HKTDC’s jewellery shows back at HKCEC

Hong Kong, 1st March: The 39th Hong Kong International Jewellery Show and the 9th Hong Kong International Diamond, Gem & Pearl Show were held at the Hong Kong Convention and Exhibition Centre (HKCEC) this week. It is the first time that HKCEC has had a “full house” event since the beginning of the pandemic in January 2019. Over 2,500 exhibiting companies from 36 countries and regions were showcased at the jewellery shows.

Organised by the Hong Kong Trade Development Council (HKTDC), the two jewellery shows were held from 1st to 5th March and according to the organiser, the events attracted over 60,000 trade buyers from 130 countries and regions.

Quick takes

GL events exhibition revenues down 4% in 2022

GL events unveiled a 77% rise in its overall revenues for 2022 to €1.3 billion. Meanwhile, its exhibitions business posted a modest 4% decline in revenues in 2022. This was largely due to the nearly complete showdown of China in 2022.

The coming China rebound

BSG chairman, Paul Woodward, published his strongly optimistic take on the outlook for events in China in 2023.

Singapore releases sustainability guidelines for MICE

The Singapore Association of Convention & Exhibition Organisers & Suppliers (SACEOS) together with the Singapore Standards Council (SSC) have released new MICE sustainability guidelines focused on waste management.

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 2023)

IEG establishes IEG Asia in Singapore

Rimini, 28th February: Following the Memorandum of Understanding (MOU) between Italian Exhibition Group (IEG) and the Singapore Tourism Board (STB) signed last October, IEG has established IEG Asia Pte. Ltd. in Singapore. The company also appointed its CEO in Asia and finalised the acquisition of two trade fairs.

IEG Asia is a wholly-owned subsidiary of IEG, with two trade fairs acquired from CEMS – Conference & Exhibition Management Services: Sije – Singapore International Jewelry Expo in the jewellery sector and Café & Restaurant Asia in the food & beverage sector. IEG also appointed Ilaria Cicero as CEO of IEG Asia.

Alibaba’s profit up 138%

Hangzhou, 23rd February: Last week, the Alibaba Group, the largest e-commerce company in China, released its results for the quarter ended 31st December 2022. The company reported total revenues of US$36 billion, up just 2% year-on-year. The company’s net income jumped 138%, reaching US$6.6 billion.

Revenues from Alibaba’s China B2B business, primarily generated through 1688.com, were US$612 million, roughly flat compared with the same quarter in 2021. The international B2B business, primarily operating through Alibaba.com, generated revenues of US$699 million, which is also flat with the previous year. B2B revenues accounted for only 3.6% of the group’s total revenues in the quarter. Cainiao, Alibaba’s logistics service provider, recorded 27% growth year-on-year, with revenues of US$2.4 billion.

Made-in-China.com’s profit up 23% in FY2022

Nanjing, 28th February: Earlier this week, Shenzhen-listed Focus Technology, owner and operator of Made-in-China.com, reported its financial results for the year ended 31st December 2022. Revenues for the year were US$212 million, representing a slight increase of 0.6% over the previous year.

The company’s net income in 2022 grew 23% year-on-year, to US$44 million. Earnings per share were RMB 0.98 (US$0.14). The company’s management attributed the growth to the development of the Made-in-China.com platform.

TCEB launches subsidy project for domestic MICE market

Thailand, 27th February: The Thailand Convention and Exhibition Bureau (TCEB) launched the “Meetings in Thailand, Boosting up the Thai Economy” campaign to stimulate the domestic market with subsidies for meetings and incentive travel.

Under the campaign, businesses and organisations will receive support for hosting meetings, incentive travel, seminars, training, corporate social responsibility (CSR) events, corporate outings and field trips in Thailand. It is estimated that 1,000 domestic MICE industry participants will receive subsidies supporting 30,000 MICE travellers, generating 100 million baht (US$2.9 million) in revenue to boost the economy while creating 120 jobs.

