Cosmoprof Asia 2023 returns to Hong Kong

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Hong Kong, 24th November: Cosmoprof Asia and Cosmopack Asia returned to Hong Kong in 2023, held at the city’s two main exhibition venues.

The two shows were organised by Cosmoprof Asia Ltd, a joint-venture company between BolognaFiere Group and Informa Markets Asia Ltd. This year, the shows featured more than 2,400 exhibitors from 44 countries and regions, with 90% from outside Hong Kong, occupying an exhibition are of 118,900 m2. A total of 65,582 visitors from 119 countries and regions attended the show, which is a 64% increase over the previous edition held in Hong Kong in 2019, and close to the levels achieved in 2018. Significant increases were recorded from Asian markets, and European attendance remained steady.

Quick takes

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China and Singapore propose mutual 30-day visa-free travel

A 30-day mutual visa exemption agreement has been proposed between China and Singapore, aimed for implementation early next year. Chinese citizens currently require a visa to enter Singapore, while Singaporeans can enter China without a visa for up to 15 days for business, sightseeing, visiting friends and family, and in transit.

Hong Kong and Macau confident in Christmas travellers

Despite a surge of respiratory illnesses impacting China, operators in Macau and Hong Kong have played down the impact on inbound travel during the peak year-end Christmas season. Respective health organisations in Hong Kong and Macau advised the public to remain vigilant during the traditional peak flu season.

BSG’s report: Most Asian exhibition markets to surpass 2019 levels in 2023

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Paris/Hong Kong, 23rd November: UFI, the Global Association of the Exhibition Industry, has released the 18th edition of its annual report on the Trade Fair Industry in Asia. This edition marks a restart of this report after the global pandemic. The report provides a detailed overview of the performance in 2022 of 17 exhibition markets in Asia. The report also provides insight and commentary into the scale of the recovery in 2023 and looks ahead to 2024.

Overall, BSG estimates that Asia recorded a huge 87% drop in net space sold in 2022 compared to 2019 as a result of the global pandemic. Net space sold fell from 24.5 million m2 in 2019 to just 3.2 million m2 in 2022. The drop in 2022 was in large part due to the fact that China did not allow exhibitions throughout the year due to its COVID-zero restrictions.

For more information on this report, please contact UFI in Asia at: asia@ufi.org

Macau held 20 exhibitions in Q3

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Macau, 27th November: Macau’s Statistics and Census Service (DSEC) has reported its MICE statistics for the quarter ended 30th September 2023. Macau held a total of 245 events in the quarter which is 171 events more than the same quarter in 2022. The total number of participants grew by 60% year-on-year in the quarter, with a total of 545,400 participants and attendees. These statistics include every type of event from large-scale exhibitions down to small corporate meetings.

Of the total 245 events, 221 were meetings and conferences, 160 events more than the same quarter last year. Total number of participants at meetings and conferences was 47,600 people. A total of 20 exhibitions were held in the quarter, which was eight exhibitions more than the previous year. The number of attendees was up 47%, amounting to more than 490,000 attendees. The total gross area occupied by these exhibitions was 103,400 m2.

MyCEB appoints new CEO

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Putrajaya, 20th November: The Malaysia Convention & Exhibition Bureau (MyCEB) has appointed Mr. Azman Haji Tambi Chik as the new Chief Executive Officer, effective 20th November 2023.

 

Azman will be responsible for leading MyCEB’s efforts to support Malaysia’s business events industry drawing on his experience and knowledge in corporate management in a variety of industries. MyCEB expects the leadership and vision of Mr. Azman to “elevate the business events sector’s prominence in the Malaysian economy.”

MCB records robust growth across Victoria’s business events sector

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Melbourne, 26th November: Earlier this week, the Melbourne Convention Bureau (MCB) released its results for the financial year 2022-2023, recording a 74% year-on-year increase in economic contribution from secured business events.

