Meorient’s revenues jumps 237%

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Hangzhou, 31st October: Earlier this week, Meorient, a Chinese exhibition organiser listed in Shenzhen, announced its financial results for the first nine months of 2023. Revenues in the period were US$65 million, an impressive increase of 237% year-on-year.

The Hangzhou-based company posted a profit of US$11 million during the nine-month period, compared with a loss of US$1.8 million in the same period last year. Diluted earnings per share in the first nine months of 2023 were RMB 0.54 (US$0.074).

Made-in-China.com’s profit up 12% in Q3

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Nanjing, 31st October: Shenzhen-listed Focus Technology, which owns and operates the B2B trading platform, Made-in-China.com, recently released its financial results for the quarter ended 30th September 2023. Revenues were US$53 million, about the same as the third quarter of 2022. Profit in the quarter increased by 12% year-on-year, amounting to US$15 million.

For the first nine months of 2023, the Nanjing-based company generated revenues of US$154 million, a year-on-year increase of 1.4%. The company posted a profit of US$41 million, which is a growth of 25% over the same period of last year.

Quick takes

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UFI elects new Board of Directors for 2023-2026

UFI has announced the results of the elections for the new UFI Board of Directors for the 2023-2026 term. The new mandates will commence after the General Assembly meeting takes place on 1st November 2023 at the UFI Global Congress in Las Vegas.

Messe Frankfurt expanding into Indonesia 2024

Messe Frankfurt is launching its first trade fair in Indonesia, Asiabike Jakarta, which aims to become the leading platform in the region for showcasing two-wheeler innovations and fostering business opportunities in the mobility sector. The inaugural edition is scheduled to take place from 30th April to 4th May 2024 at the Jakarta International Expo (JIExpo).

GBTA sees corporate travel rebound in 2023

According to the latest Global Business Travel Association (GBTA) Business Travel Outlook Poll, most industry stakeholders report business travel largely (43%) or mostly (41%) recovered in 2023 when compared with 2019 levels. Respondents said domestic business travel spending had reached 77% of pre-pandemic levels, while international spend had recovered to 74%.

GL events exhibitions’ revenue up 83%

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Lyon, 18th October: GL events released its financial results for the nine months ended 30th September 2023. It reported revenue growth of 26% reaching US$1.1 billion.

In terms of business sectors, GL events Live generated more than half of its total revenues, amounting to just over US$600 million, up 17% year-on-year. The second largest sector was GL events Venues, with revenues of US$282 million, which accounts for 26% of GL’s total revenues, representing year-on-year growth of 21%.

The remaining revenues were generated by GL events Exhibitions, which jumped 83% year-on-year, reaching US$191 million. According to the GL events, GL events Exhibitions posted a strong performance in the third quarter with a strong post-pandemic rebound.

Messe Stuttgart enters the Indian market

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India, 23rd October: International exhibition organiser, Messe Stuttgart, plans to enter the Indian market by launching Messe Stuttgart India with new exhibitions to be held in 2024. Sahin Patil has been appointed as new Managing Director of Messe Stuttgart India.

Messe Stuttgart India will launch MOLDEX India, an international fair focused on tools, patterns, and mould making; and FASTNEX India, an international trade fair serving the fastener and fixing industry. The company will also launch the Indian edition of its LogiMAT Stuttgart, LogiMAT India, to address the Indian logistics industry.

Messe Stuttgart India previously acquired DIDAC India, an exhibition and conference focused on education and skills resources. DIDAC Skills, a specialised offshoot exclusively targets skills development for India’s youth will also be launched.

Hong Kong reiterates plans to boost MICE capacity – again

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Hong Kong, 25th October: The Hong Kong Special Administrative Region’s Chief Executive, John Lee, released the latest 2023 Policy Address this week.

In terms of the convention and exhibition industry, the government continues to promise to support and promote the development of the industry. The new facilities mentioned by Lee have been long planned. AsiaWorld-Expo‘s (AWE) Phase II is well underway and the construction of new facilities in Wan Chai North have been discussed for the past decade. The Hong Kong government expects to raise the city’s total convention and exhibition capacity by 40% to 220,000 m2.

Messe Frankfurt partners in India for home expo

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India, 18th October: International exhibition organiser, Messe Frankfurt’s India subsidiary, Messe Frankfurt Trade Fairs India, will co-organise Smart Home Expo, a leading trade fair in the home automation category in India, with World Media & Expo LLP.

Smart Home Expo showcases world-class home automation products and solutions backed by latest technologies for homes, offices, building systems, lighting solutions, audio-video systems, consumer electronics and security systems.

Quick takes

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Watch your tweets (or is it “X’s”?)

Web Summit’s Founder and CEO Paddy Cosgrave has resigned after he tweeted his view of the Israel-Hamas war. Tech giants pulled their sponsorship and support. Paddy apologised, but within days he was forced to resign. It remains to be seen how much permanent damage will be done to the event.

Report: Events in Asia are back, worries about costs

According to BCD M&E’s What’s Trending 2024 report, tradeshows, large conferences and meetings, and incentive travel have bounced back strongly, but inflation and rising costs are putting strain on budgets causing some to reduce the size or participation.

ITB Asia sets record in Singapore

ITB Asia 2023 reported a record-breaking 35% increase in new exhibitors. 1,838 international exhibitors participated in the travel and business events show – with Messe Berlin stating that there was 38% jump in MICE suppliers and a 200% growth in travel tech firms.

