China’s State Council to use exhibitions for export growth

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China, 2nd May: China’s State Council (CSC) has announced a new strategy to encourage exporters to attend overseas exhibitions. The CSC’s 18-point plan includes increasing the number of international flights and improving visa application channels. There is also a commitment to increase efforts to bolster both the automotive and e-commerce sectors. The CSC will also encourage exporters to deepen ties with the ASEAN region.

 

It is significant that the CSC explicitly plans to bolster exports by providing greater support for Chinese businesses to attend overseas trade shows. There are dozens, if not hundreds, of B2B exhibitions across Asia that rely on Chinese exhibitors to drive growth at the events and in the local economy. Through the China Council for the Promotion of International Trade (CCPIT), China subsidises thousands of Chinese businesses enabling them to exhibit at overseas trade shows each year.

Meorient posts small profit in Q1

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Hangzhou, 28th April: Last week, Meorient released its results for the quarter ended 31st March 2023. Meorient is a Shenzhen-listed exhibition organiser that focuses on taking Chinese business overseas to exhibit at its own trade shows in a variety of markets in the Middle East, Africa, Eastern Europe and South America.

 

Meorient’s revenues jumped 130% year-on-year, reaching US$9.8 million. The company posted a net profit of US$155,000 in the quarter, compared with a net loss of US$2.7 million in the first quarter of 2021.

Netsun’s revenues fall nearly 10% in 2022

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Hangzhou, 29th April: Shenzhen-listed Zhejiang Netsun announced its results for the year ended 31st December 2022, with revenues of US$61 million. This represents a year-on-year decrease of 9.3%. Net profit in the year was US$3.3 million, which is similar to that of the previous year.

 

The Hangzhou-based company also released its results for the quarter ended 31st March 2023. Netsun’s revenues in the quarter grew 32% amounting to US$24 million. The company’s net profit in the same period dropped 27% year-on-year, down to just US$614,000. Diluted earnings per share in the first quarter of 2023 were RMB 0.02 (US$0.0029).

Hong Kong’s KITEC to be redeveloped

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Hong Kong, 3rd May: Hong Kong’s Kowloon Bay International Trade & Exhibition Centre (KITEC) has received government approval to be redeveloped. This is part of the Hong Kong government’s plans to establish Kowloon East as another central business district (CBD) and to it is a small part of the government’s larger plan to revitalise the East Kowloon Area.

 

After the redevelopment, KITEC will have new facilities featuring three office towers and an exhibition hall offering 11,285 m2 of floor space. The work is scheduled to be completed in 2027. The venue will be too small to host the majority of Hong Kong’s B2B exhibitions, however it may be useful for some consumer shows and for small events during peak trade show seasons.

Quick takes

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Melissa Ow to return to head STB

Melissa Ow has been named as the new chief executive of Singapore Tourism Board (STB). Ow is currently an executive vice president at the Economic Development Board (EDB). Prior to the EDB position, Ow was deputy chief executive at STB. She takes over from Keith Tan who was chief executive of STB for over four years.

 

 

Large Indian incentive groups return to Thailand

The Thailand Convention and Exhibition Bureau (TCEB) has reportedly provided support to nearly 30 groups from India since October last year. A total of close to 42,000 delegates have visited Thailand including one featuring 10,000 delegates.

 

 

Asian airlines report strong growth

According to the Association of Asia Pacific Airlines (AAPA) there has been a 495% year-on-year increase in the number of international passengers carried in March. That translates an additional 20 million passengers moving around the region. That figure is 61% of pre-pandemic 2019 levels.

 

 

Business events in Brisbane to get Olympic boost

Ahead of the 2032 Olympic games, Brisbane will build an additional 1,000 hotel rooms, more than 50 new F&B outlets, entertainment, luxury retail, public artworks, 1,500 residential flats and the equivalent of 12 football pitches of public space.

Revenues for DLG Exhibitions down 16% in 2022

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Shanghai, 27th April: Earlier this week, Shanghai-listed DLG Exhibitions (formerly Shanghai Lansheng) released its financial results for the year ended 31st December 2022. Revenues in the year were US$112 million. This represents a year-on-year decrease of 16%. Net profits fell slightly by 4.6% year-on-year, down to US$17 million. Diluted earnings per share in 2022 were RMB 0.21 (US$0.0305).

Separately, the company announced its results for the quarter ended 31st March 2023. Revenues in the quarter were US$7.8 million. That represents a year-on-year increase of 34%. The company narrowed its net loss from US$13 million in the first quarter of 2022, down to US$1.3 million in the first quarter of 2023.

HKTDC’s April events attract 56,000 buyers

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Hong Kong, 22nd April: Last week, the Hong Kong Trade Development Council (HKTDC) organised seven concurrent events (six concurrent exhibitions and a conference), attracting approximately 56,000 buyers from over 130 countries and regions. About 60% of buyers were from overseas – including markets such as Mainland China, ASEAN, Taiwan, the U.S., Japan and Korea.

The six shows were: Hong Kong Gifts & Premium Fair; Home InStyle; the Hong Kong International Home Textiles and Furnishings Fair; Fashion InStyle; the Hong Kong International Printing & Packaging Fair as well as the Hong Kong International Licensing Show, and the concurrent conference of Asian Licensing Conference.

Vinexpo Asia returns to both Singapore and Hong Kong

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Singapore, 25th April: Vinexpo Asia will return to Singapore next month, running from 23rd to 25th May. According to the organiser, the Vinexposium Group, the event will take place every odd year in Singapore, and in Hong Kong in every even year.

