Hong Kong. The Hong Kong Exhibition and Convention Industry Association (HKECIA) today announced the results of its annual market survey. Despite the challenging global economic climate in the latter half of 2008, the survey reveals that Hong Kong’s exhibition industry fared better than expected, with only a relatively mild decrease in trade visitors during the year.
Compared to 2007, the number of trade visitors in 2008 fell by 9.4% (totalling over 551,000). Given the extreme economic circumstances facing most world economies in the second half of the year, this statistic is an encouraging proof that Hong Kong remains a sourcing hub of global importance as compared to a drop of some over 10-25% in other parts of the world.
The number of trade visitors from the Mainland declined by only 3% with over 170,000 recorded in 2008, while regional and international numbers recorded a decrease of 13% (over 174,000) and 11% (over 207,000) respectively. These strong visitor numbers from the Mainland are a powerful reminder that Hong Kong plays a pivotal role in connecting China to the rest of the world. Crucially, the net square meterage occupied by exhibitors in 2008 declined by just 2.44% compared to 2007.
This key finding affirms that even as companies were cutting back on international travel, they continued to invest in their exhibition presence – yet further proof that events in Hong Kong are a vital fixture on the global business calendar. Indeed, the number of exhibitions occupying a gross area of more than 1,819 sqm actually increased 1.05% to 96 in 2008.
“These survey findings are an encouraging reminder that Hong Kong remains Asia’s premier sourcing hub and a truly global marketplace,” remarked Stanley Chu, HKECIA Chairman. “With government and industry support, I am confident that the industry will quickly come out of the current recession and once again take the lead as a major engine of economic growth.”
