Key information about Iceland Real GDP Growth

• The Gross Domestic Product (GDP) in Iceland expanded 6.1 % YoY in Mar 2023, following a growth of 4.2 % in the previous quarter.
• Real GDP Growth YoY data in Iceland is updated quarterly, available from Mar 1996 to Mar 2023, with an average rate of 3.9 %.
• The data reached an all-time high of 12.9 % in Mar 1999 and a record low of -10.9 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP. Statistics Iceland provides Real GDP in local currency, at chain linked 2015 prices.


Related information about Iceland Real GDP Growth

• In the latest reports, Nominal GDP of Iceland reached 7.2 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 6.1 % in Mar 2023.
• GDP Per Capita in Iceland reached 72,684.2 USD in Dec 2022.
• Its Gross Savings Rate was measured at 22.2 % in Mar 2023.
• For Nominal GDP contributions, Investment accounted for 24.7 % in Mar 2023.
• Public Consumption accounted for 25.5 % in Mar 2023.
• Private Consumption accounted for 52.3 % in Mar 2023.

Key information about Iceland Market Capitalization: % of GDP

• Iceland Market Capitalization accounted for 68.8 % of its Nominal GDP in Dec 2024, compared with a percentage of 60.3 % in the previous year
• Iceland Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1994 to Dec 2024
• The data reached an all-time high of 211.3 % in Dec 2006 and a record low of 7.5 % in Dec 1994

CEIC calculates Market Capitalization as % of Nominal GDP from monthly Market Capitalization and annual Nominal GDP. Nasdaq Iceland provides Market Capitalization in local currency. Statistics Iceland provides Nominal GDP in local currency. Market Capitalization as % of Nominal GDP prior to 2006 is sourced from the World Bank

From 2011 to 2022, Sweden had the highest gross domestic product (GDP) of the Nordic countries. In 2022, it was estimated to be at 591 billion U.S. dollars, and is expected to reach almost 720 billion in 2027. Norway had the second highest GDP in this time period, but it dropped significantly after the fall in the oil price in 2014. Denmark has consistently been the third largest Nordic economy in this time. Iceland has the lowest GDP in the region, with just 28 billion U.S. dollars in 2022; around 10 percent the size of Finland's.

The Iceland Facility Management Market is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 2.20% from 2025 to 2033. While the precise market size for 2025 is not provided, considering the average size of similar markets in comparable Nordic countries and a CAGR of 2.20%, a reasonable estimate for the 2025 market size would fall within the range of 70-90 million USD. This growth is driven by several key factors. Increasing urbanization in Iceland's major cities is leading to higher demand for efficient facility management services in commercial and residential sectors. The tourism sector's continued expansion also fuels this growth, necessitating robust maintenance and operational support for hotels, resorts, and other tourist facilities. Furthermore, a growing focus on sustainability and energy efficiency within the Icelandic business landscape is driving investment in advanced facility management technologies and practices. This includes increased adoption of smart building technologies and environmentally friendly cleaning solutions.
However, the market faces some restraints. The relatively small size of the Icelandic economy and the inherent challenges of operating in a geographically dispersed and sometimes harsh climate can limit expansion opportunities for some firms. Fluctuations in tourism numbers, a significant driver of facility management demand, also pose a potential risk to market stability. Despite these challenges, the long-term outlook for the Iceland facility management market remains positive, driven by a combination of economic growth, infrastructural development, and a heightened awareness of the importance of efficient and sustainable facility operations. Key players like MainManager (Orn Software ehf), Diversey Holdings Ltd, BG Cleaning, and Jolly Harbour are well-positioned to capitalize on these opportunities. Key drivers for this market are: Growing Trend of Smart Buildings, Steady Growth in Commercial Real Estate Sector; Increasing Demand of Energy Management Services. Potential restraints include: Lack of Skilled Workforce. Notable trends are: Integrated Facility Management to have a significant share.

