Hong Kong’s future suddenly brightens

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Hong Kong, 4th February: As of 6th February 2023, travel restrictions between Hong Kong and China were eased as the daily quota for land crossings into Hong Kong were dropped. In addition, the PCR tests on arrival are no longer needed.

Three border checkpoints in Hong Kong reopened as well, including Lo Wu Control Point, Liantang/Heung Yuen Wai Control Point, and Lol Ma Chau Control Point. However, travellers had been outside of China seven days prior to their visit to Hong Kong, and will have to present a negative PRC test result within 48 hours of border crossing.

Ungerboeck rebrands Momentus Technologies

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St. Louis, 30th January: Ungerboeck, a venue and event management software provider, has rebranded as Momentus Technologies. The new name apparently reflects the company’s “evolution to unify its organisation and vertical-specific software under one vision to meet the dynamically changing needs of the venue and event management industry.”

Along with the new name, Momentus plans to provide more comprehensive purpose-built solutions. The company also plans to clarify the value it delivers for customers. Management believes that the new name will bring a renewed energy and passion for the venue and events industry while maintaining and growing its customer-centric mission.

Mainland China also resumes open borders with Macau

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China, 8th February: More good news for Hong Kong (and Macau). Mainland China has now fully resumed normal travel conditions with Hong Kong and Macau as of 6th February 2023.

All cross-boundary control points were operational between Hong Kong and Mainland China. Travel agencies in Mainland China are also now allowed to organise group tours to both Hong Kong and Macau. Beijing maintains that this will speed the recovery of the tourism industry in China, Hong Kong and Macau.

Quick takes

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Is Hong Kong ready to rev its economic engine?

HKECIA Chairman, Stuart Bailey, has done an excellent job over the last three years lobbying and educating the Hong Kong government about the value of business events. He now points out that it is not just event organisers and venues that need to be ready for the international visitors. All of the supporting industries need trained staff – e.g. hotels, airlines, restaurants, etc. It remains a serious problem.

UFI CEO on the future of trade shows

Kai Hattendorf covers a lot of ground here – the future evolution of trade shows, changing business models, event technology, staffing, sustainability, how and where we will meet and so on. It is nicely summarised in this article.

ASEAN exhibition markets ready to go

A new industry event was launched last week at the ASEAN Tourism Forum 2023. The inaugural Southeast Asia Business Event Forum (SEABEF) featured Edward Liu predicting that three years of the zero-COVID strategy in China will lead to European and US organisers put more emphasis on South-east Asian markets. We shall soon see if there is any truth to that…

Quick takes

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KLCC expecting more than 700,000 visitors in 2023

Malaysia’s Kuala Lumpur Convention Centre has already confirmed over 200 events in 2023, which are expected to draw more than 700,000 delegates and visitors throughout the year. Including 28 new conferences and exhibitions, KLCC has booked 18 international and national conventions, 35 exhibitions and around 160 corporate meetings and events so far in 2023.

GL events reports 77% gain in annual revenue

Integrated event industry group GL events reported annual revenue of US$1.32 billion, up 77.4% from the previous year. The Group noted that recent growth in Europe and the Americas more than offset the decline in Asia, which continued to be impacted by China’s lockdown measures during the year.

Koelnmesse expected to reach €237 million turnover in 2022

Expecting to achieve turnover of €237 million (US$254million) in 2022, Koelnmesse has continued its upward trend in revenue, building on returning confidence in trade fairs as a marketing tool and strict cost-cutting measures. Koelnmesse anticipates further normalisation of its event business in 2023, and is planning a total of 74 events this year.

Tarsus looking towards a bright 2023

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London, 23rd January: Tarsus Group, a global B2B events and media business, forecasted a strong year in 2023, based on the lifting of China’s strict zero-COIVD policy and the group’s robust launch strategy.

Tarsus launched eight new events in 2022, and 15 additional are planned for 2023. The company has strategically focused on key territories, with a strong presence in the U.S. and large operations in the Middle East and China.

Pico Far East revenues up 12% in FY2022

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Hong Kong, 30th January: Hong Kong-listed Pico Far East Holdings reported its annual results for the year ended 31st October 2022. The company posted revenues of US$579 million, up 12% year-on-year. Pico’s net profit grew 19% during the year, reaching US$21 million. Diluted earnings per share in the year were HK$0.1313 (US$0.017).

The company attributed the strong performance to its pre-emptive transformation and planning, which enabled the company to capture growth opportunities.

