MCEC hosts 694 events during FY2022-23

Melbourne, 3rd November: Melbourne Convention and Exhibition Centre (MCEC) exceed expectation in the financial year 2022-23, which is the first full year of operation since pandemic. A total of 694 events were held, bringing more than 2.6 million visitors and generating A$805 million (US$517) in economic impact for Victoria.

According to MCEC, of the events held at the venue during the year, 21 international, 70 national and 124 local meetings, conferences and exhibitions were hosted. The venue recorded some 89,000 visitors coming at 76 events in May, which is the biggest month in its history.

DLG Exhibitions’ revenues up 356%

Shanghai, 28th October: DLG Exhibitions & Events (formerly known as Shanghai Lansheng), a Shanghai-listed exhibition organiser and conglomerate, has released its results for the nine months ended 30th September 2023. The company generated revenues of US$133 million, representing an impressive year-on-year growth of 356%.

The company posted a net profit of US$33 million in the first nine months of 2023, compared with a loss of US$812,000 in the same period of last year. Diluted earnings per share in the nine-month period were RMB 0.46 (US$0.063).

Netsun down in revenues and profits

Hangzhou, 31st October: Shenzhen-listed Zhejiang Netsun, a B2B e-commerce platform, recently reported its financial results for the nine months ended 30th September 2023. The company’s revenues were US$44 million, representing a year-on-year decrease of 13% from the same period of 2023.

Net profit during the nine-month period posted a decrease of 9.8% year-on-year, down to US$2.1 million. Diluted earnings per share in the first nine months of 2023 were RMB 0.06 (US$0.0083).

Constellar launches new process technology trade event

Singapore, 6th November: Constellar, a leading trade exhibition organiser in Singapore, will launch a new process technology trade event, Process Innovation Asia-Pacific – Power by ACHEMA, its partnership with DECHEMA Ausstellungs-GmbH (DECHEMA Exhibitions).

The new event will run from 19th to 21st November 2024, at Singapore Expo. It is expected to feature more than 200 exhibitors and attracting some 10,000 attendees from 20 countries and regions.

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)

TCEB unveils MICE plans

Bangkok, 24th October: The Thailand Convention and Exhibition Bureau (TCEB) has unveiled its plan to a create value-added MICE industry in Thailand.

A research paper titled “MICE Foresight” was commissioned to study the future of the MICE industry and envision future directions that can be used to formulate strategic planning. According to research, TCEB has won 442 bids for world events and has supported more than 6,300 local and international MICE events over the past 21 years. Research also uncovered that more than 600 MICE entrepreneurs worldwide have selected Thailand as a Top of Mind destination compared to other 14 countries in Asia.

Based on the research findings, TCEB is focusing on transforming Thailand into a High Value-Added Destination, developing new strategies, and solidifying cooperation with related stakeholders. In 2024, TCEB will focus on three areas:

1.     Mega Events and Festivals

2.     International Exhibitions

3.     Domestic MICE Market

Seoul announces new tourism campaign

Seoul, 1st November: The Seoul Metropolitan Government (SMG) announced 10 core tasks for Seoul tourism, launching its “3-3-7-7” tourism campaign with the goals of reaching 30 million tourists, million Korean won spent per person, 7-day stays and a 70% revisit rate.

According to the Seoul Tourism Organization (STO), of the 30 million visitors, about 20% will be business events visitors. Before the pandemic, 82% of tourists were from Asia-Pacific. However, in the first half of 2023, only 71% of tourists were from Asia-Pacific, with increasing tourist numbers from the U.S. and Europe.

Meorient’s revenues jumps 237%

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

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

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%.

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)

GL events exhibitions’ revenue up 83%

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

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

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

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

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.

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)

Less than two weeks until the UFI Global Congress in Las Vegas

Check out the full programme and registration details

3,200 exhibitors at HKTDC’s electronics shows

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

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.