With a Gross Domestic Product of over 4.3 trillion Euros, the German economy was by far the largest in Europe in 2024. The similarly sized economies of the United Kingdom and France were the second and third largest economies in Europe during this year, followed by Italy and Spain. The smallest economy in this statistic is that of the small Balkan nation of Montenegro, which had a GDP of 7.4 billion Euros. In this year, the combined GDP of the 27 member states that compose the European Union amounted to approximately 17.95 trillion Euros. The big five Germany’s economy has consistently had the largest economy in Europe since 1980, even before the reunification of West and East Germany. The United Kingdom, by contrast, has had mixed fortunes during the same period and had a smaller economy than Italy in the late 1980s. The UK also suffered more than the other major economies during the recession of the late 2000s, meaning the French economy was the second largest on the continent for some time afterward. The Spanish economy was continually the fifth-largest in Europe in this 38-year period, and from 2004 onwards, has been worth more than one trillion Euros. The smallest GDP, the highest economic growth in Europe Despite having the smallerst GDP of Europe, Montenegro emerged as the fastest growing economy in the continent, achieving an impressive annual growth rate of 4.5 percent, surpassing Turkey's growth rate of 4 percent. Overall,this Balkan nation has shown a remarkable economic recovery since the 2010 financial crisis, with its GDP projected to grow by 28.71 percent between 2024 and 2029. Contributing to this positive trend are successful tourism seasons in recent years, along with increased private consumption and rising imports. Europe's economic stagnation Malta, Albania, Iceland, and Croatia were among the countries reporting some of the highest growth rates this year. However, Europe's overall performance reflected a general slowdown in growth compared to the trend seen in 2021, during the post-pandemic recovery. Estonia experienced the sharpest negative growth in 2023, with its economy shrinking by 2.3% compared to 2022, primarily due to the negative impact of sanctions placed on its large neighbor, Russia. Other nations, including Sweden, Germany, and Finland, also recorded slight negative growth.

Key information about Iceland Private Debt: % of Nominal GDP

• Iceland Private Debt accounted for 89.84 % of its Nominal GDP in Dec 2024, compared with a ratio of 90.66 % in the previous quarter
• Iceland Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Dec 1995 to Dec 2024, with an average share of 92.45 %
• The data reached an all-time high of 207.31 % in Sep 2008 and a record low of 39.61 % in Dec 1995

CEIC calculates quarterly Private Debt as % of Nominal GDP from monthly Private Debt and quarterly Nominal GDP. Private Debt is calculated as the sum of Loans to Non Financial Corporations, Households and NPISHs. The Central Bank of Iceland provides Private Debt in local currency. Statistics Iceland provides Nominal GDP in local currency.

Key information about Iceland Labour Force Participation Rate

• Iceland Labour Force Participation Rate increased to 79.8 % in Dec 2024, compared with 78.0 % in the previous month.
• Iceland Labour Force Participation Rate is updated monthly, available from Jan 2003 to Dec 2024, with an average rate of 79.9 % .
• The data reached the an all-time high of 86.2 % in Jul 2007 and a record low of 73.4 % in Apr 2020.
• Iceland Labour Force Participation Rate is reported by reported by Statistics Iceland.
• In the latest reports, Iceland Population reached 0.4 million people in Dec 2023.
• Unemployment Rate of Iceland increased to 3.3 % in Dec 2024.
• The country's Monthly Earnings stood at 6,908.7 USD in Dec 2023.

The market size of currency circulating in the economy of Iceland grew in recent years, nearly reaching ***** percent of GDP in 2019. This so-called CIC/GDP ratio roughly measures the use of cash money in the country. Due to the anonymity of cash transactions, sources struggle to find exact volumes on this. The ratio mentioned here is quite popular in that regard, as the data it needs is relatively easy to find. Some industry experts mention, however, that this ratio is too general and does not necessarily reflect retail payments.

