ICCA: Event venue revenue to surpass 2019 levels by 2023

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Worldwide, 28th April: The International Association of Conference Centres (ICCA) recently released its annual Meeting Room of the Future Barometer 2022, showing two-thirds of venues expect to recover to 2019 meeting revenue levels in 2022 or 2023.

According to the study, average meeting and business events revenue in 2021 was 45% lower than 2019 levels, and 2022 will bounce back to just 8% below 2019 levels. The study also showed the return to meetings weighted towards in-person interactions. The value of human interaction is ranked the highest of seven factors when considering attendance of in-person meetings. In 2021, 30% of respondents reported that more than 90% of their live meetings and events also offered virtual access; that figure dropped to 19% in 2022.

Meorient reduces loss in Q1

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Hangzhou, 29th April: Last week, Meorient, one of the few publicly-traded exhibition organisers in China, released its results for the quarter ended 31st March 2022. Revenues increased by 12% year-on-year, reaching US$4.6 million.

The company posted a net loss of US$2.7 million in the three-month period, compared with a net loss of US$2.8 million in the first quarter in 2021. Management did not comment on the increase in revenues.

Netsun’s revenues up, profit down in FY2021

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Hangzhou, 29th April: Shenzhen-listed Zhejiang Netsun announced its results for the year ended 31st December 2021, reporting revenues of US$73 million. This represents a year-on-year increase of 24%. However, net profit in 2021 dropped 39%, down to US$3.6 million. Diluted earnings per share in 2021 were RMB 0.09 (US$0.014).

The company attributed the growth in revenue to increasing income from the B2B trading platform. The decrease in profit was due to a decline in income from the network service industry.

Made-in-China.com profits up 108% in Q1

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Nanjing, 30th April: Also last week, Focus Technology, operator of the B2B sourcing platform Made-in-China.com, reported revenues of US$54 million in the quarter ended 31st March 2022, representing year-on-year growth of 6.3% compared with the first quarter of 2021.

The company’s net profit jumped 108% year-on-year, reaching US$6.4 million in the quarter. Diluted earnings per share in the three-month period were RMB 0.13

Quick takes

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Paul Woodward appointed chairman of Konduko

After advising Swiss-based event technology business, Konduko, since 2016 and more recently serving on its Board of Directors, industry veteran and former UFI managing director Paul Woodward is to become its chairman. Best of luck with the new venture, Paul!

 

Global Exhibitions Day on 1 June 2022

Just four weeks away, Global Exhibitions Day (GED) 2022 focuses on the irreplaceable value of physical exhibitions and face-to-face business events in bringing people together, creating opportunities and driving the economy. For more information, visit www.globalexhibitionsday.org.

 

Events Picking Up in the Philippines

Since opening its borders and allowing venues to operate at full capacity a few months ago, the Philippines is seeing the return of international business. Although 90% of events at SMX Convention Center Manila are local, they are drawing international exhibitors.

 

Peter King to Leave Melbourne CEC

Chief executive of Melbourne Convention and Exhibition Centre (MCEC) Peter King has announced that he will be leaving his role after 11 years. In 2018, King led a US$145.3 million renewable-energy-powered venue expansion project, making MCEC the largest centre of its kind in the southern hemisphere at 70,000 m2.

 

GL Events exhibition business doubles in Q1

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Lyon, 21st April: Last week, GL Events released its financial results for the quarter ended 31st March 2022. Revenues at GL Events Exhibitions reached €40 million (US$46 million), which is double the figure of the first quarter in 2021. Management notes that this was largely driven by contributions from exhibitions held in France.

GL Events’ group revenues jumped 130% in the quarter, hitting €220 million (US$249 million). In terms of its key business sectors, GL Events Live generated €125 million (US$142 million), up 83% year-on-year. While GL Events Venues posted annual revenues of €55 million (US$62 million) - which is more than five times the figure in the same quarter of 2021.

DLG’s revenues down 37% in Q1

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Shanghai, 26th April: Earlier this week, Shanghai-listed DLG Exhibitions (formerly Shanghai Lansheng) released its financial results for the quarter ended 31st March 2022. Revenues in the quarter were just US$6.3 million. That represents a year-on-year decrease of 37%.

The company posted a net loss of US$13 million in the quarter, compared with a loss of just over US$8 million in the same quarter in 2021.

Messe Frankfurt reschedules two shows in China

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Chengdu/Tianjin, 22nd April: International exhibition organiser, Messe Frankfurt, will reschedule two of its mobility and logistics fairs in China due to the Central government’s strict COVID-19 prevention and control measures in key cities.

CAPAS Chengdu will now be held from 18th to 20th August 2022, moved from its original dates of 19th to 21st May 2022. The other Messe Frankfurt show that will be rescheduled is Auto Maintenance and Repair Expo (AMR), which will take place in Tianjin running from 23rd to 26th March 2023.

Singapore drops most restrictions

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Singapore, 25th April: Singapore is essentially dropping most of its COVID-19 restrictions. Travellers who are fully vaccinated against COVID-19 will no longer need to take any COVID-19 test or quarantine to enter the country. In Singapore government-speak, Singapore “will lower its Disease Outbreak Response System Condition (DORSCON) alert levels as of 26th April.”

According to Singapore’s Ministry of Health, the launch of the new “Vaccinated Travel Framework” allows all fully vaccinated travellers to enter Singapore without serving a Stay-Home Notice (SHN) or even applying for entry approvals.

