It'll be alright....

I'm in Cologne for UFI's Intenational Summer University programme and, at dinner last night in the Chocolate Museum (where, by the way, peppery black chocolate makes an interesting alternative to peanuts with cocktails), I heard again the general relief and, to some extent, suprise in the trade fair industry that it's so far doing OK.

There was a lot of nervousness at the beginning of the year that economic downturn would mean that 2008 was a really flat year. In most markets, so far, this hasn't really been the case. It's at worst solid and, in some cases, doing really well. Hmmmm. Will this last. That's now the question and I can sense the corporate types already rehearsing their budget padding speeches for the upcoming 2009 reviews. "Worst is yet to come boss"....

Meanwhile, Alibaba has reported a 136% surge in first half net profits. Revenues are up just 48% though, so I guess the collective Ali-belts have been tightened in the last six months. Mind you, given the generally skinny waists up there in Hangzhou, there can't be too many notches left to tighten.