Quick takes

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Singapore launches MICE Sustainability Certification

The recently-launched Singapore MICE Sustainability Certification, aimed at encouraging the MICE industry to adopt sustainable practices when organizing events, has been developed by SACEOS (Singapore Association of Convention & Exhibition Organisers & Suppliers), backed by the support of the Singapore Tourism Board.

Messe Berlin expects to maintain positive performance in 2024

Building on strong results for 2023 with preliminary expected turnover of around €370 million for the fiscal year, Messe Berlin held 110 events in 2023 which were attended by 27,800 exhibitors and attracted more than 1.4 million participants. International business made a positive contribution to the full-year results, especially in Asia – leading to high expectations for the region in 2024.

Pico Far East’s profit up 40% in FY2023

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Hong Kong, 23rd January: Hong Kong-listed Pico Far East Holdings reported its annual results for the year ended 31st October 2023. The company posted revenues of US$681 million, up 17% year-on-year. Pico’s net profit jumped 40% during the year, reaching US$29 million. Diluted earnings per share for the year were HK$0.1839 (US$0.024).

More than 82% of Pico’s revenues (US$564 million) were generated from its exhibition, event & brand activation business, representing year-on-year growth of 20%. Other revenue streams were generated from museum & themed environments (US$51 million), visual branding activation (US$49 million), and meeting architecture activation (US$17 million).

Messe Düsseldorf posts a strong performance in 2023

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Düsseldorf, 24th January: International exhibition organiser, Messe Düsseldorf, released its preliminary financial results for the year 2023. Messe Düsseldorf Group sales were €410 million (US$453 million), up 32% year-on-year. While Messe Düsseldorf GmbH’s turnover grew 32%, amounting to €388 million (US$428 million).

During the year, Messe Düsseldorf’s own venues hosted 27 events, featuring some 27,000 exhibiting companies. About 1.1 million attendees visited these events.

UNWTO: international tourism fully recovers in 2024

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Asia, 22nd January: According to the latest UNWTO World Tourism Barometer, international tourism will fully recover by the end of 2024.

By the end of 2023, international tourism was at 88% of pre-pandemic levels, representing 1.3 billion international arrivals.

In terms of geography, the Middle East was 22% above the 2019 level, while Europe was at 94% of 2019 levels. Africa and the America posted 96% and 90% of their 2019 levels, respectively. In Asia and the Pacific, South Asia recovered to 87% of 2019 levels, and North-east Asia reached about 55% of 2019 levels.

Messe Düsseldorf and Deutsche Messe form joint venture in Turkey

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Ankara, 24th January: Two leading trade fair companies in Germany, Messe Düsseldorf and Deutsche Messe AG, will jointly expand their market to Turkey through a 50%/50% joint venture named “Hannover Messe Ankiros Fuarcılık A.S.”

Under the joint venture, the two companies will expand ANKIROS/TURKCAST and ALUEXPO. ANKIROS/TURKCAST is one of the world’s most important trade fairs for the metallurgy and foundry industries, and ALUEXPO is the leading aluminium trade fair for the Eurasian region.

Quick takes

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Tesla vehicles barred from entering government venues in China

Ongoing tensions and concerns about data security between Beijing and Washington have led to Tesla cars being restricted from entering premises operated by government affiliates, local authority agencies, highway operators and even cultural and exhibition centres in China. Previously, such restrictions were generally limited to military bases.

Perth unveils plans to redevelop waterfront precinct

The Western Australian Government has entered negotiations to redevelop the Perth Convention and Exhibition Centre (PCEC), unveiling new plans to refresh the waterfront precinct. The proposal would create an iconic precinct on the Swan River, with a world-class convention space designed to attract major business events – as well as create a new tourism and hospitality hub for Perth.

JEGI Clarity reports increase in Corporate vs Private Equity transactions

M&A advisory firm JEGI Clarity released its Transaction Update for 2023, noting over 20 M&A transactions completed during the previous calendar year. Of these, 60% were founder sales, 25% were corporate divestitures and 15% were private equity exits. By sector, Marketing Services and Technology accounted for 25% of transactions, followed by Digital Media and Content (20%), Software (20%), Technology and Consulting (20%), B2B Information and Events (10%) and Insights, Data and Analytics (5%).

Digital Agencies’ roles changing to adapt to generative AI

Generative AI is blurring the lines between different types of marketing, leading Forrester Research to predict a sea-change in pure-play digital agencies as they adapt to the reality of digital sameness and commoditisation. As the landscape continues to evolve, agency services most at risk are routine, repetitive tasks such as basic content creation, data analysis and campaign optimisation.

China eases restrictions for foreign visitors

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China, 11th January: Last week, China’s National Immigration Administration (NIA) implemented five new measures aiming to simplify the process for foreign nationals planning to visit China. Under the new measures, business activities, education, and tours in China will become more accessible for foreign nationals.

The five new measures are:

1.     Relaxing conditions for foreign nationals applying for port visas;

2.     Allow foreign nationals eligible for visa-free transit at nine international airports in China;

3.     Allowing foreign nationals already in China to apply for visa extension, renewal, and reissuance;

4.     Allowing foreign nationals already in China to apply for a multiple-stay visas;

5.     Simplifying visa applications for foreign nationals in China.

Management changes at Koelnmesse in China and Hong Kong

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Cologne/China, 11th January: After six successful years leading Koelnmesse’s business in Hong Kong and China, Managing Director, Keith Tsui has decided to move on. Prior to his role at Koelnmesse, Keith held leadership roles at ITE Group and UBM Canon (now Informa Markets).

