INVESTMENT IN INTERNATIONAL TRADE FAIRS AND THE ECONOMIC RETURNS TO THE NATION (A CASE STUDY OF THE 19TH ENUGU INTERNATIONAL TRADE FAIR)

INVESTMENT IN INTERNATIONAL TRADE FAIRS AND THE ECONOMIC RETURNS TO THE NATION (A CASE STUDY OF THE 19TH ENUGU INTERNATIONAL TRADE FAIR)

ABSTRACT

The Purpose of this study was to investigate whether the huge investment on international trade fairs in Nigeria can be justified by the economic returns from it. In pursuance of this investigation, research objectives and hypotheses were formulated in chapter one. Related literatures were reviewed in chapter two. Research methodology describing the respondent, method of data collection, sample size and sample procedure was stated in chapter three. The researcher used survey method and stratified sampling techniques.  Yamenes method of sampling was then used to determine the sample size. The data was collected through the use of questionnaires and a sample of one hundred and twenty four (124) respondents was used. Only one hundred and ten (110) questionnaires were completed and returned. The data was analyzed and tested using Z-test in chapter four. Discussion of findings, conclusion, recommendation, suggestion for further studies and limitation were stated in chapter five. However, some of the findings put forward include:  (a) That international trade fairs are effective ways of promoting product or services, though Nigerian businessmen and women are yet to appreciate and make use of the opportunity. (b)The international trade fair encouraged the transfer of technology among the participating countries. (c)The investment committed into international trade fairs is justified when compared with the economic returns to the nation. (d) There is no much “international” about the international trade fairs in Nigeria as most products and services exhibited in the just concluded 20th Enugu international trade fair were made in Nigeria. Sequel to the research findings, the researcher made the following amongst other recommendations: (a) That government’s intervention in the planning and organization of trade fair is of paramount important considering the huge fund involved, rather than vesting the responsibility on the various chambers of commerce. (b) That organizers should provide adequate facilities (such as water, electricity extra) at the fair arena to enable exhibitors and participants transact business without hindrances. (c)  Creation of international awareness is eminent in other to attract those nations and organizations that had made names in technological development as this will not only raise the status of trade fair in Nigeria, but help in our quest for technological development.