Material recovery service providers have contended with numerous economic headwinds in recent years, ranging from subdued economic growth during the cost-of-living crisis and the high base rate environment as central banks aimed to curb spiralling inflation. Revenue is expected to grow at a compound annual rate of 4.1% over the five years through 2025 to €120.7 billion, including an estimated dip of 0.7% in 2025. Demand for material recovery services is highly contingent on downstream construction, mining and manufacturing sectors producing hefty waste. Since the end of the pandemic, high interest rates have ramped up the cost of borrowing while building material costs skyrocketed, putting off many developers from beginning projects and weighing on construction activity. Subdued economic growth has also hit the manufacturing sector, eroding demand for material recovery services. According to the European Commission, 527 kilograms (kg) of municipal waste per capita was generated in the EU in 2021, while 49% of municipal waste in the EU was recycled. This figure declined to 511kg of municipal waste per capita generated in 2023, with 48% of waste being recycled. The decrease in municipal waste per capita suggests a potential shift towards more sustainable consumption and production patterns. This can positively influence the quality of materials recovered, as higher-quality waste streams may become available for recycling. Decreased waste generation and stagnating recycling rates also signify reduced available materials for recovery, which has impacted revenue streams for companies reliant on high volumes. This stagnation might indicate challenges in public engagement and infrastructure that need addressing to prevent further declines. However, growing recycling rates in the coming years are set to maintain demand, supported by government initiatives like the European Green Deal, which includes the Circular Economy Action Plan. Revenue is expected to climb at a compound annual rate of 3.1% over the five years through 2030 to €140.9 billion. Economic conditions are set to improve in the short term as inflationary pressures subside, allowing central banks to adopt looser monetary policy and support GDP growth. This will drive downstream construction and manufacturing sector activity in the short term, lifting demand for material recovery services. The growing emphasis on sustainability will also persist in the coming years as countries across Europe strive for a circular economy, driving demand and supporting revenue growth.

Abstract

The Global Findex 2025 reveals how mobile technology is equipping more adults around the world to own and use financial accounts to save formally, access credit, make and receive digital payments, and pursue opportunities. Including the inaugural Global Findex Digital Connectivity Tracker, this fifth edition of Global Findex presents new insights on the interactions among mobile phone ownership, internet use, and financial inclusion.

The Global Findex is the world’s most comprehensive database on digital and financial inclusion. It is also the only global source of comparable demand-side data, allowing cross-country analysis of how adults access and use mobile phones, the internet, and financial accounts to reach digital information and resources, save, borrow, make payments, and manage their financial health. Data for the Global Findex 2025 were collected from nationally representative surveys of about 145,000 adults in 141 economies. The latest edition follows the 2011, 2014, 2017, and 2021 editions and includes new series measuring mobile phone ownership and internet use, digital safety, and frequency of transactions using financial services.

The Global Findex 2025 is an indispensable resource for policy makers in the fields of digital connectivity and financial inclusion, as well as for practitioners, researchers, and development professionals.

Geographic coverage

National Coverage

Analysis unit

Individual

Kind of data

Observation data/ratings [obs]

Sampling procedure

In most low- and middle-income economies, Global Findex data were collected through face-to-face interviews. In these economies, an area frame design was used for interviewing. In most high-income economies, telephone surveys were used. In 2024, face-to-face interviews were again conducted in 22 economies after phone-based surveys had been employed in 2021 as a result of mobility restrictions related to COVID-19. In addition, an abridged form of the questionnaire was administered by phone to survey participants in Algeria, China, the Islamic Republic of Iran, Libya, Mauritius, and Ukraine because of economy-specific restrictions. In just one economy, Singapore, did the interviewing mode change from face to face in 2021 to phone based in 2024.

In economies in which face-to-face surveys were conducted, the first stage of sampling was the identification of primary sampling units. These units were then stratified by population size, geography, or both and clustered through one or more stages of sampling. Where population information was available, sample selection was based on probabilities proportional to population size; otherwise, simple random sampling was used. Random route procedures were used to select sampled households. Unless an outright refusal occurred, interviewers made up to three attempts to survey each sampled household. To increase the probability of contact and completion, attempts were made at different times of the day and, where possible, on different days. If an interview could not be completed at a household that was initially part of the sample, a simple substitution method was used to select a replacement household for inclusion.

Respondents were randomly selected within sampled households. Each eligible household member (that is, all those ages 15 or older) was listed, and a handheld survey device randomly selected the household member to be interviewed. For paper surveys, the Kish grid method was used to select the respondent. In economies in which cultural restrictions dictated gender matching, respondents were randomly selected from among all eligible adults of the interviewer’s gender.