Informa posts strong 2022 performance

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London, 19th January: London-listed Informa PLC has recently released its full year trading update for 2022. Revenue is expected to be £2.38 billion (US$2.9 billion). Adjusted operating profit was about £530 million (US$638 million), and free cash flow was £440 million (US$529 million).

Informa’s B2B Events portfolio is expected to deliver 70% of underlying revenue growth through Live Events in 2022.

UFI: global exhibition industry is reaching pre-pandemic levels

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­Paris, 31st January: Earlier this week, UFI, the Global Association of the Exhibition Industry, released its latest Global Exhibition Barometer survey. The biannual survey report highlighted the quickening pace of the exhibition industry’s recovery in 2022 and a positive outlook for 2023.

With COVID-19 restrictions now a memory in most markets, full recovery is expected in 2023, save for a few market exceptions. More than 70% of the respondents declared a return to “normal activity” in December 2022, compared with only 30% in January 2022, and this figure is expected to reach 80% in June 2023.

Canton Fair’s venue expand to be world’s largest exhibition complex

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Guangzhou, 10th January: The China Import and Export Fair Complex (Canton Fair Complex) is on its way to becoming the world’s largest exhibition complex.

The construction on the expansion started in December 2020 with four functional areas: exhibition halls, conference centre, administration centre and registration hall. After completion, the Canton Fair Complex will cover more than 1.62 million m2.

Comexposium expands Retail’s Big Show to Asia

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Singapore, 16th January: The Paris-based event organiser, Comexposium and the National Retail Federation (NRF) announced plans to expand Retail’s Big Show to Asia in 2024 featuring a new conference and exhibition. The inaugural Asia Pacific edition of Retail’s Big Show will take place at the Sands Expo and Convention Centre in Singapore running from 11th to 13th June 2024.

Retail’s Big Show Asia Pacific will be added to Comexposium’s portfolio of retail events which includes: One to One Retail E-commerce, Paris Retail Week and SIEC in France, Franchise Expo in the Americas, adTech in Japan and India, and iMedia in Australia and New Zealand.

Thailand bids for World Expo 2028

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Thailand, 18th January: Thailand plans to bid to host the 2028 World Expo in Phuket. In support of that, Thailand’s Foreign ministry hosted the “Local to Global” Phuket Expo 2028” campaign to rally the nation and businesses to support the bid.

Approximately 250 representatives from the diplomatic community in Thailand attended the campaign kick-off. Thailand’s has selected a theme of “Future of Life: Living in Harmony, Sharing Prosperity” for its bid.

Quick takes

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China’s population declines

China’s population has fallen for the first time in 60 years. The country’s national birth rate was at a record low of 6.77 births per 1,000 people. The population in 2022 fell by 850,000 compare with 2021.

Macau’s tourism recovery is underway

Macau recorded more than 55,000 visitor arrivals on 14th January. In December 2022, the city had a daily average of 12,909 visitors. During the lunar new year holiday, an average of 47,000 visitors is expected.

Singapore is ready for Chinese business visitors

The government in Singapore is optimistic about the pace of recovery of visitors from China. Outbound bookings from China have already surged – as have airfares. Business event organisers in the Lion City are anticipating a large boost to their businesses.

Register today for UFI’s first Asia Pacific Conference since 2019

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For the first time since 2019, UFI’s Asia Pacific Conference will be back in-person!

Open to both members and non-members, the event will be held on 2nd and 3rd March in Kuala Lumpur at KLCC. Hosted by MyCEB, the conference will feature two days of content, networking and much more!

Conference details and registration on the event website.

Hyve’s FY2022 revenues exceed pre-COVID

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London, December: The Hyve Group plc (formerly ITE Group), a London-listed media group, has released its preliminary results for the year ended 30th September 2022. Revenues for the year were £122.5 million (US$137 million) compared with the figure of £21.8 million (US$24 million) in the previous year. The group’s 2022 revenues were slightly higher than 2019’s pre-COVID revenues of £121.5 million (US$136 million).

According to Hyve, the majority of its events continued to recovery during the recent financial year, with the important exception of China, where most of the group’s events were cancelled due to government mandated pandemic restrictions.

In Asia, Hyve generated revenues of just £5.8 million (US$6.5 million) in the financial year – an improvement of 35% compared with the year before.

Constellar partners with China National Convention Center

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Singapore, 10th January: Constellar, a Singapore-based event organiser and venue manager, has entered into a Memorandum of Understanding (MOU) with the China National Convention Center (CNCC), a convention centre in Beijing.

This MOU enables Constellar and CNCC to explore strategic partnership opportunities and facilitate MICE industry exchanges between Singapore and China in 2023 and beyond.