Quick takes

Hong Kong provides HK$550m to support HKTDC

In its 2023-24 budget, Hong Kong has allocated additional funding of HK$550 million (US$70 million) over five years to the Hong Kong Trade Development Council (HKTDC), aimed at helping local enterprises seize opportunities arising from the Belt and Road Initiative and development in the Greater Bay Area, as well as tap into emerging markets and step up global promotional efforts.

Thailand bidding to host Expo 2028 in Phuket

Thailand’s public and private sectors are joining hands in a bid to bring Expo 2028 to Phuket. At the Bureau International des Expositions in Paris on 22nd February, Thailand presented its case for hosting Expo 2028 and also presented Phuket’s sustainability credentials. The kingdom is one of five countries bidding to host the event, and the winner is set to be announced in June 2023.

PATA predicts strong tourism growth in Asia-Pacific

The Pacific Asia Travel Association (PATA) is forecasting a strong rebound in inbound visitor numbers to Asia-Pacific in 2023, with growth rates ranging from 71% to 104% according to various potential scenarios. Total visitor arrivals are expected to reach between 382.9 million and 712.7 million under the same scenarios.

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 2023)

Baidu’s FY2022 revenues remain flat

Beijing, 22nd February: Earlier this week, Baidu, the leading search engine in China, announced its financial results for the year ended 31st December 2022. The company reported revenues of US$18 billion, just 1% down year-on-year. However, Baidu’s net income for the year dropped 26%, down to US$1.1 billion. Diluted earnings per share were RMB 19.85 (US$2.88).

Revenues from Baidu’s core business reached US$14 billion in the year, flat compared with the previous year. The majority of its revenues (US$10 billion) were generated from Baidu’s online marketing business, which dropped 6% year-on-year. The company’s non-online revenue amounted to US$3.8 billion, growing an impressive 22%. Management attributed the growth to strong performances in its cloud and AI-powered businesses.

106,000+ visitors at Automechanika in Shenzhen

Shenzhen, 21st February: Organised by Messe Frankfurt (Shanghai) and the China National Machinery Industry International (Sinomachint), the 17th edition of Automechanika Shanghai concluded on 18th February 2023. A bit confusingly, the Automechanika Shanghai was held in Shenzhen at the Shenzhen World Exhibition & Convention Center. The event attracted more than 106,000 trade visitors from 89 countries and regions.

A total of 3,302 exhibitors showcased their products at the four-day event.  This edition featured a focus on environmental sustainability, autonomy, intelligence and new mobility. The exhibition covered more than 220,000 m2 of exhibition space. This year recorded a 33% increase in trade visitors compared with the previous physical event which was held in 2020.

Informa launches Vitafoods India

New Delhi, 20th February: Finally, the industry is getting back to launching new events in the region. Informa Markets held the inaugural edition of Vitafoods India at Pragati Maidan in New Delhi running from 16th to 17th February 2023. The trade show featured 60 exhibitors and 150 brands from both domestic and global markets.

Organised by Informa Markets, Vitafoods India serves the so-called “nutraceutical market,” bringing together key players in the industry. It also provided a platform for professionals to network, knowledge-share, and conduct business in the Indian market. Four key sectors covered by Vitafoods India were: the nutraceutical industry, including ingredients and raw materials, finished products, contract manufacturing and private label, as well as services and equipment.

MICE industry leaders welcome “Hello Hong Kong”

Hong Kong, 16th February: MICE industry players in Hong Kong eagerly welcomed a new the campaign from the Hong Kong Tourism Board (HKTB). “Hello Hong Kong” aims to put Hong Kong back on the world map for tourism, conferences and exhibitions as China’s and Hong Kong’s borders have re-opened and COVID restrictions have been dropped.

The two main venues in Hong Kong, the Hong Kong Convention and Exhibition Centre (HKCEC) and AsiaWorld-Expo (AWE), teamed up with exhibition organiser leaders and HKTB to support the campaign. According to HKTB, more than a hundred international MICE events have been scheduled in Hong Kong this year – including some being held in Hong Kong for the first time.

Quick takes

Hong Kong government’s budget targets events

This week the Hong Kong government unveiled its latest budget. Plenty of money will be allocated to get Hong Kong back on its feet. The government expects the Hong Kong Trade Development Council (HKTDC) to host ten major exhibitions this year that attract 500,000 visitors and the Hong Kong Tourism Board (HKTB) is being given an addition HK$200 million to attract business events.