3,200 exhibitors at HKTDC’s electronics shows

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Hong Kong, 13th October: Earlier this week, the Hong Kong Trade Development Council (HKTDC) concluded its physical Hong Kong Electronics Fair (Autumn Edition), and electronicAsia, which are co-organised with MMI Asia. The two concurrent exhibitions attracted more than 60,000 buyers from 146 countries and regions.

The two exhibitions ran from 13th to 16th October 2023 at the Hong Kong Convention and Exhibition Centre (HKCEC). The theme of this year’s Electronics Fair was “New Tech – New Trend – New Lifestyle”. More than 3,200 exhibitors participated in the exhibition, including overseas exhibitors from 22 countries and regions. In 2019, the two concurrently held exhibitions featured 4,300 exhibitors and attracted over 67,000 buyers.

Macau and Hengqin launch joint destination brand

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Macau, 11th October: Macau and Hengqin, located next to each other, have jointly launched a new brand, MICE² Macao x Hengqin with the aim of attracting more international business events to the two destinations.

The new brand promotes Macau and Hengqin as a convenient way to create multi-city corporate event itineraries that capitalise on the exhibition advantages and tourism resources available in the two locations.

BESydney releases new strategic agenda

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Sydney, 17th October: Business Events Sydney (BESydney) unveiled its new Change Starts campaign. It is aimed to share the “depth of possibilities for global change when hosting business events in Sydney.”

The campaign highlights industries in Sydney which have the power to influence global changes for good – focusing on health & life science, technology & innovation, finance & professional services.

Direct selling firms choosing Singapore for events

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Singapore, 16th October: Singapore has recorded an increase in direct-selling companies opting to hold their large-scale corporate events and incentive trips in the Lion City.

Criteria for companies choosing Singapore included well-connected geographical location, world-class infrastructure and modern meeting amenities, reputation for safety and cleanliness, and leisure offerings. Interestingly, it seems that rising costs in Singapore – especially accommodation, F&B and flights have not deterred these incentive groups.

These mid- to large-scale events generate significant economic benefits for the local tourism industry, especially in the retail, attractions, hotels, and dining sectors. In addition, local DMCs and event organisers were also tasked with executing and coordinating the events.

Quick takes

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RELX exhibitions ahead of 2019

Good news from RELX in its trading update for the first half. Exhibitions, which currently account for 12% of revenues, are up. Event revenue across the portfolio are ahead of 2019 levels. And in China, which represents about 10% of event revenues, is also generating revenues above 2019 levels.

Cosgrave damages his event with one Tweet

This is not an Asian story, but worth reading. One tweet from Web Summit founder sharing his take on the Israeli-Hamas war has caused sponsors and speakers to pull out of the next edition of the event. Cosgrave subsequently published a 600-word apology and explanation of his views.

Messe Frankfurt takes cybersecurity event to Abu Dhabi

Messe Frankfurt partners with HITB Limited to launch a new edition of its cybersecurity event. The first edition will be held in May 2024 in the Etihad Arena. The difficult to type event is named HITB+in{:cyber}.

Jublia partners with MICEcarbon

Singapore-based Jublia has joined forces with MICECarbon to help the business events industry to reduce the effects of fossil-fuel emissions. The two companies aim to raise awareness of genuine carbon-offset projects that they can support via a platform that offers ease and transparency.

UFI prepares for 90th Global Congress in Las Vegas

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Paris, 10th October: It is less than three weeks until the 90th UFI Global Congress. Registration and full programme details are available on the UFI website. The programme has been finalised and final preparations are underway for this event which will run from 1st to 4th November.

It is largest annual gathering of global exhibition industry professionals. This year it will be hosted by the Las Vegas Convention and Visitors Authority (LVCVA) and will take place at the ARIA Resort & Casino. The congress will feature more than 50 speakers. Hundreds of exhibition industry professionals will attend from more than 50 countries. This year, the UFI congress returns to North America for the first time since 1972 when it was held in Toronto.

Mark Schloesser joins GainingEdge

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Beijing, 10th October: GainingEdge continues to add to its team. Mark Schloesser joined GainingEdge’s venue consulting team on 1st October 2023. He has 25 years of experience focused on real estate and exhibition venues – including over ten years with Deutsche Messe Venue Operations.

Schloesser’s first project will be as the lead operations consultant during the development of the new China National Convention Center – Phase 2 in Beijing (CNCC2), which is scheduled to open in the fourth quarter of 2024. CNCC2 served as the Main Media Center for the Beijing 2022 Winter Olympics and Paralympics. It will be converted into an international convention and exhibition centre.

TCEB helps Thailand to win 23 conferences

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Bangkok, 5th October: Over the past year (TCEB’s financial year runs from October to September), Thailand has won 23 bids to host international conferences which will be held up to 2028. Of the 23 winning bids, 14 of them are medical conferences. Other sectors covered include finance, healthcare and sports, education, digital marketing, and business management.

Thailand Convention and Exhibition Bureau (TCEB) was responsible for planning and presenting the bids. TCEB also secured the backing of the relevant government ministries through the TCEB’s One Ministry, One Convention (OMOC) programme. Under the programme, TCEB is allowed to utilise resources and support of a government ministry, and the relevant ministry will subsequently be designated host of the event.