Recent developments in the business model of the exhibition industry in Italy
The article analyses the evolution of the fair industry in Italy since the outbreak of the financial crisis in 2008. In particular, the article examines the performance achieved by a sample of Italian exhibitions between 2008 and 2011 – at the apex of the financial crisis – and the strategies and the business model adopted/modified to respond to the crisis. In the years under consideration, the exhibitions analysed experienced a meaningful reduction in their economic performance. Larger exhibitions, however, suffered less than smaller exhibitions in terms of profitability. This may be due to the fact that larger exhibitions have successfully pursued an internationalization strategy that has, at least partially, balanced out the negative effects of the financial crisis. Smaller exhibitions may follow suit, or may decide to focus their activity on a small number of relevant events and exhibitions, in order not to disperse the few resources that the crisis has left them to count on.
Keywords: exhibition industry, Italy, financial crisis, profitability, internationalization, collaborative strategy.