In economies in which Global Findex surveys have traditionally been phone based, respondent selection followed the same procedure as in previous years, using random digit dialing or a nationally representative list of phone numbers. In most economies in which mobile phone and landline penetration is high, a dual sampling frame was used.

The same procedure for respondent selection was applied to economies in which phone-based interviews were being conducted for the first time. Dual-frame (landline and mobile phone) random digit dialing was used where landline presence and use are 20 percent or higher based on historical Gallup estimates. Mobile phone random digit dialing was used in economies with limited or no landline presence (less than 20 percent). For landline respondents in economies in which mobile phone or landline penetration is 80 percent or higher, respondents were selected randomly by using either the next-birthday method or the household enumeration method, which involves listing all eligible household members and randomly selecting one to participate. For mobile phone respondents in these economies or in economies in which mobile phone or landline penetration is less than 80 percent, no further selection was performed. At least three attempts were made to reach the randomly selected person in each household, spread over different days and times of day.

Research instrument

The English version of the questionnaire is provided for download.

Sampling error estimates

Estimates of standard errors (which account for sampling error) vary by country and indicator. For country-specific margins of error, please refer to the Methodology section and corresponding table in: Klapper, Leora, Dorothe Singer, Laura Starita, and Alexandra Norris. 2025. The Global Findex Database 2025: Connectivity and Financial Inclusion in the Digital Economy. Washington, DC: World Bank. https://doi.org/10.1596/978-1-4648-2204-9.

Key information about Iceland Market Capitalization

• Iceland Market Capitalization accounted for 21.480 USD bn in Feb 2025, compared with a percentage of 22.334 USD bn in the previous month
• Iceland Market Capitalization is updated monthly, available from Jan 2006 to Feb 2025
• The data reached an all-time high of 60.068 USD bn in Jul 2007 and a record low of 1.253 USD bn in Apr 2009

CEIC converts monthly Market Capitalization into USD. Nasdaq Iceland provides Market Capitalization in local currency. The Central Bank of Iceland period end market exchange rate is used for currency conversions.

Key information about Iceland Foreign Exchange Reserves: % of GDP

• Iceland Foreign Exchange Reserves: % of GDP was reported at 16.611 % in Sep 2025
• This records an increase from the previous number of 16.406 % for Jun 2025
• Iceland Foreign Exchange Reserves: % of GDP data is updated quarterly, averaging 25.733 % from Dec 2000 to Sep 2025, with 100 observations
• The data reached an all-time high of 52.897 % in Dec 2011 and a record low of 3.681 % in Mar 2003
• Iceland Foreign Exchange Reserves: % of GDP data remains active status in CEIC and is reported by CEIC Data
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Foreign Exchange Reserves: % of Nominal GDP: Quarterly

CEIC calculates quarterly Foreign Exchange Reserves as % of Nominal GDP from monthly Foreign Exchange Reserves and quarterly Nominal GDP. The Central Bank of Iceland provides Foreign Exchange Reserves in local currency. Statistics Iceland provides Nominal GDP in local currency.

Iceland IS: GDP: % of GDP: Gross Value Added: Industry: Manufacturing data was reported at 9.291 % in 2016. This records a decrease from the previous number of 9.955 % for 2015. Iceland IS: GDP: % of GDP: Gross Value Added: Industry: Manufacturing data is updated yearly, averaging 11.207 % from Dec 1997 (Median) to 2016, with 20 observations. The data reached an all-time high of 13.584 % in 1997 and a record low of 7.851 % in 2007. Iceland IS: GDP: % of GDP: Gross Value Added: Industry: Manufacturing data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Iceland – Table IS.World Bank: Gross Domestic Product: Share of GDP. Manufacturing refers to industries belonging to ISIC divisions 15-37. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Note: For VAB countries, gross value added at factor cost is used as the denominator.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average; Note: Data for OECD countries are based on ISIC, revision 4.

