New subway station serving HKCEC

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Hong Kong, 5th May: There is a bit of much needed good news from Hong Kong. Finally, a new train station serving the Hong Kong Convention and Exhibition Centre (HKCEC), named Exhibition Centre MTR station, will open on 15th May.

After the official opening of the Exhibition Centre MTR station this weekend, HKCEC will be more easily accessible for delegates staying at hotels in Kowloon and the New Territories. The new station is located at the East Rail Line Cross-Harbour Extension, providing a third rail link across Victoria Harbour and connecting HKCEC to Hung Hom on the Kowloon side of the harbour.

Seoul reveals MICE support plans

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Seoul, 9th May: The Seoul Metropolitan Government and the Seoul Tourism Organization have recently revealed its plans to support the recovery of the business events industry in Korea in 2022.

Under the new plan, international conferences with more than 20% of the delegates attending on-site will receive up to a maximum of US$157,000. The support for the international conference delegate and speaker invitations has also been increased to a maximum of US$47,000. In terms of exhibition support, a total of more than 30 selected exhibitions will receive up to a maximum of US$63,000. The support will be used to help support online marketing, live streaming and other tech platforms during the exhibitions.

Hannover Milano Fairs to co-organise tourist exhibition in Chengdu

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Chengdu, 11th May: Hannover Milano Fairs Shanghai (HMFS), the Chinese subsidiary of international exhibition organiser, Deutsche Messe, and CMEC International Exhibition (CMEC EXPO) signed a strategic cooperation to co-organise a tourist exhibition serving Southwest China, the Chengdu International Culture and Tourism Exhibition. The two companies aim to develop the event into a “high-end culture and tourism fair in Southwest China and facilitate the growth of the regional cultural tourism markets.”

The exhibition is scheduled to run from 25th to 27th November 2022 at the Chengdu Century City New International Convention and Exhibition Center. The inaugural theme will be “Exploring the Panda Homeland, Enjoying Sichuan Life.”

Foundry launches Network World Asia

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Singapore, 5th May: Foundry (formerly IDG Communications) announced plans to expand its Network World into Asia by launching Network World Asia.

Network World is a content, lead generation and event resource for data centre managers building modern enterprise data centres. Network World has provided domain expertise on the modern enterprise data centres to help technology decision-makers make the best purchasing decisions for their organisations.

Quick takes

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Japan moves toward tentatively opening

The Prime Minister of Japan indicated that the country is planning to re-open its borders to international tourists beginning in June. Prime Minister Funmio Kishida stated that the country plans a “period of transition back to normal life.” The ban on foreign tourists would be eased in stages with arrivals having to show proof of three vaccination shots.

ICC Sydney aims to hit pre-COVID numbers

Management at ICC Sydney expects to host about 600 events during in 2022 – including business events aimed at global audiences. The open question is when China participants will return and if those numbers will recover to pre-COVID levels.

Malaysia removes most restrictions

As of 1st May, COVID-19 insurance is no longer a requirement to enter Malaysia. In addition, fully vaccinated travellers no longer have to undergo PCR tests before and after arrival. Business events are not required to enforce physical distancing and all economic sectors in the country are allowed to re-open. Good news, indeed.

A different Ma

Ma is a common surname in China, but when a person in Hangzhou named Ma was detained by Chinese security authorities, Alibaba’s stock lost billions in market value. It turns out that Jack was not detained. It was someone else. Oops. That was a costly misunderstanding.

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.