Macau’s visitor numbers begin a comeback

In January, Macau’s visitor arrivals jumped by over 100% year-on-year and nearly 260% month-on-month to approximately 1.4 million – boosted by the easing of COVID restrictions and the Lunar New Year holiday. That figure is still far below the 40 million visitors in 2019, but 2023 will still likely record a remarkable recovery.

Routes Asia head to Langkawi in 2024

Informa’s influential conference, Routes Asia, will be held in Malaysia in 2024. Here’s hoping that by 2024 most Asian airlines will have restarted all the much-needed routes and added capacity around the region.

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 2023)

MMI Asia inks deal with Singapore

Singapore, 14th February: MMI Asia, Messe München’s subsidiary in Singapore has signed an agreement with the Public Utilities Board of Singapore (PUB). The two organisations have announced a collaboration over the next ten years to organise and host Singapore International Water Week (SIWW).

MMI Asia will be responsible for the two main elements of the new platform, the Water Expo and a series of high-level conferences, forums and seminars during SIWW. The cooperation will also include a focus on all aspects of the IFAT network.

RELX’s exhibitions business up 64% in 2022

London, 16th February: Yesterday, the RELX Group, the parent company of RX Global (formerly Reed Exhibitions), released its financial results for the year ended 31st December 2022. Revenues in RELX’s exhibitions business posted underlying growth of 64%, amounting to £953 million (US$1.2 billion). Adjusted operating profit for the year was £162 million (US$196 million), compared with a profit of £10 million (US$13 million) in 2021.

Management attributed the growth in revenues of the exhibitions business to a significant increase in face-to-face activity as exhibition venues reopened across most geographies. The company stated that it aimed to manage its event schedule flexibly, responding to changes in local government policies throughout 2022. It also made significant progress on its digital initiatives, building a growing range of digital tools supporting its physical events.

TCEB unveils 5-year plan to promote Thailand

Thailand, 15th February: Thailand Convention and Exhibition Bureau (TCEB) unveiled its five-year action plan (for 2023 to 2027) under the “TCEB Go” strategy and the “Thailand MICE to Meet You Year 2023” campaign in a bid. TCEB aims to revitalise the economy and promote Thailand as a premier MICE destination.

According to TCEB, Thailand welcomed more than 7.9 million MICE travellers, generating 29 billion baht (US$826 million) in the first quarter of the fiscal year (October to December 2022). Of those, 183,000 were international MICE travellers and generated revenue of 12 billion baht (US$348 million). Thailand aims to welcome more than 18 million MICE travellers generating 109 billion baht (US$3.2 billion) in this fiscal year.

BOL’s profit up 16% in 2022

Bangkok, 14th February: Earlier this week, Business Online (BOL), a leading online information service provider in Thailand, released its financial results for the year ended 31st December 2022. Revenue for the year was US$20 million, representing a year-on-year growth of 7.4%. BOL’s net profit for the year grew 16%, reaching US$7.8 million. Diluted earnings per share in 2022 were Baht 0.33 (US$0.0096).

More than 93% of BOL’s revenue was generated from its service business, amounting to US$19 million, an increase of 7.5% year-on-year. The remaining revenue was generated from dividend income (US$1.1 million) and “other income” (US$193,000).

Quick takes

HKTDC is optimistic about jewellery expo

The HKTDC is feeling upbeat about its upcoming jewellery exhibition as border restrictions between Hong Kong and China are removed. It will be interesting to see how many Chinese buyers and exhibitors turn up at the show.

Taiwan to drop indoor mask mandate

Taiwan’s Central Epidemic Command Center (CECC) has decided to finally relax its indoor mask rules beginning on 20th February 2023. The general public will be able to choose whether to wear a mask or not indoors.

Singapore drops all border restrictions

Beginning 13th February, visitors to Singapore will no longer need to show proof of vaccination upon arrival. Those not fully vaccinated against COVID-19 will also not be required to show proof of a negative pre-departure test.