Fair industry in Peru generates US$5.6 billion annually

Fair industry’s economic impact continued to grow over recent years, and related events generated US$5.6 billion in transactions and investments in 2018, according to statistics released by Peru’s Fair Association (AFEP).

Likewise, fairs have created more than 30,000 direct and indirect jobs and drawn 1,800,000 attendees.

“In 2016, we collected information from top fairs, and findings showed the industry generated US$5.292 billion (of economic activity), thus accounting for 2.65% of GDP,” AFEP head Luisa Mesones explained.

“Now, the figure has increased to US$5.6 billion and makes up 2.84% of GDP,” she added.

Out of the total (US$5.6 billion), some US$5 billion came from transactions conducted at the 40 leading fairs held nationwide between AFEP members and non-members.

Furthermore, US$500.5 million is the amount spent by buyers and foreign visitors, US$41.3 million was allocated to the design and construction of stands, and US$35 million represents the contribution of fair organizers.

Mesones emphasized that the number of fair visitors increased from 1.2 million in 2015 to 1.8 million in 2018, that is to say, 600,000 additional visits were made last year.

“This constitutes a significant growth, which means the fair industry concept is becoming more popular among visitors,” she stated.


Fuente: Andina

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