Phase 2 of China National Convention Center to Open in 2024

Beijing, 30th May: China National Convention Center, Phase 2 (CNCC-II), located in the Beijing Olympic Green Area in the north of Beijing, served as the Main Media Center (MMC) for the Beijing 2022 Winter Olympics. The venue is now undergoing transformation into a flexible events venue, aiming to open in 2024.

CNCC-II will feature 420,000 m2 of floor space and 270,000 m2 of meeting and event space in three floors. The first will include a 7,300 m2 divisible plenary hall and 30,000 m2 of exhibition floor space. On the second floor, it will have over 35,000 m2 of function space with meeting rooms in sizes from 100 to 2,000 m2. The top floor will see over 35,000 m2 of function space comprising three banquet halls and two gardens. In addition, there will be over 30 VIP lounges spread across the three floors. The centre complex will also comprise an office building, boutique retail outlets and two hotels.

Messe Frankfurt India’s run of 9 shows in May

India, 3rd June: Messe Frankfurt India, the Indian subsidiary of international exhibition organiser, Messe Frankfurt, hosted nine physical exhibitions and conferences in May, introducing leading innovations by over 600 companies and attracting over 50,000 visitors from 57 countries and 6 continents.

The nine events included the Mumbai debut of Gartex Texprocess India, Denim Show alongside Screen Print India, the Paperworld India, Corporate Gifts Show, Interior Lifestyle India presented by Ambiente India, Media Expo and LED Expo fairs, and the NGV (Natural Gas Vehicles) India Summit.

Global Exhibitions Day 2022 shows value of physical exhibitions

Paris, 3rd June: The seventh edition of Global Exhibitions Day (GED) took place on 1st June 2022. This year’s GED focused on the irreplaceable value of physical exhibitions and face-to-face business events in creating platforms for economic growth and recovery.

The exhibition industry is seeing the re-emergence of face-to-face events as the world moves past the pandemic. GED 2022 reached more than 800 million people around the world online, through social media and web posts, messages and comments.

Melbourne is back for business events

Melbourne, 2nd June: Earlier this month, Melbourne Convention and Exhibition Centre (MCEC) and Melbourne Convention Bureau (MCB) attended IMEX Frankfurt, showing the international market everything Melbourne has to offer as a destination. Resulting demand for business events in Melbourne has bounced back faster than expected.

The Australian team also demonstrated how business events can be conducted safely and effectively in Melbourne with COVID-prevention measures in place. They expect to welcome 17,600 international delegates attending 25 business events in Melbourne before the end of 2022.

Share price movement in B2B media companies involved in Asia

Figure 1: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement over past 12 months)

Figure 2: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement since January 2022)

Quick takes

Japan to slightly ease COVID restrictions

Japan is competing with Hong Kong and China in the contest to remain as cautious as possible about letting in foreigners. Tour packages will be available to citizens of 98 countries, but no independent travel is permitted yet.

Thailand to end “sandboxes”

Meanwhile at the other end of the spectrum, Thailand, much like Singapore has essentially re-opened for business now.

MACEOS launches nine-year roadmap

In Malaysia, MACEOS launches a nine-year roadmap. Perhaps ten years was a bit to ambitious. The strategic roadmap (2022-2030) emphasises innovation, development, education and advocacy – and includes key performance indicators for industry players to uphold and implement.

Constellar gears up for a dynamic event calendar

We have “dynamic COVID-Zero” strategies in mainland China and Hong Kong. Now, Singapore-based organiser, Constellar unveils its dynamic event calendar for the rest of 2022.

Macau hosts 97 MICE events in Q1

Macau, 26th May: Recently, Macau’s Statistics and Census Service (DSEC) released its MICE statistics for the first quarter of 2022. A total of 97 MICE events were held in Macau in the quarter, up 29 events from the first quarter of 2021. The total number of participants and attendees grew 20%, reaching just over 165,000.