The venue estimates that economic contribution was A$354 million (US$235 million). With a total of 197 future events secured, over 100,500 visitors will travel to the state, occupying over 196,000 room nights. Corporate meetings and incentives events contributed A$77 million (US$51 million) in economic impact with 58 groups confirmed.

Quick takes

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China to offer visa-free entry for five European countries

Beijing has announced that it will allow visa-free entry for citizens of France, Germany, Italy, the Netherlands, and Spain. Citizens will be allowed to enter China for up to 15 days without a visa. This should help boost international participation at some B2B exhibitions in China.

Freeman appoints Priest-Heck’s replacement

Freeman, one of the world’s largest event service providers, has announced that Janet Dell, currently serving as the company’s president and COO, will become CEO as of 1st July 2024. Dell will succeed Bob Priest-Heck who will retire after serving as Freeman’s CEO for 15 years.

UFI launches advocacy portal

One of the key lessons learned during the global pandemic was that many governments do not fully understand the economic value of exhibitions and as a result of that, communication between our industry and government is essential. With that in mind, UFI has launched a dedicated advocacy portal on the UFI website.

Hong Kong tries to make up for lost time

Hong Kong was one of the last markets in Asia to reopen, but it is determined to make up for lost time. TTG interview’s HKTB’s Kenneth Wong to find out the details.

Quick takes

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Alibaba stays quiet about 11.11 stats

Alibaba’s management used to spend much of November pushing coverage of its always incredible sales and revenue stats from is 11.11 one-day sales festival, but both JD.com and Alibaba have started a new holiday tradition by staying very quiet about revenues from the event. The Register has a good summary of what happened on 11.11.

UFI’s Global Congress in Vegas a strong success

In case you missed it, UFI’s first-ever Global Congress held in the U.S. attracted 500 delegates from over 50 countries. At the congress, UFI announced that it would establish a new North American chapter. UFI now operates five chapters: Asia-Pacific, Central & South America, Europe, Middle East & Africa, and North America.

IEG posts post of €9.6m in Q3

Led by former UFI President, Corrado Peraboni, IEG Group reported revenues of €152m and a net profit of €9.6m. IEG is increasingly focused on Asia. Recent shows included CARA – Cafè and Restaurant Asia (an F&B event), and SIJE – the Singapore Jewelry Expo.

RX’s in-cosmetics Asia attracts 40% international buyers

While still rather small, RX’s in-cosmetics Asia managed to attract nearly 12,000 buyers of which 40% were international. RX reported that there were over 580 exhibitors at the event which was held at BITEC in Bangkok.

BOL’s revenues up 15% in Q3

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Bangkok, 9th November: Business Online (BOL), a leading online information service provider in Thailand, has reported its financial results for the quarter ended 30th September 2023. Revenues in the quarter were US$6.3 million, representing a year-on-year increase of 15%.

The company’s net profit grew 10% from the same quarter of 2022, reaching US$2.7 million. The company attributed the growth in revenues the increased revenues from existing customers and growth from new customers.

AWE and KINTEX sign partnership

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Hong Kong & Seoul, 21st November: Last week, Hong Kong’s AsiaWorld-Expo (AWE) and Korea International Exhibition Centre (KINTEX) signed an agreement to cooperate. The partnership aims to deepen collaboration between the two venues.

It is also designed to “promote the development of the MICE industry in the Asia-Pacific region, with encompassing various key areas of collaboration.” The venues will leverage the experience and local expertise of both teams. AWE and KINTEX agree to promote expo and cultural events with “joint effort and cross-city power of alliance.” The venues also hope to generate incremental economic impact for both Hong Kong and Seoul.

Baidu posts US$900m profit in Q3

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Beijing, 21st November: Earlier this week, Baidu, the leading Chinese language Internet search provider, released its financial results for the quarter ended 30th September 2023. Revenues in the quarter were US$4.7 billion, an increase of 6% year-on-year.

