HKTDC holds physical and online events

Hong Kong, 18th July: The Hong Kong Trade Development Council (HKTDC) concluded one of its physical and online events last week. The International Sourcing Show, with Exhibition+ (EPLUS) model featured more than 20,000 industry buyers attended the physical event and browsed products online.

More than 1,730 exhibitors from 12 countries and regions exhibited more than 83,000 products during the fair. Over 5,000 meetings were facilitated in order to connect exhibitors with global buyers – both online and offline.

Patrick Martell to become Informa Markets CEO in 2023

London, 19th July: Informa Markets, the world’s largest commercial exhibition organiser, has announced the appointment of a new CEO beginning next year. Effective 1st January 2023, current CEO of Informa Intelligence and COO of Informa Group, Patrick Martell, will assume the role of Informa Markets’ CEO with Informa Group COO.

The company’s current CEO Charlie McCurdy will become a strategic advisor to Informa Group in 2023. McCurdy has been the group’s CEO since 2015. He has been involved in events and B2B media for more than 35 years.

Global Sources revamps its online platform

Hong Kong, 4th July: Hong Kong-based Global Sources has announced the revamp of its “Global Sources Online Sourcing Platform” (GSOL). The improved platform will offer new features to connect buyers and verified suppliers globally. The global pandemic strongly affected the B2B sourcing market, now according to Global Sources, by 2025 approximately 80% of B2B sales interactions will be conducted through digital platforms.

Separately, Global Sources also announced the return of its series of exhibitions running from 11th to 14th October 2022 at AsiaWorld-Expo (AWE) in Hong Kong. The upcoming show series will feature 4,000 suppliers exhibiting some 50,000 products. Global Sources will also launch value-added services during this show. It is expected to attract more than 20,000 professional visitors onsite and another 100,000 online.

Informa updates corporate strategy

London 19th July: The London-based media group, Informa PLC, has released an update of its Growth Acceleration Plan (GAP). In the first half of 2022, the group posted underlying revenue growth of over 40%, due to continuing strength in Academic Markets, strong return in Live & On-Demand Events and progressive growth in B2B Digital Services.

Informa posted strong performances in its key business units, including Informa Markets, Informa Connect and Informa Tech – delivering over 90% underlying revenue growth. Total revenues were more than £650 million (US$796 million).

Separately, Informa has announced a deal to acquire Industry Dive, a multi-market B2B audience development and high-quality digital content specialist firm. In addition, Informa agreed to sell its Emerging Portfolio Funds Research (EPFR) to Montagu, a private equity firm.

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 2022)

Quick takes

In terms of the pandemic, (with the notable exception of China), things are generally looking optimistic now, but a widely anticipated global economic slowdown or even recession, is looming over most economies.

Bizzabo cuts one third of its staff

Event tech appears to be a quite uncomfortable place to be right now. Bizzabo has raised nearly US$200 million to date, but that apparently was not enough. This follows Hopin’s announcement in February that 12% of its staff would be cut.

Temasek expects things to get ugly

The giant Singaporean sovereign wealth fund expects its investment activity to slow as the global economic outlook worsens. Temasek is one of the top 10 investors worldwide with 63% of its investments in Asia. Temasek also owns Constellar, a Singapore-based event organiser and venue owner.

Las Vegas Sands lends US$1b to Macau

Sands China, a subsidiary of Las Vegas Sands (LVS), has announced that it has entered into a loan agreement with its parent company following the recent COVID lockdown in Macau. The US$1 billion loan will be repayable on 11th July 2028.

Japan gets nervous about COVID… again

Japan warned that a new wave of coronavirus infections appeared to be spreading rapidly and urged people to take special care. Tokyo reported 16,878 new cases on Wednesday – the highest daily total since February.

Alibaba gets fined and Tsai quits a board

Alibaba is in trouble with regulators once again. The e-commerce giant has been fined for five violations of China’s anti-monopoly law running back to 2011. At the same time, and perhaps not unrelated, the Alibaba Group’s vice-chairman, Joe Tsai, has quit the board of its sports subsidiary Alibaba Sports.

Penang to host IAA World Congress in 2024

 Penang, 11th July: The 45th edition of the International Advertising Association (IAA) World Congress will be held in Penang in 2024. This marks the first time this congress will be held in Southeast Asia. Organisers are expecting some 2,000 delegates, generating an estimated economic impact of US$3 million to the Malaysian state.