A total of 14 exhibitions were held during the quarter, seven exhibitions more than the previous year. The number of attendees increased by 20%, amounting to 158,000. The total gross area occupied by these exhibitions jumped 147% year-on-year, covering a total area of 33,200 m2.

Baidu records loss in Q1

Beijing, 26th May: Also announced last week, Baidu, the leading Chinese language Internet search company, reported revenues of US$4.5 billion for the quarter ended 31st March 2022, which is similar to the figure posted in the first quarter of 2021. The company recorded a net loss of US$140 million in the reported period, compared with a huge profit of US$3.9 billion in the previous year.

About 60% of Baidu’s revenues were generated from its online marketing services, amounting to US$2.7 billion. That figure fell 6.4% year-on-year. While the rest of its revenues, categorised as “other” increased by 14%, to US$1.8 billion. According to the company, the increase in “other” revenues was mainly driven by its cloud and AI-powered businesses.

Alibaba’s revenues up 19% in FY2022

Hangzhou, 26th May: Last week, China’s largest e-commerce company, the Alibaba Group, announced its financial results for the year ended 31st March 2022. Revenues in the year were US$135 billion, representing year-on-year growth of 19%. However, the company posted a 59% drop in net income, down to US$9.8 billion. Diluted earnings per share in the year were RMB 22.74 (US$3.59).

Just 4.1% of total revenues were generated from its B2B businesses, amounting at US$5.5 billion. Revenues from Alibaba’s B2B business in China, mainly through its 1688.com platform, increased by 17% year-on-year, reaching US$2.6 billion. Meanwhile, the international B2B business, Alibaba.com, generated revenues of US$2.9 billion, up 28% year-on-year.

Freeman splits and sells Info Salons

Middle East, 30th May: Freeman announced the sale of Info Salons after it acquired the business in 2018. Freeman sold Info Salons Middle East to GRS Research & Strategy. The value of the deal was not disclosed.

Info Salons was launched in the early 1990’s in Australia by Jo-Anne Kelleway and it was acquired by Freeman in 2018. After the acquisition, Info Salons Group will split into Info Salons Middle East and Info Salons Greater China + Southeast Asia. Both companies will maintain their co-operation in supporting their regional clients. The buyer of Info Salons Greater China + Southeast Asia was not disclosed, but both deals seem to include Info Salons managers as new shareholders.

Quick takes

Hong Kong tries to make lemonade

“Hong Kong flaunts new developments, experiences for tourism revival.” Hong Kong remains one of the few places in the world with a mandatory hotel quarantine for all arrivals. The city’s tourism revival, although much needed, is a long way off in the future.

Japan is another COVID-restricted holdout

Along with Hong Kong and mainland China, Japan’s government is also holding onto highly restrictive entry rules. Each day only 10,000 foreign visitors are allowed to enter the country. The Japanese travel industry is lobbying to end that.

Bangkok effectively works to win bids

Gary Grimmer’s consultancy, Gaining Edge, has released some interesting research highlighting the fact that Bangkok’s government is one of the most effective in Asia at working with associations to win bids. Not really surprising about Bangkok, but an interesting read.

Automechanika to hold nine editions in 2022

Global pandemic aside, in general, automotive shows have not been doing well in recent years. However, Exhibition World reports that Automechanika will be holding nine editions in 2022.

BCEC to host 100 events in May

Brisbane, 18th May: More good news from Australia. The Brisbane Convention & Exhibition Centre (BCEC) will host a total of 100 events this month, including 16 conventions which are expected to feature more than 43,000 delegates.

The 16 conventions to be held at BCEC includes two largely international events, while the others are national or state level events. The conventions are mostly focused on the scientific, medical and healthcare sectors - including leukaemia research, critical care, cardiovascular genetics and nuclear medicine. In June, the venue will host an additional 14 conferences and five exhibitions, as well as a number of corporate meetings and functions.

Bangkok to host 2023 ICCA Congress

 Bangkok, 18th May: Bangkok has been selected to host the International Congress and Convention Association (ICCA) Congress 2023. This is a big win for Thailand as the ICCA Congress is a large, flagship annual meeting for global conference organisers.

