Hong Kong to host IBTM in Asia

Hong Kong, 30th November: Hong Kong will host the inaugural edition of IBTM Asia Pacific 2025, the Asia Pacific edition of IBTM, a leading event brand serving the meetings, incentives, conventions and exhibitions (MICE) sector. The event is owned and organised by RX Global (formerly Reed Exhibitions).

The event in Hong Kong is expected to attract more than 1,500 travel trade and MICE professionals from mainland China, Southeast Asia, India, Japan, South Korea and other markets in the region, as well as long-haul markets.

STB appoints Markus Tan as a Regional Director

Singapore, 13th December: The Singapore Tourism Board (STB) has appointed Markus Tan as its Regional Director for India, Middle East, South Asia, and Africa (IMESA), effective 1st January 2024.

Tan will be based in Mumbai and he will be responsible for spearheading STB’s initiatives in promoting Leisure and Business Travel & Meetings, Incentives, Conventions, and Exhibitions (BTMICE) in the IMESA region.

Quick takes

Register now the 2024 UFI Asia-Pacific Conference

You can now register for the 2024 UFI Asia-Pacific Conference. Both UFI members and non-members are welcome to the even which will be held in Macau on 7–8 March. There will be two days of networking, as well as discussion about the key issues facing the industry in the post-pandemic era. An Event Directors Summit will be part of the conference. This half-day summit, which is limited to 25 event/exhibition directors, is a new UFI event that will be co-located with the conference. Details are on the event website: https://www.ufiasia.org/

AI expected to revolutionise travel marketing

Over at Web in Travel (WiT), Arvindh Yuvaraj reports that the majority of Destination Marketing Organisations (DMOs) are convinced that AI is going to transform marketing in that industry – changing everything from content creation to data analysis. The business events industry should take note of this. Our industry will certainly follow a similar path.

AIME 2024 will be bigger than ever

This week, AIME stated that its 2024 edition is expected to be larger than its 2023 event, which was its 30th anniversary. AIME will be held in Melbourne next February and it is expected to attract more than 500 exhibitors. In addition, over 600 hosted buyers are confirmed – including 160 international buyers from 27 countries.

Sarawak records a strong rebound in 2023

Business Events Sarawak, a CVB, reported this week that it generated nearly US$75 million in economic impact in 2023. In addition, Borneo, a Malaysian state, will welcome an estimated 42,000 delegates at 95 national and international events over the next four years thanks to the efforts of the team at Business Events Sarawak.

Share price movement in B2B media companies involved in Asia

Figure 1: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement over past 12 months)

Figure 2: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement since January 2023)

Ulsan aims to become business events destination

Ulsan, 5th December: Ulsan, a southern city in South Korea, is an industrial powerhouse in the past. Now, the city is aiming to rein vent itself as a MICE destination by leveraging its whaling and engineering heritage with an eco-friendly outlook.

In 2020, a MICE Alliance was launched in Ulsan, covering 61 member companies across five business categories – ranging from hotels and tour organisers to international event planners. The alliance targets to make the best of the region’s local heritage and eco-friendly initiatives, and tourism authorities are helping to drive joint-marketing effects and host local events.

Pico Thailand’s revenues down, but profit up in FY2022-23

Bangkok, 6th December: Earlier this week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, announced its full-year financial results for the year ended 31st October 2023. Revenues in the financial year were US$29 million, representing a year-on-year decrease of 6.2%.

However, the company’s net profit posted 12% growth over the previous year, reaching US$634,000. Earnings per share were Baht 0.10 (US$0.0028).

ICCA draws record attendance in Bangkok

Bangkok, 6th December: The International Congress and Convention Association (ICCA) concluded its 62nd congress in Bangkok, with a total of 1,123 participants from 80 countries and regions. This is the largest ICCA event in the Asia Pacific region, and the third largest in the history of ICCA.

The congress was held at Queen Sirikit National Convention Centre (QSNCC), from 12th to 15th November.

