Hong Kong’s meetings and exhibitions industry has grown strongly over the last two years, according to latest figures, with mainland China driving the bulk of business.
The latest biennial Economic Impact Study showed Hong Kong’s exhibition industry generated HK$35.8bn (£2.9bn) in 2010, compared to HK$30.2bn (£2.45bn) in 2008, and 69,150 full-time jobs
The sum was equivalent to 2.1 per cent of Hong Kong’s total GDP.
Hong Kong is increasingly seen as a hub for companies seeking to open trade links with China and for not-for-profit associations aiming to increase their Asian membership base.
The report, commissioned by the Hong Kong Exhibition and Convention Industry Association (HKECIA), also highlighted spin-off benefits for supporting sectors, including hotel, food and beverage, retail, stand design and construction, and logistics and freight forwarding.
Daniel Cheung, chairman of the HKECIA, said the world’s centre of economic gravity was shifting eastwards. He said: “This increasing business activity is due to the addition of new exhibitions, growth of recurrent shows at AsiaWorld-Expo and the Hong Kong Convention and Exhibition Centre (HKCEC) as well as increased exhibition space arising from the expansion of the HKCEC in 2009.”
However Cheung urged caution: “We need to be mindful of competition from the region. To take full advantage of market trends, Hong Kong’s exhibition industry must remain proactive and continue to invest so that our facilities remain second to none, and our service unmatchable.”