Now in its 62nd edition, the ICCA Congress is expected to attract more than a thousand private and public organisations from over 100 countries and regions. The event will run from 12th to 15th November 2023. It will be strongly supported by the Thailand Convention and Exhibition Bureau (TCEB).

CEIR Index shows recovery in U.S.

Dallas, 23rd May: The Center for Exhibition Industry Research (CEIR) has released its latest index tracking the U.S. B2B exhibition industry in the first quarter of 2022, showing that the industry improved significantly compared with the previous eight quarters.

Cancellation rates for physical events dropped to 9.2% in the first quarter of 2022, compared with the rate of 91.3% in the first quarter of 2021, 66.2% in the second quarter, 20.6% in the third quarter and 12.5% in the fourth quarter. In the second half of 2020, an incredible 98% of exhibitions were cancelled.

Hyve’s revenues US$77m in first half

London, 24th May: Earlier this week, Hyve Group plc (formerly ITE Group) released its financial results for the six months ended 31st March 2022. Revenues in the period were £58.6 million (US$77 million), compared with £5.0 million (US$6.5 million) in the same period in 2021. Management attributed the performance to the return to its pre-pandemic schedule of events - with a few important exceptions including China.

Profits before tax in the six-month period were £9.5 million (US$12 million), compared with profits of £29.4 million (US$38 million) in the same period last year. However, excluding the impact of insurance proceeds received, profits would have increased by £18.5 million (US$24 million) due to the recovery of the company’s events.

Share price movement in B2B media companies involved in Asia

Figure 1: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement over past 12 months)

Figure 2: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement since January 2022)

Quick takes

Events industry receives multi-million dollar boost in Western Australia

The government of Western Australia has allocated A$20 million (US$14 million) for a new Major Events Fund, of which A$5 million (US$3.5 million) has been allocated for hosting business events. The funding boost comes at a pivotal time for the industry, which is poised for recovery following the reopening of borders and increased appetite for business travel.

Mala Dorasamy appointed CEO of Mitec

Malaysia International Trade and Exhibition Centre (Mitec) has appointed Mala Dorasamy as its new CEO. Based in Kuala Lumpur, she has served as Mitec’s director of marketing and sales since 2017 and took on the acting CEO role in 2021.

Thailand sees growing international arrivals

New data from the Tourism Authority of Thailand indicates the country is on target to welcome 20 million arrivals in 2023, following the relaxation of entry rules in April. In an encouraging sign, international visitor arrivals increased by 139,982 from 25th April to 3rd May.

Geoff Dickinson elected UFI President for 2023-24

The UFI Board of Directors has elected Geoff Dickinson as UFI President for the 2023-24 period. As Incoming President, Dickinson joins President Michael Duck and Outgoing President Monica Lee-Müller to form the UFI Presidential Trio for the 2022-23 term.

BOL’s profits up 17% in Q1

Bangkok, 13th May: Business Online (BOL), a leading online information service provider in Thailand, announced that it recorded revenues of US$5.01 million for the quarter ended 31st March 2022, representing a 5.3% year-on-year increase. BOL’s net profit for the year grew 17%, reaching US$1.8 million. Diluted earnings per share in the first quarter of 2022 were THB 0.075 (US$0.0022).

Most of BOL’s revenues were generated from its service business, amounting to US$4.9 million. This business increased by 7.2% year-on-year. The remaining revenues were generated from “other income” (US$87,000).

Sino Splendid’s revenues up 29% in Q1

Hong Kong, 13th May: Last week, Hong Kong-listed Sino Splendid (formerly China.com) reported its results for the quarter ended 31st March 2022. Sino Splendid is the owner and operator of the travel media group, TTG.

The company’s total revenues increased by 29% year-on-year, amounting to US$2.3 million during the quarter. However, the company posted a net loss of US$2.7 million, compared with a loss of US$884,000 in the first quarter of 2021.