Macau hosts 307 MICE events in Q1 2024

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Macau, 27th May: Earlier this week, Macau’s Statistics and Census Service (DSEC) released its MICE statistics for the first quarter of 2024. According to DSEC, a total of 307 MICE events were held in Macau in the quarter, compared with 234 events held in the first quarter of 2023. However, the total number of participants and attendees dropped 11.5%, down to 178,400.

Of the 307 events, 289 were meetings and conferences. There were 222 meetings and conferences held in the same period of last year. A total of 12 exhibitions were held during the quarter, which is two more than in the first quarter of 2023.

IFEMA Madrid and BEXCO sign agreement

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Korea, 28th May: Spanish organiser, IFEMA Madrid, has formed an alliance with Busan Exhibition & Convention Center (BEXCO), a Korean venue and event organiser, agreeing to explore and develop new business opportunities.

Under the terms of the agreement, IFEMA Madrid will be able to carry out its internationalisation strategy and open up “new avenues for collaboration and promotion of trade fairs and events in Asia.”

Business events in Australia back to pre-2019 levels

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Australia, 27th May: According to Tourism Australia, delegate numbers in key markets have made it back to pre-2019 levels, with the overall spend reaching A$4.5 million (US$3 million). In terms of business travellers spend in Australia, the top three markets were the U.S., China and New Zealand.

Interestingly, Tourism Australia noted that the strongest segment was incentive groups followed by association meetings. Tourism Australia is investing in hiring staff on the ground in Singapore and elsewhere in Southeast Asia.

Quick takes

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Messe Düsseldorf post strong numbers

Group revenues increased to €423 million in 2023 – up 36% compared to €311 million in the previous year. Net profits also rose significantly, up 56% to €94.6 million. Management highlighted growth in Turkey and Asia. A dividend of €31.5 million was also approved.

The Washington Post lost US$77 million last year

The group lost US$77 million last year and it has recorded a 50% drop in its audience numbers since 2020. Management’s plan to turn things around? New revenue streams such as “flexible payments” and “frictionless payments.” Yikes. That doesn’t sound like it is going to be enough.

Referral revenue from Facebook expected to decline

This is an interesting article on the outlook of referral revenues. Facebook, as a source of referral revenue, has been sliding for many years. 82% of respondents expect that drop to continue followed by YouTube (67%) and TikTok (57%).

The ongoing story of AI vs. publishers

Another good, long article on publishers grappling with how to confront the threat of AI. Publishers and their lawyers are racing to figure out how to protect the value of their data and content. (It seems this article was researched and written by a real person.)