In 2023, the Singapore event will feature 1,000 wine producers from 35 countries and regions, the organiser is expecting 8,000 trade visitors from across Asia. Vinexpo Asia will also host 40 sessions as part of its “Vinexpo Academy,” with masterclasses, major tastings and conferences.

GL events Exhibitions revenues up 179% in Q1

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Lyon, 20th April: Last week, GL events released its financial results for the quarter ended 31st March 2023. Revenues at GL events’ exhibitions business reached €113 million (US$121 million), which represents an increase of 179% compared with the figure in the first quarter in 2022 – and more than five times higher than that of Q1 in 2021.

GL events’ group revenues grew 59% in the quarter, reaching €351 million (US$377 million). In terms of its key businesses, GL events Live generated €150 million (US$161 million), up 20% year-on-year. While GL events Venues posted revenues of €88 million (US$94 million), a year-on-year increase of 61%.

Quick takes

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Macau is coming back

Macau reports visitor arrivals were just under two million in March of this year. That is up 271% year-on-year and up 23% month-on-month. Of those, 1.3 million were from Mainland China. Macau has a long way to go, but it is headed in the right direction.

Providence Equity raises its offer for Hyve

After major shareholders indicated that they were unimpressed, Providence Equity Partners increased its offer by 12%. The new offer values Hyve at US$457 million on a fully diluted basis and values Hyve at US$660 million on an enterprise value basis. The board agreed to accept this increased offer.

Worries over costs of business travel

Sustainability and costs are serious concerns for business travel and event managers in Asia. Despite this, expect trip activity in Asia is forecast to pre-pandemic levels in 2023. “Travel managers in Asia to trim transport, accommodation and F&B costs where they can.”

More details on Japan’s first Integrated Resort

The Osaka based IR is expected to attract 20 million guests, including six million international visitors. When it opens in 2029, the 490,000 m2 site will feature hotels, a conference centre, an exhibition hall, a shopping mall, a museum and a theatre. MGM Resorts International and its local partner Orix Corporation will each own 40% of the facility with various government entities owning the remaining 20%.

Meorient posts strong revenue growth and profit in FY2022

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Hangzhou, 19th April: Earlier this week, Meorient, a Chinese exhibition organiser listed in Shenzhen, released its results for the year ended 31st December 2022. Revenues grew an impressive 92% year-on-year, reaching US$51 million.

The company posted a net profit of US$7.3 million in 2022, compared with a net loss of US$9.0 million in the previous year. Diluted earnings per share in the year were RMB 0.5 (US$0.073).

Rising costs in Singapore may begin to impact events

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Malaysia, 14th April: According to the publication, TTG MICE, due to rising costs in Singapore, some exhibition organisers are showing an interest in moving their shows to Malaysia, where prices are relative lower. TTG MICE also reports that there is an interest in launching new shows there as well. According to media reports, the costs of organising an exhibition in Malaysia are about 30% to 40% less than in Singapore.

According to Economist Intelligence Unit, Singapore is now the world’s most expensive city in which to live. In addition, ECA International’s “Most Expensive Locations For Business Travel” ranked Singapore in second place in Asia and 19th worldwide.

CHINAPLAS hits new record

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Shenzhen, 17th April: CHINAPLAS, a leading event serving the plastics and rubber industries, organised by Hong Kong-based Adsale Group, opened in Shenzhen on 17th April at Shenzhen World Exhibition & Convention Center (SWECC), with all 18 exhibition halls occupied for the first time.

Under the theme of “A Brighter and Shared Future, Powered by Innovation,” CHINAPLAS 2023 was held from 17th to 20th April and it covered an incredible floor area of 380,000 m2. This is a new record for the show now in its 35th edition. This year it featured more than 3,900 exhibitors.

G2E Asia in Singapore and Macau this year

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Singapore/Macau, 19th April: Due to COVID restrictions in Macau last year, the Global Gaming Expo (G2E) Asia was held in Singapore in August. This year, the show will return to Macau in July. And like many shows that moved from Hong Kong and Macau due to COVID, it will leave behind a legacy – the Singapore Special Edition will be retained.

Organised by RX Global (Reed Exhibitions), the G2E Asia edition in Singapore will be different from the Macau edition. The Singapore edition will run from 30th May to 1st June 2023 and it will be held at the Sands Expo and Convention Centre focusing on “gaming for gaming professionals” and it will primarily be a networking event.

The Macau edition will be held together with the newly launched event, Asia IR Expo. G2E Asia in Macau will focus on integrated resorts, and tourism and other entertainment products beyond gaming. The show will take place at the Venetian Macao running from 11th to 13th July 2023. It aims to attract leaders and decision-makers from integrated resorts in Asia.

Quick takes

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Plenty of people on the move

MyCEB CEO Abdul Khani to retire.

UFI hires, Peirui Tan as head of Programmes and Advocacy.

David Dubois to retire after 11 years as CEO of IAEE.

Singapore feeling the supply squeeze

As is the case with many markets in Asia, Singapore’s travel and tourism trade is feeling the squeeze when it comes to supply issues. The demand is returning, but there is a tight hotel room supply situation, high hotel rates and manpower shortage issues. Companies report that they have to spend more time recruiting as well as having to pay higher salaries. And some industry trade players claim that supply issues are causing them to lose business.

Incentive travel returns to Macau with a splash

The Galaxy International Convention Center hosted its first event and it featured 11,000 delegates! Macau officials say “mega conferences” and incentive groups are back. Macau expects 200,000 business delegates to arrive in the first quarter of 2023.