Technical testing and analysis companies provide crucial services to companies in all sectors of the economy. The construction, industrial production and energy sectors are the major markets for these services. These sectors rely on broader economic conditions, which often dictate their demand for testing and analysis services. The COVID-19 outbreak at the beginning of the previous five-year period, along with the subsequent inflationary environment, has significantly impacted construction and manufacturing output, reducing demand for testing and analysis services. However, the energy and IT sectors have increased their levels of demand in recent years, propping up revenue. Revenue is projected to grow at a compound annual rate of 2.7% to €79.7 billion over the five years through 2025, including an estimated rise of 2.8% in 2025. The reduced level of industrial production and construction activity limited spending on testing services in 2020. As conditions improved and activity in the manufacturing and construction sectors rebounded, the need for materials and products to be tested surged. However, soaring inflation and heightened economic uncertainty have weakened spending on technical testing and analysis services as output in downstream markets has suffered. However, as interest rates have been falling across Europe over the past two years through 2025, cheaper borrowing costs will support demand from the construction and industrial sectors, as more projects become financially feasible. Rising costs in 2025, driven by the introduction of tariffs from the US, have led to higher input expenses, including chemicals, which have hindered profit growth for the industry in 2025. Improving economic conditions and lower European inflation rates will stimulate greater investment and business spending, with demand for technical testing and analysis following suit. Government funding and initiatives supporting the manufacturing, nuclear energy and construction sectors will further bolster demand. Environmental efforts, driven by the EU and UK's sustainability targets, will also generate an uptick for testing services as businesses strive to achieve accreditations and comply with regulations. Investments in advanced technology like AI, drones and telecommunication infrastructure will boost the need for comprehensive testing, especially in cybersecurity due to increasing threats. A growing number of testing and analysis companies will consequently expand their capabilities to capitalise on these opportunities. Revenue is forecast to expand at a compound annual rate of 7.1% to €112.5 billion over the five years through 2030.

The Computer and Peripheral Equipment Wholesaling industry is characterised by fierce competition, with wholesalers having to offer the latest technology if they want to survive. The industry has contended with numerous economic headwinds like slowing economic growth and rock-bottom confidence, hurting demand in recent years. While slow economic growth and low confidence recently curbed corporate IT spending, government investments in infrastructure and defence are now giving companies more reasons to update their tech. As things pick up, wholesalers should consider teaming up with major tech brands or software providers to get better deals and expand their offerings, moves that could really help drive sales in a more upbeat market. Revenue is expected to inch upward at a compound annual rate of 0.7% over the five years through 2025 to €457.2 billion, including an estimated growth of 1.4% in 2025, while the average industry profit margin is forecast to be 5.5%. Over the past decade, the trend of wholesale bypass has gathered momentum, with manufacturers looking to widen their profit margin and sell directly to end markets. This hit demand for computer and peripheral equipment wholesalers. Wholesalers have also contended with slowing downstream markets amid bleak economic conditions. However, wholesalers are trying to come up with new business models to sustain revenue and profit. More wholesalers are turning to subscription models, like cloud-based software, for more predictable revenue and easier cost management, especially for small businesses across Europe. While this shift makes budgeting simpler and helps companies avoid big upfront costs, it’s also putting pressure on profit margins for those still focused on selling physical equipment. Revenue is expected to grow at a compound annual rate of 5.6% over the five years through 2030 to €601.4 billion. In the short term, economic conditions are set to improve as inflationary pressures subside and central banks loosen monetary policy, supporting expenditure on computers and peripheral equipment. The growing importance of automation will also support demand for computers among businesses, which are required to handle the large quantities of data that AI generates.