Keith’s role will be divided between two managers. Michiel Kruse will be assuming responsibility for Koelnmesse’s business in Mainland China, while Mathias Küpper, current Vice President Asia-Pacific, will assume management responsibility for the subsidiary in Hong Kong.

ILEA chapter looks to Africa

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Shenzhen, 18th January: Leaders of the Hong Kong and China chapter of International Live Events Association (ILEA) gathered in Shenzhen this week. An interesting key take-away is the acknowledgement that Africa is becoming a growth market.

Cecilia Lavin, vice-president of ILEA’s Europe Middle East and Asia region, said in a recorded address to the Asia chapter meeting at Shenzhen World, that ILEA was considering merging the chapters in Asia and Africa.

Quick takes

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Delegates registered for UFI Asia Conference

The list of delegates already registered for the UFI Asia-Pacific Conference in Macau is now online. UFI is expecting approximately 300 delegates from across Asia to attend the two-day event on 7th & 8th March at The Parisian in Macau. Register here.

Visitors to Hong Kong reach 34m in 2023

Over 34 million visitors came to Hong Kong last year. That is still well down from the record high of 65 million in 2018. Of course, Mainland China remains the most important source market for Hong Kong. “The number of MICE travellers recovered to about 70% of pre-pandemic.”

Trends for marketers in Asia

Marketing-Interactive also has an interesting survey of marketers in Asia with key trends such as: A desire for the spectacle (which event organisers can relate to); keeping track of upcoming tech regulations; exploring use of Generative AI; balancing data collection and privacy and “getting out of your comfort zone.”

Informa’s revenues up 30% in 2023

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London, 10th January: This week, London-listed Informa PLC released its full year trading update for 2023. Revenue is expected to be over £3.17 billion (US$4.03 billion), representing an underlying growth of 30%. Adjusted operating profit will be about £845 million (US$1.08 billion).

Informa Markets, Informa Connect and Informa Tech all performed well in 2023, with 40% aggregate underlying revenue growth and management is targeting high single digit growth in 2024. Specifically, in 2024, the company expects revenue of between £3.43 billion (US$4.36 billion) and £3.48 billion (US$4.42 billion). Adjusted operating profit is expected to be between £945 million (US$1.20 billion) and £965 million (US$1.23 billion).

SACEOS appoints new Executive Director

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Singapore, 11th January: SACEOS – Singapore Association of Convention & Exhibition Organisers & Suppliers, has appointed Alaxys Liu as its new Executive Director with effect from 2nd January 2024.

Alaxys is a veteran association professional with experience at both local and international associations. She also has experience working with government agencies, trade bodies, and a wide range of businesses.

Strong international buyers at HKTDC fairs

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Hong Kong, 4th January: The Hong Kong Trade Development Council (HKTDC) concluded its first three fairs in 2024, attracting some 83,000 buyers from 135 countries and regions. According to the HKTDC, buyer numbers from Mainland China, India and ASEAN countries all recorded significant growth.

The three fairs were: the 50th HKTDC Hong Kong Toys & Games Fair, 15th HKTDC Hong Kong Baby Products Fair and 22nd Hong Kong International Stationery & School Supplies Fair, running from 8th to 11th January 2024, at the Hong Kong Convention and Exhibition Centre (HKCEC). Over 2,600 exhibitors from 35 countries and regions were showcased at the fairs. The Toys & Games Fair and Baby Products Fair was organised by the HKTDC, while the Stationery & School Supplies Fair was jointly organised by Messe Frankfurt (HK) Ltd and the HKTDC.

MyCEB releases annual report for 2022

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Malaysia, 9th January: Recently, the Malaysia Convention & Exhibition Bureau (MyCEB) released its annual report for 2022.

In 2022, MyCEB reported a total 155 business events were held in Malaysia, featuring almost 430,000 delegates, of which 64,000 were international participants. The events generated an estimated economic impact of RM 1.17 billion (US$266 million).

Quick takes

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IATA reports air travel is close to fully recovered

Air travel demand has topped 99 per cent of 2019 levels, according to the International Air Transport Association (IATA). Asia reported the strongest year-over-year results. Growth was especially strong in China.

Huge incentive groups from China are back too

New Zealand welcomed an incentive group of 10,000 from Amway China on a five-day itinerary. The group generated 20,000 hotel nights and pumped US$25 million into the economy.

Singapore experimenting with carbon-neutral events

The inaugural Commodity Trading Week Asia Pacific was used as means to push for carbon-neutral events. The organisers collaborated with MICEcarbon, a Singapore-based carbon-offset platform for the MICE industry.

IEG Asia acquires F&B events from Montgomery Asia

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Singapore, 26th December: International exhibition organiser, the Italian Exhibition Group Asia (IEG Asia) has announced the acquisition of several food and beverage (F&B) events from Montgomery Asia. Financial details were not released.

The acquired F&B events are the Speciality Food & Drinks Asia, Speciality Coffee & Tea Asia and Food2Go. The three events will be held from 26th to 28th June 2024 at the Sands Expo & Convention Centre in Singapore, and will be co-located with the inaugural edition of SIGEP Asia – the International Trade Show of Artisan Gelato, Pastry, Bakery, Coffee & Tea, and also with the 5th Restaurant Asia – the International Restaurant Kitchen and Culinary Equipment & Supplies Exhibition.