Sign in or Register | Newsletter
 
 
Register today to receive each issue absolutely FREE!
Features

The Exhibit Agency’s John Blaskey on live marketing as a business...
More

EW looks at Thailand’s latest strategy to enhance the Asian...
More

Incoming UFI president Andres Lopez Valderrama talks to EW about his...
More


Latest Magazine
Exhibition World Issue 4 | 2014
Issue 4 | 2014
Supplement: Singapore
Singapore Supplement
ECONOMIC IMPACT STUDY REINFORCES OPTIMISM IN HONG KONG EXHIBITIONS INDUSTRY
posted on: 8/11/2013 11:04:45
Hong Kong

ASIA – A new Economic Impact Study has claimed exhibitions are contributing more than ever before to Hong Kong’s economy, with fiscal benefits amounting to around HK$1.4bn (US$0.8bn) for 2012.
 
The biennial study stated that in 2012, the exhibition industry was responsible for HK$40.8 billion of expenditure in Hong Kong, a rise of 14 per cent from the figures for 2010, and a 6.7 per cent compound annual growth rate (CAGR) from 2010.
 
This figure represents two per cent of Hong Kong’s overall GDP. The study also reports that in 2012, the exhibition industry provided an estimated 69,600 Full Time Equivalent (FTE) employments — a CAGR from 2010 of 0.3 per cent.
 
The Economic Impact Study was released today (8 November) and commissioned by the Hong Kong Exhibition and Convention Industry Association (HKECIA) and carried out by KPMG Transaction Advisory Services.
 
“The period from 2010 to 2012 was a difficult one economically, so it is good news to find from this independently verified study that the exhibition industry in Hong Kong has remained so robust,” said HKECIA chairman Daniel Cheung.

"Exhibitions bring in large amounts of business opportunities and attract hundreds of thousands of high spending visitors. The expenditure and employment opportunities benefit not just exhibition industry players such as venue operators, exhibition organisers and stand contractors, but also hotels, retail, advertising and other sectors.
 
“More generally, they play a vital part in reinforcing Hong Kong’s image as a vibrant, business-friendly international city, and maintaining our status as a global centre for exhibition activity,” he said.
 
Do you have a news story for Exhibition World? Email abyrne@mashmedia.net


Print:
Email:
Share article:

COMMENTS
Would you like to Leave a Comment?

LATEST NEWS
MESSE BASEL HOSTS 21ST OSCE MINISTERIAL COUNCIL
posted on: 17/12/2014 14:42:16
EUROPE – The 21st OSCE Ministerial Council was held at Messe Basel, with delegations from the 57 OSCE member states and a total of some 2000 participants in attendance.
More

GOTHENBURG OPENS THIRD TOWER
posted on: 17/12/2014 13:08:38
EUROPE - Swedish event professionals have welcomed the opening of what they claim is Europe’s largest fully integrated city centre venue in Gothenburg.
More

IAEE ANNOUNCES BOARD CHANGES
posted on: 17/12/2014 11:39:34
WORLD – The International Association of Exhibitions and Events (IAEE) has elected Megan Tanel, vice-president of exhibitions and events of the Association of Equipment Manufacturers (AEM) as chair in 2015.
More

CEIR REPORTS 17TH CONSECUTIVE QUARTER OF GROWTH
posted on: 17/12/2014 11:35:00
AMERICAS – The Center for Exhibition Industry Research (CEIR) has reported continued improvement in the performance of the B2B exhibition industry, during the third quarter of 2014.
More

UBM REVEALS RECORD NUMBERS AT CPHI WORLDWIDE
posted on: 11/12/2014 12:49:49
EUROPE – UBM Live has reported record numbers of visitors and exhibitors at this year’s flagship CPhI Worldwide event at the Parc des Expositions in Paris.
More