Affected by the new crown epidemic and quarantine restrictions in the past two years, large-scale exhibitions and conferences in Hong Kong have been forced to suspend or move to other regions including Singapore.
However, as the Hong Kong government gradually lifts quarantine restrictions and foreign customs clearance, the exhibition industry is expected to usher in a recovery. According to industry insiders, large-scale events that have been suspended in the past two years, including exhibitions "snatched" by Singapore, will return to Hong Kong this year. Hotel conference halls are already full or nearly full until March, and some hotels are still full even after a 50% price increase.
However, a recovery to pre-pandemic conditions is not expected to take until at least next year.
Tang Jincheng, executive member of the Hong Kong Exhibition and Conference Industry Association, said that the exhibition industry in Hong Kong is expected to recover significantly this year, and many large-scale international events that were suspended due to the epidemic in previous years will be reorganized within this year.
(Screenshot of Hong Kong International Jewelry Festival website)
HKTDC: Non-local exhibitors have increased significantly at the beginning of this year
A source close to the TDC told "Hong Kong 01" that with the customs clearance between Hong Kong and the mainland and the world, all the large-scale exhibitions that were taken away by Singapore last year will be resumed in Hong Kong this year.
Li Keyi, executive vice president of the Hong Kong Exhibition and Convention Association, also said earlier that the large-scale jewelry exhibition and Thailand fruit exhibition held in Singapore last year will return.
In response to the inquiries of "Hong Kong 01", the HKTDC stated that the number of non-local exhibitors had increased significantly at the end of last year and the beginning of this year.
Taking the just-concluded Toy Fair, Baby Products Fair and Stationery Fair as examples, more than 1,000 companies participated, more than half of which were companies from outside Hong Kong, and about 30% of the buyers who participated in the physical fairs were non-local buyers.
As for the Asian Financial Forum, which will return to the entity again in 2020, it was also held on January 12, attracting the participation of more than 120 international financial institutions, technology companies, start-ups and investment promotion agencies, of which about three are non-local companies.
Hong Kong's exhibition industry has inherent advantages
In this new year, the Trade Development Council said that it is ready, and will have flagship exhibitions and conferences every month, such as the film and television exhibition and jewelry exhibition in March, the technology-based international innovation and technology exhibition in April, fashion festivals, fashion Home products exhibition, gift and premium exhibition, international health week in May, etc.
Coupled with the government's extension of the Convention and Exhibition Industry Subsidy Scheme and the use of the EMF (Small and Medium-sized Enterprise Marketing Fund), it is believed that more international and Mainland enterprises will be attracted to do business in Hong Kong.
Tang Jincheng, executive member of the Hong Kong Exhibition and Convention Industry Association and managing director of Huizhong Exhibition Services, said that the Hong Kong exhibition industry is expected to recover significantly this year, and many large-scale international events that were suspended due to the epidemic in previous years will be reorganized within this year.
Compared with neighboring countries such as Singapore, Hong Kong has an innate geographical advantage in holding large-scale international exhibitions. It is backed by Mainland China, which is also a major producer and consumer country, and provides a rich source of exhibitors and buyers. In terms of transportation, from Departing from major cities in Asia is much more convenient and quicker than Singapore.
Chen Fangying, Chief Executive Officer of AsiaWorld-Expo, said that the AWE team has actively communicated with local and overseas organizers and prepared for the needs, fully embracing the recovery of the convention and exhibition industry.
(Photo by McCain)
AWE is fully prepared for the recovery of the exhibition industry
Chen Fangying, CEO of AsiaWorld-Expo, said that the recent announcement by the Hong Kong government to close some respite centers in AsiaWorld-Expo shows that the social recovery is becoming more optimistic, and the AsiaWorld-Expo is also ready to welcome a series of expo activities, such as The "Global Sources Spring Series Exhibition" to be held in April will use all 10 exhibition halls of AWE for exhibition purposes.
She pointed out that other large-scale international exhibitions including "Asia Fruit Logistica" and "September Hong Kong Jewelery & Gem Fair" have also confirmed their exhibition dates at AWE in 2023. The AWE team has already actively cooperated with local and overseas organizers Communication and preparation needs to fully meet the recovery of the convention and exhibition industry.
Fok Ka-hui, managing director of ZT Communications Consulting, said that many hotels are already full or close to full bookings for conference venues until March, and some hotels are still full even after a substantial price increase of 50%.
(Photo provided by Hong Kong 01 Travel Co., Ltd.)
The hotel conference hall is still full with half the price increase
Fok Ka Wai, Managing Director of ZT Communications Consulting, said that thanks to the relaxation of the quarantine policy by the Hong Kong government, many overseas customers, including Singapore companies, have begun to plan to hold physical meetings or activities in Hong Kong this year due to the fact that traveling to and from Hong Kong has become more convenient. In addition, there are also Hong Kong companies And mainland companies that have already settled in Hong Kong have also begun to have related plans.
She went on to say that the current situation of hotels booking large conference venues has been significantly improved compared with the past two or three years during the epidemic. Report full.
However, a reporter checked the website of 10times, a gathering platform for conferences and exhibitions, and found that Hong Kong has a total of 215 events from today to the end of the year, which is still far behind Singapore's 703 events.
Huo Jiahui believes that Hong Kong has just opened to the outside world. Compared with before the epidemic, the current situation of physical meetings held by customers has only recovered to about 70%. I believe that it will take at least until the end of this year to have a chance to fully recover.
Among the clients who continue to hold back physical meetings, many are still worried about the rebound of the epidemic. Some of them have limited budgets after the business has been sluggish during the past two or three years during the epidemic, or they have become accustomed to holding meetings online during the epidemic.
Tang Jincheng also said that it is difficult for Hong Kong's exhibition industry to fully recover to the pre-epidemic situation this year. It is expected to wait until at least next year. The biggest constraint is its own exhibition industry and the supporting aviation and hotel industries. Employees have switched careers.
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Difficulties in recruiting manpower in the exhibition industry hinder expansion
Tang Jincheng also said that it is difficult for Hong Kong's exhibition industry to fully recover to the pre-epidemic situation this year, and it is expected to wait until at least next year, because many aspects still need time to recover due to the opening and closing of the outside world. The biggest constraints are the exhibition industry itself and the supporting aviation and hotel industries , In the past two years, due to the epidemic, the business has shrunk, including layoffs, and the current speed of re-expansion may not be able to keep up with the growth in demand.
At present, these industries are facing difficulties in recruiting people, and many employees have changed careers. Tong Jincheng took his exhibition company as an example, and the current vacancy rate is as high as 20 to 30%.
At the same time, the business of exhibitors and buyers has been affected by the epidemic in the past two years, and their budgets will be limited, which also limits the scale of the exhibition in disguise.
