Australia hosts UFI Asia-Pacific Conference for the first time

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Paris/Melbourne, 18th February: UFI, The Global Association of the Exhibition Industry, brought its UFI Asia-Pacific Conference to Australia for the first time. Hosted at the Melbourne Convention and Exhibition Centre (MCEC), the conference ran from 13th to 14th February, gathering industry leaders from more than 20 countries to Australia.

The UFI Asia-Pacific Conference was co-located with the Asia-Pacific Incentives and Meetings Event (AIME) and the Australian Business Events Association (ABEA) Leaders Forum, with a week of exceptional networking, insights, and industry collaboration. The two-day conference featured speakers and leaders from across the APAC region and beyond tackled key issues shaping the exhibition industry.

Chris Skeith OBE, Managing Director and CEO of UFI, commented, “We were thrilled to bring the UFI Asia-Pacific Conference to Australia for the first time ever. As the exhibition industry continues to evolve, the conversations we’ve had here in Melbourne – on sustainability, AI, talent, and more – will help shape the future of our sector in the region and beyond. We’re excited to see the momentum from this event drive innovation and growth across the industry.”

The next UFI Asia-Pacific Conference will take place in Bangkok, Thailand in 2026, and it will be hosted by the Thailand Convention & Exhibition Bureau (TCEB).

1,500+ MICE events held in Macau in 2024

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Macau, 17th February: Earlier this week, Macau’s Statistics and Census Service (DSEC) released its MICE statistics for the year 2024, reporting a total of 1,524 MICE events were held in Macau in the year, up 31% year-on-year. However, the total number of participants and attendees dropped 17%, down to 1,332,000.

Of the 1,524 MICE events held during the year, 1,423 were meetings and conferences, which grew by 32% year-on-year. The total number of participants at meetings and conferences increased by 8.2%, amounting at 185,000.

A total of 61 exhibitions were held in Macau in 2024, which is 3 exhibitions less than the previous year. The number of attendees decreased by 21%, to 1,133,000 attendees. Meanwhile, the total gross area occupied by these exhibitions grew 7.1% year-on-year, covering a total area of 464,100 m2.

DSEC also reported its MICE statistics for the fourth quarter of 2024. A total of 465 MICE events were held in Macau during the quarter, up 22% year-on-year. However, the total number of participants and attendees decreased by 15% from the fourth quarter of 2023, to 325,000.

Baidu’s FY2024 revenues down, but profits up

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Beijing, 18th February: Baidu, the leading search engine in China, has recently announced its financial results for the year ended 31st December 2024. The company reported revenues of US$18 billion, down 1% year-on-year. However, net income for the year grew 17%, reaching US$3.3 billion. Diluted earnings per share for 2024 were RMB 65.91 (US$9.03).

Revenues from Baidu’s core business reached US$14 billion in 2024, up 1% year-on-year. The majority of its revenues (US$10 billion) were generated from Baidu’s online marketing business, declining by 3% year-on-year, while the non-online revenue increased by 12%, amounted to US$4.3 billion.

Robin Li, Co-founder and CEO of Baidu, said, “2024 marked a pivotal year in our ongoing transformation from an internet-centric to an AI-first business. AI Cloud gained momentum, fuelled by broad market recognition of our full stack AI capabilities. In Mobile Ecosystem, we have been steadfast in advancing the AI transformation, making search more AI-native to deliver a better user experience. Apollo Go, after years of investment, validated its business model, paving the way for global expansion and scalable, asset-light strategies. With our strategic foresight increasingly validated, we expect our AI investments to deliver more significant results in 2025.”

For the ended 31st December, Baidu reported revenues of US$4.7 billion, down 2% year-on-year. However, net income for the quarter jumped 100%, reaching US$711 million.

BOL posts decrease in revenues and profits in FY2024

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Bangkok, 14th February: Last week, Business Online (BOL), a leading online information service provider in Thailand, reported its financial results for the year ended 31st December 2024. Revenue for the year was US$21 million, representing year-on-year decrease of 7.6%. BOL’s net profit for the year dropped 5.0%, down to US$8.1 million. Diluted earnings per share for the year were Baht 0.34 (US$0.010).

More than 94% of BOL’s revenue was generated from its service business, amounting to US$20 million, a decline of 6.4% year-on-year. The remaining revenue was generated from the dividend income (US$1.3 million) and “other income” (US$7,400).

According to BOL, due to delays in government budget approval, the company and its subsidiaries, especially in terms of revenue from project revenue, declined as the majority of customers for this type of revenue are government.

Quick takes

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HKTDC new Chairman appointment

The Government of the Hong Kong Special Administrative Region (HKSAR) announced the appointment of Prof Frederick Ma Si-hang as the new Chairman for the Hong Kong Trade Development Council (HKTDC), effective 1st June 2025. His two-year term will run until 31st May 2027.

Jakarta Convention Center rebrands as Jakarta International Convention Center

The Jakarta Convention Center has been rebranded as the Jakarta International Convention Center (JICC). Gelora Bung Karno Complex Management Center (PPKGBK), the management company, plans to establish a dedicated business unit to manage JICC operations, following the rebranding. During the transition period, the venue will be managed by PPKGBK under the leadership of Sri Lestari Puji Astuti, head of marketing and sales at PPKGBK.

Koelnmesse posts strong results in FY2024

International exhibition organiser, Koelnmesse, posted solid results for the year 2024. Turnover for the year was €365 million (US$388 million), with a profit of €20 million (US$21 million). During the year, the company’s trade fairs featured some 34,500 exhibitors from 106 countries, attracting more than 2.1 million visitors. The company also made significant progress in developing its trade fair grounds, expanding its international trade fair business and improving its sustainability.