The three-day congress will be held from 6th to 8th March 2024. The theme will be “Brand ReCode: Createch for Better Lives, Better World.” It will have the goal of helping people and businesses to merge creativity and technology in trade and industry. The congress will feature panel discussions, tech expos, board meetings and team building sessions, award shows and masterclasses.

HKTDC opens key public events this summer

Hong Kong, 6th July: Despite Hong Kong’s ongoing COVID restrictions, the Hong Kong Trade Development Council (HKTDC) will run its 32nd Hong Kong Book Fair from 20th to 26th July 2022 at the Hong Kong Convention and Exhibition Centre (HKCEC).

The Book Fair will be co-located with the Hong Kong Sports and Leisure Expo and World of Snacks which are expected to attract over 700 exhibitors.

During the Book Fair, the HKTDC will also host its 31st Education & Career Expo from 21st to 24th July. That event will provide visitors with information on education and job opportunities available in Hong Kong and overseas.

Constellar partners to focus on food security in Malaysia

Kuala Lumpur, 7th July: One of the larger food and beverage trade fairs in Malaysia, Malaysian International Food & Beverage Trade Fair (MIFB), opened its (physical) doors running from 6th to 8th July 2022 at the Kuala Lumpur Convention Centre (KLCC). This year, MIFB 2022 also partnered with the Though For Food Foundation (TFF) to focus on food security.

Organised by Singapore-based Constellar, MIFB featured over 200 exhibitors from 15 countries and regions, and the organiser expects more than 10,000 trade visitors – including those from around the globe as Malaysia eases its border control policies.

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 2022)

Quick takes

UFI and MAD Event Management announce partnership in North America

MAD Event Management and UFI, The Global Association of the Exhibition Industry, announced a new strategic partnership to develop and enhance UFI member services and grow UFI’s membership base in North America. MAD President Martha Donato and CEO Marty Glynn will become the official representatives of UFI in the region.

Hyve reports “full recovery” of revenue in Q2

In its latest trading update, global event organiser Hyve Group plc reported a full recovery of revenue for the period from 1st April to 24th June, delivering a faster than anticipated recovery. During the period, Hyve ran nine in-person events across four continents, however three events in Ukraine – as well as all future events in the country – were postponed until further notice.

TCEB wins UFI Marketing Award

The 2022 UFI Marketing Award was granted to the Thailand Convention and Exhibition Bureau (TCEB) for the “best marketing strategy in a changing exhibition industry.” The UFI Marketing Committee has organised the UFI Marketing Award since 2001, recognising the best marketing initiatives by exhibition professionals.

WTTC sees revival in Japan’s tourism sector

The World Travel & Tourism Council’s (WTTC’s) Economic Impact Report is forecasting Japan’s travel and tourism sector will contribute nearly JPY 40 trillion (US$293.5 billion) to the country’s GDP by the end of 2023 – just 2.2% below 2019 levels. Employment levels are expected to surpass pre-pandemic levels to reach more than 5.8 million by the end of the year.

Constellar launches Agri-Food Tech Expo Asia in October

Singapore, 1st July: Singapore-based exhibition organiser, Constellar, will launch Agri-Food Tech Expo Asia (AFTEA), from 26th to 28th October 2022 at Sands Expo and Convention Centre. It will also be an event under Singapore International Agri-Food Week (SIAW).

Themed Ag-Volution For The Future, AFTEA will cover key sectors including Aquaculture & Urban Protein Production, Food Safety & Security, Novel Food Technologies and Smart Farming. The event is expected to attract over 6,000 trade professionals.

Taiwan ready for industry recovery

Taiwan, 29th June: The reopening of borders and gradual return of travel indicate that Asia Pacific’s business events industry is recovering. Taiwan continues to focus on the visitor economy, as authorities and the MICE community work to lure back shows and delegates after the past two years of the pandemic.

Meet Taiwan and the Bureau of Foreign Trade have made sterling efforts to ensure the health and safety of delegates. In addition, the first edition of the Taiwan MICE Industry Online Seminar was held on 28th June, preparing the industry for a post-pandemic revival, targeting Japanese buyers of conferences and incentive travel.

VNU Asia sees busy second half of 2022

Thailand, 6th July: Due to the pandemic, Thailand put in place travel restrictions and strict entry regulations at the beginning of 2022. Now, with the lifting of mandatory PRC tests for entry and a plan to become more lenient with mask-wearing from July, Thailand is forecasting positive trends for its exhibition industry in the second half of the year.

