Macau held 71 MICE events in Q3

Macau, 25th November: Macau’s events industry continues to try its best despite being caught in a difficult position with China sticking to its latest version of COVID Zero.  Last week, Macau’s Statistics and Census Service (DSEC) reported its MICE statistics for the quarter ended 30th September 2022. Macau held a total of 70 MICE events in the quarter which is one event less than the same quarter in 2021. On the plus side, the total number of participants grew by 51% year-on-year in the quarter, with a total of 340,700 participants. 

Of the total 71 events, 57 were meetings and conferences, same as the number of the same quarter last year. Total number of participants at meetings and conferences dropped 3.5%, down to 6,100 participants. 

Messe München establishes new position in China

Shanghai, 28th November: Messe München has announced plans to create a new position, “President China.” Evan Sha, an experienced trade fair manager, has been appointed as the new position which will be part of its subsidiary in Shanghai, Messe München Shanghai. Sha officially started in the role yesterday, 1st December 2022. 

Sha will also act as Vice-Chairman of the Board of Directors, and he will oversee most board functions at Messe München Shanghai. Sha has almost 30 years of experience in the trade fair industry. He graduated from Shanghai University and was a member of the Executive Board of Messe Frankfurt Exhibition in China from 2007 to 2014. Prior joining Messe München Shanghai, he was COO at GL events in China.

Melbourne Convention Bureau secures 110 events

Melbourne, 28th November: According to the Melbourne Convention Bureau (MCB), the economic contribution generated by business events in Victoria increased by 33% in the financial year 2021/2022. 

According to MCB, 110 events generated economic contribution in Victoria of A$203 million (US$136 million). Those events run through to 2028 and are expected to bring more than 53,200 visitors to Victoria and result in over 90,300 room nights. 

Comexposium, InterAds and Vinexposium collaborate in India

New Delhi, 29th November: The upcoming SIAL India will be collocated with Vinexpo India. The show will take place in New Delhi running from 1st to 3rd December 2022. It is jointly organised by InterAds Exhibitions, Comexposium and Vinexposium. 

Comexposium describes SIAL India as a “global food innovation network,” while Vinexpo India is a trade fair organised by Vinexposium. The two shows are expected to feature over 300 exhibitors from over 40 countries and will attract some 10,000 professional visitors. 

Quick takes

Automechanika Shanghai 2022 postponed

Things are getting more messy and quite tense in China. It is difficult to name a city in which events are currently permitted and street protests, obviously a rare sight in China, have popped up in many cities across the country.

China Homelife to go ahead in Mumbai

This one is quite hard to work out. Meorient is a Chinese exhibition organiser known for trade fairs that bring Chinese exporters to its events held in countries such as India, Poland, Mexico and the UAE. With China’s borders effectively closed, it is not clear how the Chinese exhibitors are getting to the Bombay Exhibition Centre.

Singapore promotes its MICE sustainability

In happier news, SACEOS and Singapore forge ahead with its MICE Sustainability Roadmap. Singapore is really doing its best to show that the pandemic will no longer hold them back.

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

Asian event planners face rising travel costs

Business events in Asia are facing later than usual registrations. Travel costs are rising. Logistics and operations challenges are emerging such as venue owners, freight forwarders and contractors being “rusty post-lockdown” and persistent labour shortages.

AMR acquired by U.S. consulting firm

AMR International, an exhibition industry consultancy, has been acquired by Stax, a generalist consulting firm headquartered in Boston. Financial details of the transaction were not disclosed.

Hong Kong organisers calls for the end of restrictions

Duncan Cheung, exhibition industry veteran and organiser of the Mega Show, calls on the Hong Kong government to follow the lead of Singapore and Thailand and drop COVID restrictions for the good of the economy.

Escape from a Shanghai art trade fair

This is a simultaneously sad and hopeful article. Chinese authorities are clearly a long way from easing off their COVID-Zero “strategy,” but on the plus side, it is clear that exhibitors and visitors are desperate to get back to business events.

Kuala Lumpur Convention Centre bounces back

Kuala Lumpur, 22nd November: After Malaysia’s government eased its quarantine and social distancing measures earlier this year, the Kuala Lumpur Convention Centre (KLCC) saw a significant bounce back in demand for in-person events, achieving 40% more than its expected 2022 targets. It is forecast that the business industry will return to pre-pandemic levels sooner than expected in early 2023.

So far, KLCC hosted about 1,350 events attracting over 750,000 delegates and contributing RM 285 million (US$62 million) in economic impact to Malaysia in 2022. According to the venue, its 2022 results equate to approximately 90% of its 2019 performance. In addition, about 50% of its 2023 target has already been confirmed.

UFI Global Congress heads to Cologne in 2024

Paris/Cologne, 15th November: Last week, UFI, the Global Association of the Exhibition Industry, recently concluded its annual Global Congress in Muscat, Oman. UFI welcomed more than 400 UFI delegates, from over 50 countries and regions, to its 89th annual Global Congress in Muscat, Oman.

UFI CEO Kai Hattendorf stated, “This year’s Congress will be remembered for a long time. We returned to the Middle East for the first time in ten years, and we see significant progression in the industry throughout the region, with more markets growing their infrastructure and offerings for our sector. We re-balanced the mix between networking and content time. The networking areas were buzzing, the stands of our partners were busy. We were delighted to welcome many first time attendees, and we’re even more pleased to know they left with new peers and contacts.”

