” Pascual said.
The company said it is also anticipating more foreign organizers to stage their shows in the Philippines in the coming years, citing the further reopening of international borders.