Cosmoprof Asia 2023 returns to Hong Kong

Hong Kong, 24th November: Cosmoprof Asia and Cosmopack Asia returned to Hong Kong in 2023, held at the city’s two main exhibition venues.

The two shows were organised by Cosmoprof Asia Ltd, a joint-venture company between BolognaFiere Group and Informa Markets Asia Ltd. This year, the shows featured more than 2,400 exhibitors from 44 countries and regions, with 90% from outside Hong Kong, occupying an exhibition are of 118,900 m2. A total of 65,582 visitors from 119 countries and regions attended the show, which is a 64% increase over the previous edition held in Hong Kong in 2019, and close to the levels achieved in 2018. Significant increases were recorded from Asian markets, and European attendance remained steady.

Quick takes

China and Singapore propose mutual 30-day visa-free travel

A 30-day mutual visa exemption agreement has been proposed between China and Singapore, aimed for implementation early next year. Chinese citizens currently require a visa to enter Singapore, while Singaporeans can enter China without a visa for up to 15 days for business, sightseeing, visiting friends and family, and in transit.

Hong Kong and Macau confident in Christmas travellers

Despite a surge of respiratory illnesses impacting China, operators in Macau and Hong Kong have played down the impact on inbound travel during the peak year-end Christmas season. Respective health organisations in Hong Kong and Macau advised the public to remain vigilant during the traditional peak flu season.

Share price movement in B2B media companies involved in Asia

Figure 1: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement over past 12 months)

Figure 2: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement since January 2023)

BSG’s report: Most Asian exhibition markets to surpass 2019 levels in 2023

Paris/Hong Kong, 23rd November: UFI, the Global Association of the Exhibition Industry, has released the 18th edition of its annual report on the Trade Fair Industry in Asia. This edition marks a restart of this report after the global pandemic. The report provides a detailed overview of the performance in 2022 of 17 exhibition markets in Asia. The report also provides insight and commentary into the scale of the recovery in 2023 and looks ahead to 2024.

Overall, BSG estimates that Asia recorded a huge 87% drop in net space sold in 2022 compared to 2019 as a result of the global pandemic. Net space sold fell from 24.5 million m2 in 2019 to just 3.2 million m2 in 2022. The drop in 2022 was in large part due to the fact that China did not allow exhibitions throughout the year due to its COVID-zero restrictions.

For more information on this report, please contact UFI in Asia at: asia@ufi.org

Macau held 20 exhibitions in Q3

Macau, 27th November: Macau’s Statistics and Census Service (DSEC) has reported its MICE statistics for the quarter ended 30th September 2023. Macau held a total of 245 events in the quarter which is 171 events more than the same quarter in 2022. The total number of participants grew by 60% year-on-year in the quarter, with a total of 545,400 participants and attendees. These statistics include every type of event from large-scale exhibitions down to small corporate meetings.

Of the total 245 events, 221 were meetings and conferences, 160 events more than the same quarter last year. Total number of participants at meetings and conferences was 47,600 people. A total of 20 exhibitions were held in the quarter, which was eight exhibitions more than the previous year. The number of attendees was up 47%, amounting to more than 490,000 attendees. The total gross area occupied by these exhibitions was 103,400 m2.

MyCEB appoints new CEO

Putrajaya, 20th November: The Malaysia Convention & Exhibition Bureau (MyCEB) has appointed Mr. Azman Haji Tambi Chik as the new Chief Executive Officer, effective 20th November 2023.

Azman will be responsible for leading MyCEB’s efforts to support Malaysia’s business events industry drawing on his experience and knowledge in corporate management in a variety of industries. MyCEB expects the leadership and vision of Mr. Azman to “elevate the business events sector’s prominence in the Malaysian economy.”

MCB records robust growth across Victoria’s business events sector

Melbourne, 26th November: Earlier this week, the Melbourne Convention Bureau (MCB) released its results for the financial year 2022-2023, recording a 74% year-on-year increase in economic contribution from secured business events.