Baidu narrows loss in Q3

Beijing, 22nd November: Earlier this week, Baidu, the leading Chinese language Internet search provider, released its financial results for the quarter ended 30th September 2022. Revenues in the quarter were US$4.6 billion, an increase of 2% year-on-year.

The company also narrowed its loss to US$21 million in the quarter, compared with a loss of US$2.6 billion in the same quarter in 2021.

Alibaba Group posts loss in Q2

Hangzhou, 17th November: Last week, Alibaba Group, one of China’s leading e-commerce companies, released its financial results for the quarter ended 30th September 2022. The company recorded total revenues of US$29 billion, up 3% year-on-year. However, the company posted a net loss of US$2.9 billion, compared with a net profit of US$833 million in the same quarter in 2021.

Revenues from Alibaba’s B2B business in China, primarily generated through 1688.com, were US$592 million, representing an increase of 2% year-on-year. Revenues from its international B2B business, primarily operating through Alibaba.com, increased by 3% amounting to US$704 million.

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

UFI’s Global Congress in Muscat attracts 400+

More than 400 delegates from dozens of countries gathered in Muscat, Oman this week as the global exhibition industry recovers from the global pandemic.

Tempers flare in China heat up as restrictions continue

Residents in Guangzhou took to the streets, defying a compulsory lockdown and have clashed with police as anger at COVID restrictions heats up. Meanwhile, 20 million in Chongqing are put under a new lockdown.

Fukuoka CVB unveils new activities

As Japan continue to recover after nearly three years of closed borders, the Fukuoka Convention & Visitors Bureau (FCVB) has launched a range of activities focusing on attracting incentive groups.

Adelaide Convention Bureau launches rebrand

Adelaide, 9th November: Founded in 1974, the Adelaide Convention Bureau has recently been rebranded as Business Events Adelaide. According to the organisation, the new name better reflects its mission and removes the ambiguity of it being erroneously related to tourism and major events.

Business Events Adelaide will focus on attracting all kind of business events, including meetings, conventions, conferences, exhibitions, seminars, symposiums and corporate incentives.

Sino Splendid up 26% in revenues

Hong Kong, 11th November: Earlier this week, Hong Kong-listed Sino Splendid (formerly China.com) announced its financial results for the nine months ended 30th September 2022. Revenues in the period were US$6.9 million, a 26% increase compared with the same period of last year. However, the company posted a net loss of US$2.4 million in the period, compared with a loss of US$2.2 million in the first nine months of 2021.

Sino Splendid attributed the revenue growth to strong performance from its financial magazine business where revenues were up 57% year-on-year. More than 78% of Sino Splendid’s revenues were generated from its financial magazine & other media businesses amounting to US$5.4 million.

BOL’s profit up 17% in Q3

Bangkok, 11th November: Business Online (BOL), a leading online information service provider in Thailand, has reported its financial results for the quarter ended 30th September 2022. Revenues in the quarter were US$5.2 million, representing a year-on-year increase of 6.8%.

In addition, the company’s net profit grew 17% in the same quarter of 2021, reaching US$2.4 million. The company attributed the growth in revenues to an expansion of its customer base and a growth in revenues from existing customers.

Informa’s revenues jump more than 40%

London, 14th November: Informa PLC, the London-listed B2B media company, has released its latest trading update highlighted by a 10-month underlying revenue growth of 41% in its continuing businesses. This is reflected by growth in Academic Markets and all three B2B Markets businesses (Informa Markets, Informa Tech, Informa Connect).

As a result of strong performances in its Live and On-Demand Events in North America, EMEA and ASEAN and by the continuing growth in Academic Markets, the group raised its revenue guidance of £2.3 billion to £2.35 billion (US$2.56 to US$2.63 billion) and adjusted operating profit of £490 million to £505 million (US$547 to US$564 million).

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

Air travel is rising in Asia, but lagging globally

In another positive sign for the region, Asian airline passenger traffic has increased by five-fold to 62 million between January and September when compared to the same period in 2021. And the international passenger load factor has risen by 40% to average 70%.

ICCA elects new president

At ICCA’s 61st Congress in Kraków, Poland, the association’s members voted for Marta Gomes as the new ICCA president, succeeding James Rees. Gomes is currently the deputy executive director, sales, of Viparis which manages and operates ten convention and exhibition centres in Paris.

Clockenflap returns to Hong Kong in 2023

After three years of cancelled dates, the three-day music festival, Clockenflap, will return to Hong Kong in March 2023. This announcement follows the Hong Kong Sevens rugby tournament last weekend. In order to attract international visitors, the Hong Kong government will need to scrap its “0+3” testing policy by then.

IACC & MPI announce strategic alliance

Worldwide, 31st October: IACC, a global association representing leading small- and medium-sized conference and meeting venues, has announced a strategic partner with Meeting Professionals International (MPI), a leading global meetings and events industry association.

The two organisations will work together to advance the global events community by shared knowledge and connected intelligence. Under the terms of the new partnership, IACC will engage with MPI’s network of more than 95,000 meeting and event professionals to promote its member meeting venues.