MICE industry leaders welcome “Hello Hong Kong”

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Hong Kong, 16th February: MICE industry players in Hong Kong eagerly welcomed a new the campaign from the Hong Kong Tourism Board (HKTB). “Hello Hong Kong” aims to put Hong Kong back on the world map for tourism, conferences and exhibitions as China’s and Hong Kong’s borders have re-opened and COVID restrictions have been dropped.

The two main venues in Hong Kong, the Hong Kong Convention and Exhibition Centre (HKCEC) and AsiaWorld-Expo (AWE), teamed up with exhibition organiser leaders and HKTB to support the campaign. According to HKTB, more than a hundred international MICE events have been scheduled in Hong Kong this year – including some being held in Hong Kong for the first time.

Quick takes

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Hong Kong government’s budget targets events

This week the Hong Kong government unveiled its latest budget. Plenty of money will be allocated to get Hong Kong back on its feet. The government expects the Hong Kong Trade Development Council (HKTDC) to host ten major exhibitions this year that attract 500,000 visitors and the Hong Kong Tourism Board (HKTB) is being given an addition HK$200 million to attract business events.

Macau’s visitor numbers begin a comeback

In January, Macau’s visitor arrivals jumped by over 100% year-on-year and nearly 260% month-on-month to approximately 1.4 million – boosted by the easing of COVID restrictions and the Lunar New Year holiday. That figure is still far below the 40 million visitors in 2019, but 2023 will still likely record a remarkable recovery.

Routes Asia head to Langkawi in 2024

Informa’s influential conference, Routes Asia, will be held in Malaysia in 2024. Here’s hoping that by 2024 most Asian airlines will have restarted all the much-needed routes and added capacity around the region.

MMI Asia inks deal with Singapore

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Singapore, 14th February: MMI Asia, Messe München’s subsidiary in Singapore has signed an agreement with the Public Utilities Board of Singapore (PUB). The two organisations have announced a collaboration over the next ten years to organise and host Singapore International Water Week (SIWW).

MMI Asia will be responsible for the two main elements of the new platform, the Water Expo and a series of high-level conferences, forums and seminars during SIWW. The cooperation will also include a focus on all aspects of the IFAT network.

RELX’s exhibitions business up 64% in 2022

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London, 16th February: Yesterday, the RELX Group, the parent company of RX Global (formerly Reed Exhibitions), released its financial results for the year ended 31st December 2022. Revenues in RELX’s exhibitions business posted underlying growth of 64%, amounting to £953 million (US$1.2 billion). Adjusted operating profit for the year was £162 million (US$196 million), compared with a profit of £10 million (US$13 million) in 2021.

Management attributed the growth in revenues of the exhibitions business to a significant increase in face-to-face activity as exhibition venues reopened across most geographies. The company stated that it aimed to manage its event schedule flexibly, responding to changes in local government policies throughout 2022. It also made significant progress on its digital initiatives, building a growing range of digital tools supporting its physical events.

TCEB unveils 5-year plan to promote Thailand

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Thailand, 15th February: Thailand Convention and Exhibition Bureau (TCEB) unveiled its five-year action plan (for 2023 to 2027) under the “TCEB Go” strategy and the “Thailand MICE to Meet You Year 2023” campaign in a bid. TCEB aims to revitalise the economy and promote Thailand as a premier MICE destination.

According to TCEB, Thailand welcomed more than 7.9 million MICE travellers, generating 29 billion baht (US$826 million) in the first quarter of the fiscal year (October to December 2022). Of those, 183,000 were international MICE travellers and generated revenue of 12 billion baht (US$348 million). Thailand aims to welcome more than 18 million MICE travellers generating 109 billion baht (US$3.2 billion) in this fiscal year.

BOL’s profit up 16% in 2022

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Bangkok, 14th February: Earlier this week, Business Online (BOL), a leading online information service provider in Thailand, released its financial results for the year ended 31st December 2022. Revenue for the year was US$20 million, representing a year-on-year growth of 7.4%. BOL’s net profit for the year grew 16%, reaching US$7.8 million. Diluted earnings per share in 2022 were Baht 0.33 (US$0.0096).

More than 93% of BOL’s revenue was generated from its service business, amounting to US$19 million, an increase of 7.5% year-on-year. The remaining revenue was generated from dividend income (US$1.1 million) and “other income” (US$193,000).

Quick takes

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HKTDC is optimistic about jewellery expo

The HKTDC is feeling upbeat about its upcoming jewellery exhibition as border restrictions between Hong Kong and China are removed. It will be interesting to see how many Chinese buyers and exhibitors turn up at the show.

Taiwan to drop indoor mask mandate

Taiwan’s Central Epidemic Command Center (CECC) has decided to finally relax its indoor mask rules beginning on 20th February 2023. The general public will be able to choose whether to wear a mask or not indoors.

Singapore drops all border restrictions

Beginning 13th February, visitors to Singapore will no longer need to show proof of vaccination upon arrival. Those not fully vaccinated against COVID-19 will also not be required to show proof of a negative pre-departure test.

Hong Kong’s future suddenly brightens

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Hong Kong, 4th February: As of 6th February 2023, travel restrictions between Hong Kong and China were eased as the daily quota for land crossings into Hong Kong were dropped. In addition, the PCR tests on arrival are no longer needed.