Quick takes

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Alibaba to take Lazada to Europe

Partly in response to its slowing growth rates in China, Alibaba has announced plans to take Lazada, its South East Asian subsidiary, to Europe. This follows the opening a major logistics hub in Belgium last November through the Alibaba subsidiary, Cainiao. That facility will reportedly be the largest of its kind in Europe.

 

Hong Kong increasingly isolated and alone

As most Asia markets drop COVID restrictions, Hong Kong stands increasing isolated as it maintains a mandatory seven-day hotel stay for returning residents and visitors alike. George Cautherley of the International Chamber of Commerce in Hong Kong stated, “To have to have someone in quarantine for seven days on a business trip simply isn’t really financially viable.” If only the Hong Kong government shared that rather sensible view.

 

Significant recovery in the Philippines’ tourism trade

In happier, more sane news, the Philippines, which opened its borders last month, looks to be on the road to a rapid recovery in terms of tourism and travel. This is according to a new report released by the World Travel & Tourism Council (WTTC).

 

New venue opens in Taiwan

The grand opening of ICC Tainan was held on 21st April in Tainan, located on the southwest coast of the island. Taiwan’s Ministry of Economic Affairs (MOEA) funded the venue and aims to use it to highlight the local economy’s strengths in high-tech enterprises, research and development as well as green technology.

Quick takes

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AIME returns to form

This edition of the BSG newsletter is the first in many, many months that feels like all good news! Continuing with that theme: Matt Pearce from the team at Talk2 Media & Events is very pleased with the result of AIME, which was held in Melbourne last month.

 

South Korea drops most COVID restrictions

As of 18th April, South Korea dropped curfews and restrictions on private gatherings. Mass gatherings of more than 300 are permitted once again. Venue capacity limitations have been removed. Social distancing rules have been dropped, as has quarantine for vaccinated visitors.

 

Hyve announces U.S. fintech acquisition

The Hyve Group may have lost 30% of its revenues with the collapse of its Russian portfolio, but CEO Mark Shashoua is looking to the future with Fintech Meetup. According to the company, this acquisition “forms part of a plan to create the biggest and best in-person and virtual fintech events.”

 

RELX releases 2022 trading update

Exhibitions now account for just 7% of RELX’s group revenues compared with its risk business (34% of revenues), scientific, technical and medical (37%) and legal (22%). Events have never looked less essential to the RELX portfolio.

 

UFI unveils recipients of Next Generation Leadership grant

A jury of exhibition industry leaders chaired by UFI president Monica Lee-Müller has selected the winners of the UFI Next Generation Leadership grant. The initiative focuses on “developing a new talent narrative for the exhibition industry.” There were a record number of applications this year, and as a result, UFI agreed to award a total of six grants this year.

Messe Frankfurt launches Paperworld India 2022

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India, 4th April: International organiser, Messe Frankfurt, will launch its Paperworld India next month, bringing the Indian stationery industry together at its three-day exhibition.

Paperworld India will be held from 12th to 14th May 2022 at Jio World Convention Centre (JWCC), and will be held alongside the Corporate Gifts Show and Interior Lifestyle India presented by Ambiente India.

BCEC secures 77 new conventions

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Brisbane, 19th April: The Brisbane Convention & Exhibition Centre (BCEC) has confirmed that it secured 77 new conventions, which will generate an estimated A$144 million (US$193 million) for the Queensland economy.

The events will support some of the state’s key sector industries including technology, transport, population, healthcare, science and research. It is expected the events will attract more than 50,000 delegates to Brisbane and benefit local businesses across Queensland’s hospitality and tourism sectors.

KLCC to host over 20 international events this year

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Kuala Lumpur, 15th April: Malaysia recently re-opened its international borders. On the back of that news, the Kuala Lumpur Convention Centre (KLCC) will host a total of 117 business and entertainment events by the end of December this year – including over 20 international events, 10 conventions and 13 exhibitions.

Some of the events to be held at KLCC this year include the International Congress on Infectious Diseases (ICID) 2022; International Conference on Tropical Agriculture (ICTA) 2022; International Geoscience and Remote Sensing Symposium (IGARSS) 2022; Asia Turbomachinery & Pump Symposium (ATPS) 2022; 3rd Asia Optometric Congress 2022; International Medical Exhibition & Conference (IMEC EXPO) 2022; International Café & Beverage Show 2022; Control World Expo, Oil & Gas Asia 2022; and International Invention, Innovation & Technology Exhibition (ITEX) 2022.

Singapore prioritises business events for recovery

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Singapore, 19th April: The Singaporean government has announced a S$500 million (US$368 million) subsidy to support the recovery of Singapore’s travel industry – placing emphasis on new unique attractions, and events with a sustainability and business tourism focus.

Although the government expects a full recovery of international travel will take several years, this subsidy is expected to speed the recovery of Singapore’s tourism and events sector in the short-term. This news follows the opening of Singapore’s borders on 1st April to fully vaccinated travellers, without requiring COVID-19 testing or quarantine on arrival.

TCEB holds first FAM trip in two years

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Thailand, 11th April: The Thailand Convention and Exhibition Bureau (TCEB) held its first international FAM trip in two years. The 2022 Thailand MICE Familiarization Trip was organised for international delegates. It attracted 43 entrepreneurs from various part of the MICE industry. Delegates arrived from 15 countries and regions.

The FAM trip was made possible due to the Thai government’s easing of COVID restrictions and reopening the country to international visitors. TCEB focused on introducing the delegates to key MICE venues and attractions in Bangkok and Phuket.