Economic Value and Future Trends of the Trade Show Industry in Latvia

  • Abstract:

    Trade shows serve as a mirror for technical development, information exchange, the price ranges, the seller and buyer meeting place. This paper aims to explore the economic value and impact of the trade show industry in the world and trends that will shape the nearest future of trade shows in Latvia. Development of trade show industry in the world is obvious – the dynamic growth of the exhibition halls throughout the world clearly demonstrates it. Latvia geographically has a potential to become a significant Baltic States centre of the trade show and meeting industry, but the proper legal framework is needed, as well Baltic governments should cooperate and create conditions for sustainable development in the trade show field. The research concludes that this sector’s contribution to the world’s economy is several billion dollars per year, and the significance of trade shows is expected to grow in the automotive, IT, environmental protection and healthcare industries; also social media and new technologies, innovations will be more and more involved in the trade show organizing and exhibiting at the trade shows.