The company posted a net profit of US$916 million in the quarter, compared with a loss of US$21 million in the same quarter in 2022.

Alibaba posts huge net profit of US$3.7b

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Hangzhou, 16th November: Last week, the Alibaba Group, one of China’s leading e-commerce companies, released its financial results for the quarter ended 30th September 2023. The company recorded total revenues of US$31 billion, up 9% year-on-year. Most impressively, Alibaba posted a net profit of US$3.7 billion, compared with a net loss of US$2.9 billion in the same quarter in 2022.

Revenues from Alibaba’s B2B business in China under its Taobao and Tmall Group, primarily generated through 1688.com, were US$698 million, representing an increase of 18% year-on-year. Revenues from its international B2B business under its Alibaba International Digital Commerce Group, primarily operating through Alibaba.com, increased by 9%, amounting to US$758 million.

Legends acquires ASM Global

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New York & Los Angeles, 7th November: There has been a major acquisition in the venue management sector. Legends will acquire ASM Global to “create a premium live events company dedicated to providing outstanding experiences for fans around the world.”

Financial terms of the transaction were not disclosed, but according to industry sources the deal is worth more than US$2.4 billion. ASM Global sold for roughly 16 times its annual revenue EBITDA of US$150 million. According to Moody’s, ASM Global recorded revenues of US$594 million the preceding 12-months and had a 90% retention rate on its venue management deals.

Legends’ largest investor is a private equity firm, Sixth Street. ASM Global’s largest investor is Onex, a Canadian private equity firm which also owns Emerald Expositions. AEG was a small shareholder in ASM Global. AEG will also sell its stake.

Informa’s revenues rise 32% in first 10 months

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London, 14th November: Earlier this week, Informa PLC, the London-listed B2B media group, released its latest trading update highlighted by 32% growth of underlying revenue in the first 10 months of the year.

Informa’s events business performed particularly well. Informa Markets’ revenues rose 65%. Informa Connect was up 16% and Informa Tech 5.6%. Management also increased its 2023 full year forecast to revenues of £3.15 billion (up from £3.05 billion), and adjusted operating profit of £840 million (up from £790 million).

IAEE announces new president and CEO

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U.S., 14th November: After month than a six-month search, the U.S.-based, International Association of Exhibitions and Events (IAEE) has appointed Marsha Flanagan as its new president and CEO, effective on 1st December 2023. David duBois left the role of President and CEO after 11 years. He is now CEO of the Exhibitor Group, a publisher.

Flanagan has been with IAEE for 11 years. Before becoming CEO, she was Senior Vice President of Events & Learning Experiences at IAEE in which she was responsible for managing the majority of IAEE’s revenues. Prior to joining IAEE, Flanagan served in leadership roles at Promotional Products Association International and MPI.

Quick takes

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Alibaba completes acquisition of Visable

Alibaba has concluded its acquisition of Visable, a European business-to-business digital trade platform. AIDC, a wholesale marketplace platform, will operate in Europe with two brands, Alibaba and Visable which was formed in 2019 following merger of WLW and Europages, two European B2B platforms.

Bangkok hosts ICCA Congress

This week, the International Congress and Convention Association (ICCA) hosted its 62nd annual ICCA Congress in Bangkok. Most of the events were held at Queen Sirikit National Convention Center, but other venues such as BITEC also hosted activities. The congress is expected to bring more than 1,000 delegates from 80 countries to Thailand.

PATA and ICCA sign agreement

On the side lines of the ICCA Congress in Bangkok, PATA signed an MoU with ICCA agreeing to becoming dedicated partners in establishing meaningful connections between the two associations. They plan to “create joint programme content designed to nurture the business travel sector in Asia.”

Hong Kong is back hosting major events

Mix Meetings has a rundown of the latest events hosted in Hong Kong including the Gay Games (2,300 international participants), the Jumpstarter Festival, Hong Kong Fintech Week and the Global Financial Leaders’ Investment Summit.