The venue estimates that economic contribution was A$354 million (US$235 million). With a total of 197 future events secured, over 100,500 visitors will travel to the state, occupying over 196,000 room nights. Corporate meetings and incentives events contributed A$77 million (US$51 million) in economic impact with 58 groups confirmed.

Quick takes

China to offer visa-free entry for five European countries

Beijing has announced that it will allow visa-free entry for citizens of France, Germany, Italy, the Netherlands, and Spain. Citizens will be allowed to enter China for up to 15 days without a visa. This should help boost international participation at some B2B exhibitions in China.

Freeman appoints Priest-Heck’s replacement

Freeman, one of the world’s largest event service providers, has announced that Janet Dell, currently serving as the company’s president and COO, will become CEO as of 1st July 2024. Dell will succeed Bob Priest-Heck who will retire after serving as Freeman’s CEO for 15 years.

UFI launches advocacy portal

One of the key lessons learned during the global pandemic was that many governments do not fully understand the economic value of exhibitions and as a result of that, communication between our industry and government is essential. With that in mind, UFI has launched a dedicated advocacy portal on the UFI website.

Hong Kong tries to make up for lost time

Hong Kong was one of the last markets in Asia to reopen, but it is determined to make up for lost time. TTG interview’s HKTB’s Kenneth Wong to find out the details.

Share price movement in B2B media companies involved in Asia

Figure 1: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement over past 12 months)

Figure 2: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement since January 2023)

Share price movement in B2B media companies involved in Asia

Figure 1: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement over past 12 months)

Figure 2: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement since January 2023)

Quick takes

Alibaba stays quiet about 11.11 stats

Alibaba’s management used to spend much of November pushing coverage of its always incredible sales and revenue stats from is 11.11 one-day sales festival, but both JD.com and Alibaba have started a new holiday tradition by staying very quiet about revenues from the event. The Register has a good summary of what happened on 11.11.

UFI’s Global Congress in Vegas a strong success

In case you missed it, UFI’s first-ever Global Congress held in the U.S. attracted 500 delegates from over 50 countries. At the congress, UFI announced that it would establish a new North American chapter. UFI now operates five chapters: Asia-Pacific, Central & South America, Europe, Middle East & Africa, and North America.

IEG posts post of €9.6m in Q3

Led by former UFI President, Corrado Peraboni, IEG Group reported revenues of €152m and a net profit of €9.6m. IEG is increasingly focused on Asia. Recent shows included CARA – Cafè and Restaurant Asia (an F&B event), and SIJE – the Singapore Jewelry Expo.

RX’s in-cosmetics Asia attracts 40% international buyers

While still rather small, RX’s in-cosmetics Asia managed to attract nearly 12,000 buyers of which 40% were international. RX reported that there were over 580 exhibitors at the event which was held at BITEC in Bangkok.

BOL’s revenues up 15% in Q3

Bangkok, 9th November: Business Online (BOL), a leading online information service provider in Thailand, has reported its financial results for the quarter ended 30th September 2023. Revenues in the quarter were US$6.3 million, representing a year-on-year increase of 15%.

The company’s net profit grew 10% from the same quarter of 2022, reaching US$2.7 million. The company attributed the growth in revenues the increased revenues from existing customers and growth from new customers.

AWE and KINTEX sign partnership

Hong Kong & Seoul, 21st November: Last week, Hong Kong’s AsiaWorld-Expo (AWE) and Korea International Exhibition Centre (KINTEX) signed an agreement to cooperate. The partnership aims to deepen collaboration between the two venues.

It is also designed to “promote the development of the MICE industry in the Asia-Pacific region, with encompassing various key areas of collaboration.” The venues will leverage the experience and local expertise of both teams. AWE and KINTEX agree to promote expo and cultural events with “joint effort and cross-city power of alliance.” The venues also hope to generate incremental economic impact for both Hong Kong and Seoul.