After two years of adapting to an online-focused approach during the pandemic, VNU Exhibitions Asia Pacific developed a digital exhibition and webinar series to complement its shows. AGRITECHNICA ASIA and HORTI ASIA were the first trade shows successfully executed this year.

In the coming months, VNU Asia will organise exhibitions not only in Thailand, but also in Vietnam and Indonesia. The company will also host several first editions of previously postponed trade fairs.

KLCC confirms 127 meetings scheduled through 2024

Kuala Lumpur, 30th June: Kuala Lumpur Convention Centre (KLCC) saw a significant growth in demand for in-person events, with a total of 127 global meetings (51 conventions and 76 exhibitions) booked at the venue from 2022 to 2024.

After Malaysia opened its international borders and eased meetings and events restrictions in April, KLCC has hosted some 300 in-person events, welcoming about 200,000 delegates and guests.

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 2022)

Quick takes

Thailand further eases entry requirements

Effective 1st July 2022, incoming travellers will no longer be required to register for the Thailand Pass, and the US$10,000 health insurance requirement will be lifted if proof of vaccination or a pre-arrival negative Covid test result is provided. Vaccinated and unvaccinated travellers who have a negative RT-PCR test result or professional ATK within 72 hours of travel will be allowed entry and unrestricted travel within the kingdom.

Emerald acquires Advertising Week

B2B events organiser Emerald has acquired all business assets and employees of Advertising Week from Stillwell Partners. Founded in 2004, Advertising Week is a premier global event and thought leadership platform focused on marketing, media, technology and culture – with events in New York, London, Tokyo, Mexico City and Sydney. 100,000 attendees and 3,000 speakers participate in its trade shows every year.

RWS gears up for international conferences

Resorts World Sentosa (RWS) has already confirmed more than 50 key conferences and corporate meetings will be held at the resort in the second half of 2022, bringing more than 100,000 international and local participants to events. Around one third of these confirmed bookings are large scale events, as Singapore has lifted all restrictions on social distancing.

Japan takes step-by-step approach to re-opening

On 10th June, Japan relaxed its immigration policies to allow foreign nationals to enter Japan for “short-term stay for tourism”, however the trip must be organised by a travel agency or destination management company (DMC). All visitors must obtain a visa and possess a negative Covid test taken within 72 hours of departure from their home country.

UFI and MAD announce partnership in North America

New York & Paris, 24th June: UFI, The Global Association of the Exhibition Industry, announced a new strategic partnership with MAD Event Management LLC, aiming to further develop and enhance UFI’s member services for North American members.

Under the new partnership, MAD President, Martha Donato, and CEO, Marty Glynn, will become the official representatives of UFI in the region, working to promote and support the business interest of UFI members. MAD will also create stronger links between the North American exhibition industry and the global industry, and grow UFI’s North American membership base.

HKTDC launches EXHIBITION+

Hong Kong, 28th June: The Hong Kong Trade Development Council (HKTDC) will launch a brand-new hybrid exhibition model, Exhibition+, to strengthen its exhibition platform.

The HKTDC will run its International Sourcing Shows from 5th to 8th July, at the Hong Kong Convention and Exhibition Centre (HKCEC) together with seven trade fairs. Over 1,700 exhibitors from 12 countries and regions will showcase more than 83,000 products.

Participants can stay connected through Click2Match, the smart business-matching platform of Exhibition+, from 5th to 15th July. Exhibition+ comprise four key exhibition elements: HKTDC-organised physical fairs, the Click2Match smart business-matching platform, online-to-offline seminars under the Intelligence Hub, and the HKTDC.com Sourcing platform.

Pico Far East’s revenues up 25% in first half

Hong Kong 23rd June: Last week, Hong Kong-listed Pico Far East Holdings announced its interim results for the six months ended 30th April 2022. Revenues were US$299 million, a year-on-year increase of 25%. Profit in the six-month period grew 20%, amounting at US$8.8 million. Diluted earnings per share in the first half of the financial year were HK$0.0556 (US$0.0071).

More than 81% of Pico’s revenues were generated from its exhibition, event & brand activation business, amounting at US$244 million. This business jumped 34% year-on-year. The remaining revenues were generated from its museum & themed entertainment business (US$27 million), visual branding activation business (US$25 million), and meeting architecture activation business (US$3.5 million).