The Art Basel fair, Switzerland’s most significant trade show, brings a touch of glamour to the city of Basel as leading contemporary art representatives from around the world gather in the city on the Rhine. With almost 300 galleries participating, art enthusiasts flock to Basel, boosting the local economy by dining in restaurants, staying in hotels and shopping in the city’s shops. This event has become a crucial economic factor for Basel, benefiting not only MCH, the trade fair company but also local businesses such as hotels, transport companies and tradespeople.
However, there are currently too few trade fairs in Basel with the same appeal as Art Basel, leaving MCH’s expensive infrastructure underutilized. The loss of the Baselworld watch fair five years ago has had a significant impact on MCH. Despite this setback, major watch and jewelry manufacturers have found alternative ways to engage with customers. As a result, MCH must rethink its trade fair strategy.
With accumulated losses over the past seven years and multiple personnel changes in management, MCH is struggling to regain trust. American billionaire James Murdoch has been relatively quiet about his plans for the company since joining the board of directors four years ago. Amidst concerns about MCH’s future, clarity from James Murdoch and company leadership is essential in rebuilding trust and ensuring a successful path forward for Switzerland’s largest trade fair company.
If MCH fails to turn things around, taxpayers cannot be expected to fund another capital increase or support other events at the exhibition center. Art lovers may find other events to attend elsewhere if they lose interest in this showcase of contemporary art.
In conclusion, it is vital that MCH works on its “Strategy 2030” plan to ensure its profitability and secure its future at one of Switzerland’s premier exhibition centers.
