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

EW catches up with Messe Nuremberg CEOs Dr Roland Fleck and Peter...
More

The annual CEIR Index Report bodes well for the future performance of...
More

Exhibition director Simona Greco tells EW whats makes a really good...
More


Latest Magazine
Exhibition World Issue 3 | 2014
Issue 3 | 2014
Supplement: Basque Country
Russia 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
AMERICAS - The Center for Exhibition Industry Research (CEIR) has released Q2 data collected for the annual CEIR Index report, reporting modest year-on-year growth of one per cent.
More

ASIA – The i2i Events Group has expanded its education event portfolio with the launch of the Asia Leadership Summit in Singapore this December.
More

WORLD - Global Experience Specialists (GES) has acquired international AV specialist Blitz Communications, expanding its range of services further into the live events, conference and exhibitions sector.
More

UBM LINING UP ADVANSTAR DEAL
posted on: 18/9/2014 10:44:40
WORLD - UBM has confirmed it is in discussions to acquire Advanstar, a privately held US trade show organiser.
More

WORLD – The International Association of Exhibitions and Events has partnered with the Indian Exhibition Industry Association to offer additional global opportunities to their members.
More