Weekly Newsletter
India, 21st June: Messe Frankfurt Trade Fairs India Pvt Ltd announced that the inaugural edition of Light + LED Expo India will be postponed to 3-5 November 2022, running at Pragati Maidan in New Delhi.
The new event will cover the entire lighting ecosystem – targeting lighting and component manufacturers and suppliers – and enabling them to strengthen their supply chains and tap into investment.
Macau, 21st June: Macau hosted the largest conference since the COVID-19 pandemic forced a worldwide slowdown for the MICE industry.
Running from 20th to 23rd April, 6,000 delegates attended the Pro-Health event, a four-day conference and tour for a Chinese health products company, under stringent but efficient hygiene protocols. The company held the conference to review the past year while mapping out future strategies, and also to celebrate the company’s 25th anniversary. Pro-Health China chose Macau for its event due to its convenient location, ease of access from China and the availability of world-class facilities in Cotai.
Hong Kong, 21 June: Co-organised by the Hong Kong Trade Development Council (HKTDC) and MMI Asia Pte Ltd, a subsidiary of Messe München, electronicAsia will be rescheduled from 13-16 October 2021 to 27-30 October 2021. It will coincide with the HKTDC Hong Kong Electronics Fair (Autumn Fair) and five other concurrent fairs at the Hong Kong Convention and Exhibition Centre (HKCEC).
The decision to reschedule was made after consultation with industry representatives and key stakeholders. The co-located events will cover a wide range of product categories, creating synergy amongst the fairs, providing convenience and attracting buyers to visit various fairs in Hong Kong for one-stop sourcing.
Singapore, 23rd June: The MICE portfolio company of Temasek, SingEx Holdings Pte Ltd, and a subsidiary of Singapore Press Holdings Limited, Sphere Exhibits Pte Ltd, merged to form SingEx-Sphere Holdings in February. Recently, the merged company announced its new name, Constellar.
According to the company, the outbreak of COVID-19 has given the MICE industry the opportunity to become a digitally-enable intellectual property business, and Constellar will create a new path for growth through reinvention and collaboration.
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 2021)
Phuket, 9th June: The Thai government announced Phuket will reopen on 1st July 2021 to vaccinated international tourists, the first city in the country to do so.
Thailand Convention and Exhibition Bureau (TCEB) is in discussions with airlines to increase seat capacities and is planning support packages for groups of 30 or more staying in Thailand for at least two nights. TCEB will also target tourists from China.
Hong Kong, 10th June: The Hong Kong Trade Development Council (HKTDC) launched a new business support programme, the GoGBA one-stop platform, to help companies access the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
The launch of the GoGBA one-stop platform includes the GoGBA WeChat mini programme – a digital information and business tool, and the opening of the HKTDC GBA Centre, located in Shenzhen. Several memorandums of understanding (MoUs) were also signed during the launch event to expand the network of support for Hong Kong companies.
London, 10th June: Last week, Reed Exhibitions announced it is rebranding as RX, with a refreshed visual identity and updated brand positioning.
After rebranding, RX will leverage its capabilities in data and technology to create year-round communities that support businesses and help their customers to grow. The company will also combine both digital and face-to-face interactions to create better livelihoods for its customers, better careers for people and better experiences for audiences to connect.
Bangkok, 11th June: The Thai-listed subsidiary of Pico Far East Holdings, Pico Thailand, released its results for the quarter ended 30th April 2021. Revenues in the quarter were US$5.1 million, representing a year-on-year increase of 23%. The company narrowed its loss to US$321,000, from a loss of US$791,000 recorded in the same quarter last year.
The company attributed its revenue growth to eased government measures to control the COVID-19 situation in mid-February 2021.
The Center for Exhibition Industry Research (CEIR) has announced that the U.S. B2B exhibition industry showed modest improvement in the first quarter. Rising vaccinations in the U.S. are expected to improve industry performance.
Following the decline of daily infection cases in Singapore, restrictions will be relaxed across two phases. Size limits of MICE events and other small-scale public gatherings have been raised to 250 attendees (with pre-event testing). For events with 50 or fewer attendees, testing will not be required.
Catja Caspary, former Vice President of Trade Fair Management at Koelnmesse, will now serve as the company’s VP of Marketing Communications.
Share price movement
Read MoreBoston, MA & New York, NY: Blackstone, a leading investment firm, announced the company has entered into a definitive agreement to acquire International Data Group (IDG) from Oriental Rainbow, LLC, a subsidiary of China Oceanwide Holdings Group, Co. Ltd., for US$1.3 billion.
Read MoreLondon, 3rd June: Last week, London-listed Informa Group released a trading update. The company continues to trade in line with expectations and remains on track to deliver its baseline revenue target for the year of at least £1.7 billion (US$2.4 billion).
Read MoreParis, 8th June: The Board of Directors of UFI, The Global Association of the Exhibition Industry, elected Michael Duck as future President of UFI for 2022-23.
Read MoreKuala Lumpur, 8th June: The Malaysia Convention & Exhibition Bureau (MyCEB) has appointed Mr. Noor Ahmad Hamid as its new Chief Operating Officer.
Read MoreThe Cairns Convention Centre, closed since April 2020, has completed its A$176 million (US$227million) refurbishment and expansion, featuring state-of-the-art technology and a contemporary interior design.
Business Events Perth recently secured bids to host AusBiotech (Australia largest life sciences conference) next year, as well as the International Congress on Neuromuscular Diseases in 2024.
In light of the global pandemic, the Philippines is updating its MICE Roadmap 2030, which outlines strategies to position the country as a desirable business events destination in Asia and the Middle East within the decade.
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 2021)
Hong Kong, 28th May: Three events were recently held concurrently at the Hong Kong Convention and Exhibition Centre (HKCEC): Art Basel Hong Kong 2021, Art Central, and Christie’s Hong Kong Spring Auctions 2021. This is the first time the three shows were held during the same period, running from 19th to 28th May.
Read MoreDaegu, Korea, 20th May: Daegu EXCO opened its second Exhibition Hall (East Wing) in conjunction with its inaugural event, the International Green Energy Expo, on 28th April.
Read MoreIndia, 29th May: The Indian Exhibition Industry Association (IEIA) elected its first female President, Ms. Sonia Prashar, at the Executive Committee meeting on 29th May.
Read MoreBusiness Strategies Group is the only market intelligence & strategy consulting firm in Asia with a special focus on business media, information and events. Our services include research, market intelligence, mergers and acquisition support and strategy development.
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