“Hong Kong is a highly advantageous exhibition city due to its strategic location in the heart of Asia, offering convenient access for international exhibitors and visitors”
ES. Can you tell us about the role of the Hong Kong Exhibition & Convention Industry Association (HKECIA) and its significance within the region?
Stuart Bailey. The Hong Kong Exhibition and Convention Industry Association (HKECIA) was established in 1990 to promote Hong Kong as a world-class exhibition and conference destination and the trade fair capital of Asia Pacific. It works to represent the interests of all members involved in the exhibition and convention industries, and provides a unified voice in dealing with the government, legislative and statutory bodies, the media and public organisations, on all matters associated with the role of the exhibition and convention industry in Hong Kong’s economy.
ES. Can you provide an overview of the current state of the exhibition and convention industry in Hong Kong?
Stuart Bailey. Leaving geopolitics aside, the outlook for the Convention and Exhibition industry in Hong Kong in 2024 is moderately optimistic. The trade exhibitions in the last quarter of 2023 experienced a strong rebound, with a significant number of exhibitors and visitors. Across the board, the industry has returned to pre-pandemic levels. Some speculate that this recovery may be attributed to the post-pandemic honeymoon period, as global trade remains sluggish. However, exhibitions serve as a reliable indicator of trade, as exhibition stand bookings typically occur 9 to 12 months in advance. Positive exhibitor sentiment for the year ahead is evident, and January has started well with the HKTDC’s toy fair being highly praised for its success.
Nevertheless, there are persistent challenges that need to be addressed. One such challenge is the severe shortage of manpower, although it’s important to note that this issue is not unique to our industry. Additionally, high inflation and escalating costs in travel and accommodation make Hong Kong an expensive destination, which can have a dampening effect on the industry. Furthermore, geopolitical uncertainty remains a significant factor, with democratic elections taking place in important export markets worldwide. We are waiting to see if these events will impact the industry.
Both trade and consumer exhibitions in Hong Kong are experiencing optimistic outlooks regarding future bookings. Not only are the returning shows that left during the pandemic scheduled to come back in 2024, but new shows are also set to debut in Hong Kong. This positive trend can be attributed, at least in part, to the government’s stimulus packages that are available to support these events.
The initial part of 2023 continued to experience the negative effects of anti-Covid measures, leading to a sluggish recovery for the industry. However, the latter half of the year witnessed a significant upturn, characterised by a substantial expansion in the size and scope of international events in Hong Kong. While specific data for 2023 is not yet available, it is projected to have reached approximately 70% of the pre-pandemic levels, which resulted in an economic impact of HK$58.4 billion. Looking ahead, we have high expectations for 2024, anticipating that it will surpass the aforementioned levels. This is expected to provide crucial support to numerous industries in Hong Kong and serve as a catalyst for bolstering the local economy.
ES. How does Hong Kong’s exhibition and convention industry compare to other major international hubs, and what advantages does it offer?
Stuart Bailey. Hong Kong is a highly advantageous exhibition city due to its strategic location in the heart of Asia, offering convenient access for international exhibitors and visitors. It boasts world-class infrastructure, including modern exhibition centres and convention venues such as the Asia World Expo and the Hong Kong Convention and Exhibition Centre. With its strong business environment, efficient transportation system, and supportive policies, Hong Kong provides a conducive environment for trade shows and conferences.
The city’s international connectivity, multicultural atmosphere, and wide range of professional services further enhance its appeal. Additionally, Hong Kong’s expertise in various industries and its position as a global financial hub makes it an attractive destination for industry-specific exhibitions, providing exhibitors with access to relevant markets and business opportunities.
ES. Could you share any insights or success stories of notable events or conventions hosted in Hong Kong in recent years?
Stuart Bailey. Hong Kong stands as the most important exhibition hub in the region, hosting a diverse array of trade exhibitions that attract participants from around the world. With renowned events in industries such as electronics,
jewellery, fashion, art, technology, food and wine, the city offers a vibrant platform for professionals seeking market insights, business collaborations, and unparalleled exposure. These exhibitions foster international trade, facilitate networking opportunities, and showcase cutting-edge products and services. Hong Kong’s status as a global business hub is solidified by its position as a crucial destination for industry professionals across a plethora of sectors.
ES. Looking ahead, what are your expectations and aspirations for the future of the exhibition and convention industry in Hong Kong, and how does the HKECIA plan to contribute to its continued success?
Stuart Bailey. Hong Kong’s government is actively driving the expansion of the convention and exhibition (C&E) space in the city to bolster the growth of its exhibition sector. Major developments are progressing in Wan Chai North, where the Hong Kong Convention and Exhibition Centre (HKCEC) is located, as well as on the airport island, known as AsiaWorld-Expo (AWE). These projects aim to seamlessly integrate with the existing venues, ensuring a cohesive and comprehensive exhibition infrastructure. Once these initiatives are completed, the C&E space in Hong Kong will expand by more than 40%, providing a total area of over 220,000 square meters.
The expansion of the C&E space represents a significant investment in Hong Kong’s future as a premier destination for business events. The increased capacity will cater to the growing demand from business professionals seeking a platform to meet, network, and explore partnership opportunities. By providing more space for exhibitions, conferences, and trade shows, Hong Kong aims to attract a diverse range of industries and foster greater collaboration and innovation.
The expansion not only addresses the immediate need for more exhibition space but also positions Hong Kong as a long-term leader in the international Meetings, Incentives, Conferences, and Exhibitions (MICE) industry. As business people from around the world gather in Hong Kong, the city’s reputation as a prime MICE center will be further enhanced.
The additional capacity will allow for larger events, accommodate a greater number of participants, and provide a platform for businesses to showcase their products and services on a grand scale.