Three border checkpoints in Hong Kong reopened as well, including Lo Wu Control Point, Liantang/Heung Yuen Wai Control Point, and Lol Ma Chau Control Point. However, travellers had been outside of China seven days prior to their visit to Hong Kong, and will have to present a negative PRC test result within 48 hours of border crossing.

Ungerboeck rebrands Momentus Technologies

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St. Louis, 30th January: Ungerboeck, a venue and event management software provider, has rebranded as Momentus Technologies. The new name apparently reflects the company’s “evolution to unify its organisation and vertical-specific software under one vision to meet the dynamically changing needs of the venue and event management industry.”

Along with the new name, Momentus plans to provide more comprehensive purpose-built solutions. The company also plans to clarify the value it delivers for customers. Management believes that the new name will bring a renewed energy and passion for the venue and events industry while maintaining and growing its customer-centric mission.

Mainland China also resumes open borders with Macau

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China, 8th February: More good news for Hong Kong (and Macau). Mainland China has now fully resumed normal travel conditions with Hong Kong and Macau as of 6th February 2023.

All cross-boundary control points were operational between Hong Kong and Mainland China. Travel agencies in Mainland China are also now allowed to organise group tours to both Hong Kong and Macau. Beijing maintains that this will speed the recovery of the tourism industry in China, Hong Kong and Macau.

Quick takes

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Is Hong Kong ready to rev its economic engine?

HKECIA Chairman, Stuart Bailey, has done an excellent job over the last three years lobbying and educating the Hong Kong government about the value of business events. He now points out that it is not just event organisers and venues that need to be ready for the international visitors. All of the supporting industries need trained staff – e.g. hotels, airlines, restaurants, etc. It remains a serious problem.

UFI CEO on the future of trade shows

Kai Hattendorf covers a lot of ground here – the future evolution of trade shows, changing business models, event technology, staffing, sustainability, how and where we will meet and so on. It is nicely summarised in this article.

ASEAN exhibition markets ready to go

A new industry event was launched last week at the ASEAN Tourism Forum 2023. The inaugural Southeast Asia Business Event Forum (SEABEF) featured Edward Liu predicting that three years of the zero-COVID strategy in China will lead to European and US organisers put more emphasis on South-east Asian markets. We shall soon see if there is any truth to that…

Quick takes

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KLCC expecting more than 700,000 visitors in 2023

Malaysia’s Kuala Lumpur Convention Centre has already confirmed over 200 events in 2023, which are expected to draw more than 700,000 delegates and visitors throughout the year. Including 28 new conferences and exhibitions, KLCC has booked 18 international and national conventions, 35 exhibitions and around 160 corporate meetings and events so far in 2023.

GL events reports 77% gain in annual revenue

Integrated event industry group GL events reported annual revenue of US$1.32 billion, up 77.4% from the previous year. The Group noted that recent growth in Europe and the Americas more than offset the decline in Asia, which continued to be impacted by China’s lockdown measures during the year.

Koelnmesse expected to reach €237 million turnover in 2022

Expecting to achieve turnover of €237 million (US$254million) in 2022, Koelnmesse has continued its upward trend in revenue, building on returning confidence in trade fairs as a marketing tool and strict cost-cutting measures. Koelnmesse anticipates further normalisation of its event business in 2023, and is planning a total of 74 events this year.

Tarsus looking towards a bright 2023

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London, 23rd January: Tarsus Group, a global B2B events and media business, forecasted a strong year in 2023, based on the lifting of China’s strict zero-COIVD policy and the group’s robust launch strategy.

Tarsus launched eight new events in 2022, and 15 additional are planned for 2023. The company has strategically focused on key territories, with a strong presence in the U.S. and large operations in the Middle East and China.

Pico Far East revenues up 12% in FY2022

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Hong Kong, 30th January: Hong Kong-listed Pico Far East Holdings reported its annual results for the year ended 31st October 2022. The company posted revenues of US$579 million, up 12% year-on-year. Pico’s net profit grew 19% during the year, reaching US$21 million. Diluted earnings per share in the year were HK$0.1313 (US$0.017).

The company attributed the strong performance to its pre-emptive transformation and planning, which enabled the company to capture growth opportunities.

Informa posts strong 2022 performance

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London, 19th January: London-listed Informa PLC has recently released its full year trading update for 2022. Revenue is expected to be £2.38 billion (US$2.9 billion). Adjusted operating profit was about £530 million (US$638 million), and free cash flow was £440 million (US$529 million).

Informa’s B2B Events portfolio is expected to deliver 70% of underlying revenue growth through Live Events in 2022.

UFI: global exhibition industry is reaching pre-pandemic levels

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­Paris, 31st January: Earlier this week, UFI, the Global Association of the Exhibition Industry, released its latest Global Exhibition Barometer survey. The biannual survey report highlighted the quickening pace of the exhibition industry’s recovery in 2022 and a positive outlook for 2023.

With COVID-19 restrictions now a memory in most markets, full recovery is expected in 2023, save for a few market exceptions. More than 70% of the respondents declared a return to “normal activity” in December 2022, compared with only 30% in January 2022, and this figure is expected to reach 80% in June 2023.