The Information and Communication Equipment retailing industry has benefitted from the digitisation of economies across Europe, with businesses expanding on their online offerings to capitalise on the growing e-commerce market. Most large countries enjoy high smartphone usage, providing retailers with a broad customer base and steady demand for device upgrades. However, some regions in Eastern Europe still see lower adoption rates. Retailers can boost their presence in these areas by targeting price-sensitive customers with flexible payment plans and promotions tailored to local preferences. This strategy increases sales without requiring customers to make large upfront payments, helping device retailers achieve ongoing revenue growth. Despite this, numerous economic headwinds plagued growth in the two years through 2023, ranging from a tightening cost of living to rising purchase costs from upstream suppliers. Revenue is anticipated to fall at a compound annual rate of 1% over the five years through 2025 to €101.6 billion, including an estimated hike of 1.6% in 2025, while the average industry profit margin is forecast to be 4.1%. The tech boom was short-lived, as economic growth slowed substantially over the two years through 2023 amid inflationary pressures and the rising base rate environment. This caused consumers to tighten their purse strings and resulted in a decline in businesses' investment towards IT capabilities as the cost of borrowing picked up and growth prospects vanished. However, this also presented opportunities for retailers to offer cheaper second-hand technology. Premium-priced products, like iPhones, were also less exposed to the tightening cost-of-living squeeze, supporting revenue growth. In 2025, the 5G market in Europe keeps growing, with rapid network expansion driving sales of high-end smartphones. Demand for premium devices is up, thanks to 5G capabilities and attractive instalment plans from telecoms and retailers. Retailers and 5G providers now bundle phones with 5G service and perks, aiming for loyalty and higher revenue. Investment in infrastructure fuels ongoing device upgrades, especially in larger markets like Germany. Revenue is forecast to grow at a compound annual rate of 1.2% over the five years through 2030 to €107.9 billion. Improving economic conditions will lift revenue growth in the coming years, facilitating a resurgence in business and consumer confidence, which will drive demand for information and communication equipment. Retailers that cater to the growing market of environmentally conscious consumers will lead the industry in the coming years, purchasing products from manufacturers with eco-friendly production processes that seek to limit energy consumption and improve waste treatment.

Iceland recorded a trade deficit of 24233 ISK Million in October of 2025. This dataset provides the latest reported value for - Iceland Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The absolute economic contribution of tourism in Iceland was forecast to continuously increase between 2024 and 2029 by in total * billion U.S. dollars (+***** percent). After the ninth consecutive increasing year, the economic contribution is estimated to reach *** billion U.S. dollars and therefore a new peak in 2029. Depited is the economic contribution of the tourism sector in the country or region at hand.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to *** countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the absolute economic contribution of tourism in countries like Denmark and Norway.

Banks Balance Sheet in Iceland increased to 6171502 ISK Million in October from 6128255 ISK Million in September of 2025. This dataset provides - Iceland Central Bank Balance Sheet - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Revenue in Europe’s Convention and Trade Show Organisations industry is forecast to expand at a compound annual rate of 12.8% to €33 billion over the five years through 2025. The industry's revenue is influenced by broader economic conditions, with prospects for event sales primarily shaped by business budgets and clients' disposable incomes. The severe plunge in revenue due to the COVID-19 outbreak was subsequently counteracted by a substantial revival in revenue growth. This resulted from convention and trade show organisations resuming operations and adopting hybrid approaches, which attracted a more global attendance and expanded income opportunities. The industry has been weathered by unfavourable economic headwinds since the pandemic, as inflationary pressures hit the Eurozone, limiting significant investment into new projects, compounded by lacklustre business sentiment. The industry's key clientele is the commercial enterprises whose participation in events like trade shows and conventions mainly depends on their economic outlook. Private individuals are more likely to attend events during a positive consumer climate. This directly influences the appeal for companies to showcase themselves as exhibitors at trade shows. Inflationary pressures are set to ease over 2025, with promising signs of strengthening business and consumer sentiment, which will benefit the industry. In 2025, revenue is forecast to climb by 2.1%. Revenue is projected to swell at a compound annual rate of 7.3% over the five years through 2030 to €46.9 billion. The industry is set to benefit from Europe’s improving economy in the coming years as markets stabilise and clients begin to expand investment, requiring the services of convention and trade show organisations. The industry’s will increasingly be influenced by telecommunications and digitalisation after consumers were forced onto online teleconferencing amid COVID-19 disruptions to travel. Continued growth in online substitutes to the industry will prove detrimental to the industry, with convention and trade show organisations adapting by implementing their own digitalisation efforts. Moreover, sustainability initiatives will continue to gather pace as businesses strive to reach net zero emission targets in the coming years.