The Alicante Fair Organization, known as IFA, completed a seven year turnaround by moving 75 million euros of debt toward resolution and approving a significant recovery of more than 32,800 euros in the most recent financial period. This improvement forms a central part of the recovery plan overseen by the Generalitat, culminating in the transfer of all assets and liabilities to Fira Alacant SA, the newly formed entity slated to lead the fair into its next phase.
The practical result is a renewal of the cooperative spirit that has governed the fair, replacing the prior management under the association. Jose Luis Gisbert, who had chaired the fair for several years, was replaced as part of this transition. The new structure aims not only to safeguard the fair’s standing but also to broaden its activities. Early discussions include securing agreements with other operators to bring international competitions to the venue, a move currently under consideration with prospective partners from Frankfurt and Milan, among others, as reported by the Minister of Sustainable Economy, Raphael Climent, though no final deals have been sealed yet.
The upcoming Friday meeting follows IFA’s approval of the latest accounts, which show last year’s income at 3,082,000 euros. After dissolving the Generalitat’s debt tied to land ownership and earlier expansions, the organization managed to generate a profit of 32,800 euros. This positive result has been highlighted by the general manager, Beatrice Serrano, who notes that the result would have been higher if not for a later covid wave. The Exponadal event was suspended during the peak of the crisis, impacting potential revenue for that period.
The most recent IFA board session showcased the ongoing transition, with photographs capturing the moment and signaling the formal handover process that will culminate in a new era for the fair. In the coming year, projections suggest revenues around 3.2 million euros, while additional contributions from the Generalitat could amount to approximately 2.5 million to fund pavilion upgrades and installation work, as explained by Natxo Costa, the Undersecretary for Regional Economy.
Once the transfer of assets and liabilities to Fira Alacant is approved, the plan awaits ratification by the Consell on the upcoming Friday. If all goes according to plan, the operation could come into effect in the United States Trade Registry, with an official gazette dated February 28. A one month window will follow to address any disputes raised by affected parties, after which the new company is expected to assume definitive management by April 1, though some elements become effective from January 1. The entire sequence has been guided by the Elche consultant Gesem.
new commission
With the board majority of the new company comprised of public officials, a decision was made to establish a new body to oversee participation. A contest organizing committee is to be transformed into a formal body for business involvement within the fair’s governing structure. This shift aims to boost private sector engagement and streamline event planning, ensuring a more dynamic use of the venue.
Subsequent photographs from the latest IFA meeting show the ongoing momentum as staff and participants discuss the path forward. In this broader context, the minister emphasized that the goal is to strengthen the fair’s role as a lively engine of regional economy. The fair should actively serve the productive sectors, inviting local businesses to maximize use of the space, increase efficiency, and expand the calendar of events and congresses.
Climent noted that initial talks with event organizers in Frankfurt and Milan are part of a broader strategy. Alicante-based companies could gain from these partnerships by extending the reach of their products in new markets. This is viewed as a practical step to fortify the fair’s structure after the formal reorganization, with plans to strengthen the organization’s capacity to host larger and more diverse events.