Urban governance and participatory planning have been key concepts in the academic discourse, policy debates and international practice related to spatial planning, urban development and organization of mega-events. However, they are relatively absent in academic debates and international practice pertaining to trade fairs. This paper explores the links of urban governance and participatory planning with trade fair activity. It focuses on the case of Thessaloniki, where trade fair activity has a strong connection with the city and its citizens. Methodologically, this paper utilizes mixed research methods by conducting interviews with key actors, including representatives of TIF-HELEXPO and local institutions in Thessaloniki, and a questionnaire survey to explore the views of Thessaloniki citizens. The results show that a possible adoption of urban governance and participatory planning in trade fair activity can have significant benefits. Urban governance is likely to boost cooperation between stakeholders, while participatory planning can contribute to a greater acceptance of trade fairs by citizens. On these grounds, the paper suggests the adoption of urban governance and participatory planning as a new model of managing, organizing and planning trade fairs that can strengthen their links with the city.