Singapore ranks 2nd worldwide in ICCA’s annual report

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Amsterdam, 13th May: ICCA, the International Congress and Convention Association, has recently released its ICCA Ranking Report for 2023. According to the report, Europe hosted a total of 5,735 meetings, while Asia hosted 2,041 and North America hosted 1,873. Africa and the Middle East surpassed their 2019 levels, while other regions posted declines. Ranked by country, the U.S. led the table with 690 recognised meetings, followed by Italy (553) and Spain (505).

In the Asia-Pacific region, Japan hosted 363 meetings and ranked seventh worldwide, Korea hosted 252 meetings (11th worldwide), Australia hosted 219 meetings (13th worldwide), China had 170 meetings (18th worldwide), Singapore had 152 meetings (21st worldwide), Thailand hosted 143 meetings (26th worldwide) and India hosted 123 meetings (30th worldwide).

Ranked by city in the region, Singapore topped the list with 152 meetings and ranked the second worldwide, followed by Seoul with 103 meetings. Other highly ranked cities include: Tokyo (91 meetings), Bangkok (88 meetings) and Taipei (68 meetings).

Alibaba’s shares jump on 13% revenue growth

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Hangzhou, 14th May: Earlier this week, China’s largest e-commerce company, the Alibaba Group, announced its financial results for the year ended 31st March 2024. Revenues in the financial year were US$130 billion, representing year-on-year growth of 13%. Net income in the year grew 9%, reaching US$9.9 billion. Diluted earnings per share for the year were RMB 31.24 (US$4.33).

In terms of its B2B business, revenues generated from Alibaba’s B2B business in China under the Taobao and Tmall Group, mainly through its 1688.com platform, were US$2.8 billion, resulting in a year-on-year increase of 15%. The international B2B business under the Alibaba International Digital Commerce Group, primarily on Alibaba.com, posted a 7% increase in revenues, reaching US$2.9 billion. The B2B businesses only accounted for just 4.4% of Alibaba’s total revenues.

Baidu’s revenues flat in Q1 2024

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Beijing, 16th May: Yesterday, Baidu, the leading Chinese language Internet search company, reported revenues of US$4.4 billion for the quarter ended 31st March 2024, which is a slight increase of 1% year-on-year. The company recorded a decrease of 6% in its net profits in the quarter, down to US$755 million. Diluted earnings per share in the quarter were RMB 1.86 (US$0.26).

More than 58% of Baidu’s revenues were generated from its online marketing services, amounting to US$2.6 billion. That figure grew 2.9% year-on-year. The remaining revenues, categorised as “other” dropped by 1.1%, amounting to US$1.8 billion. According to the company, its AI business was still the key growth driver of the its revenues.

BOL posts decrease in revenues and profits in Q1

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Bangkok, 14th May: Business Online (BOL), a leading online business information service provider in Thailand, also reported its financial results for the quarter ended 31st March 2024. The company recorded revenues of US$5.0 million for the quarter, representing a decrease of 3.9% year-on-year.

BOL’s net profits for the three-month period dropped 4.2% to US$1.8 million. Diluted earnings per share in the first quarter of 2024 were Baht 0.08 (US$0.0022).

Quick takes

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Penang adding capacity, but space still tight

It has been a busy week with quite a few noteworthy announcements coming out of IMEX in Frankfurt. Penang has added capacity with its large-scale venue, the Penang Waterfront Convention Centre (PWCC) which will open next spring, but its CVB CEO said at IMEX space for business events could still run out in the next two years.

Singapore commits to carbon neutral events

At IMEX Frankfurt, the Singapore Tourism Board (STB) launched a toolkit to achieve more sustainable business events. The STB is aiming for carbon neutral participation at international tradeshows. This is the first time STB has committed to holding itself accountable to carbon neutral standards.

RX appoints new GM of RX India

International exhibition organiser, RX Global, has appointed Umang Gupta as the Country General Manager for RX India. He was previously the Marketing Director for Elsevier in India & Southeast Asia. In the new role, he will focus on expanding RX’s events portfolio in India.

Hong Kong to host Routes World 2025

AsiaWorld-Expo will host Informa Markets’ Routes World 2025. The event will attract 3,000 delegates from airlines and airports. It features industry executives, heads of air-network planning and other participants from more than 260 of the world’s leading airlines. The 30th edition of Routes World is scheduled to be held from 24th to 26th September 2025 when Hong Kong’s third runway will be operational.