210 “mega” events to be held in Hong Kong

/

Hong Kong, 22nd May: Ever since Taylor Swift played six shows in Singapore, Hong Kong’s government has felt the pressure to up its mega event game. This week, Chief Executive of the HKSAR, John Lee, promised a “mega event” will be held once every two days to “boost Hong Kong’s visitor economy and redefine its international image.” The definition of mega event may be stretched in order to host one mega event every other day.

According to the government of Hong Kong, a total of 210 “mega” events will be held during 2024, expecting to attract about 1.7 million international visitors who will generate US$550 million in economic impact.

Quick takes

/

Constellar (and Singapore) position for “festivalisation” market

At IMEX last week, Constellar was trying to position Singapore Expo as a centre ideal for festivalisation events. SingEx has a lot of competition with the more centrally located Marina Bay Sands and Suntec. In addition, MBS has announced expansion plans. SingEx has, however, hosted the Fintech Festival which attracts 60,000 plus.

AI licensing deals a hot topic with publishers

Meredith has signed a deal with AI tech company OpenAI. The Wall Street Journal’s parent company News Corp signed an AI content deal with Google. Soon there won’t be any human journalists or digital markets left standing.

India security market predicted to grow rapidly

BSG is often asked: “What are the hot topics in Asia?” “Which industries are high grow?” There is rarely an answer that holds true across the region – with few exceptions. Somewhat depressingly, security and “military adjacent” topics such as drones, surveillance tech and homeland security segments are one of those exceptions.

Singapore ranks 2nd worldwide in ICCA’s annual report

/

Amsterdam, 13th May: ICCA, the International Congress and Convention Association, has recently released its ICCA Ranking Report for 2023. According to the report, Europe hosted a total of 5,735 meetings, while Asia hosted 2,041 and North America hosted 1,873. Africa and the Middle East surpassed their 2019 levels, while other regions posted declines. Ranked by country, the U.S. led the table with 690 recognised meetings, followed by Italy (553) and Spain (505).

In the Asia-Pacific region, Japan hosted 363 meetings and ranked seventh worldwide, Korea hosted 252 meetings (11th worldwide), Australia hosted 219 meetings (13th worldwide), China had 170 meetings (18th worldwide), Singapore had 152 meetings (21st worldwide), Thailand hosted 143 meetings (26th worldwide) and India hosted 123 meetings (30th worldwide).

Ranked by city in the region, Singapore topped the list with 152 meetings and ranked the second worldwide, followed by Seoul with 103 meetings. Other highly ranked cities include: Tokyo (91 meetings), Bangkok (88 meetings) and Taipei (68 meetings).

Alibaba’s shares jump on 13% revenue growth

/

Hangzhou, 14th May: Earlier this week, China’s largest e-commerce company, the Alibaba Group, announced its financial results for the year ended 31st March 2024. Revenues in the financial year were US$130 billion, representing year-on-year growth of 13%. Net income in the year grew 9%, reaching US$9.9 billion. Diluted earnings per share for the year were RMB 31.24 (US$4.33).

In terms of its B2B business, revenues generated from Alibaba’s B2B business in China under the Taobao and Tmall Group, mainly through its 1688.com platform, were US$2.8 billion, resulting in a year-on-year increase of 15%. The international B2B business under the Alibaba International Digital Commerce Group, primarily on Alibaba.com, posted a 7% increase in revenues, reaching US$2.9 billion. The B2B businesses only accounted for just 4.4% of Alibaba’s total revenues.

Baidu’s revenues flat in Q1 2024

/

Beijing, 16th May: Yesterday, Baidu, the leading Chinese language Internet search company, reported revenues of US$4.4 billion for the quarter ended 31st March 2024, which is a slight increase of 1% year-on-year. The company recorded a decrease of 6% in its net profits in the quarter, down to US$755 million. Diluted earnings per share in the quarter were RMB 1.86 (US$0.26).

More than 58% of Baidu’s revenues were generated from its online marketing services, amounting to US$2.6 billion. That figure grew 2.9% year-on-year. The remaining revenues, categorised as “other” dropped by 1.1%, amounting to US$1.8 billion. According to the company, its AI business was still the key growth driver of the its revenues.

BOL posts decrease in revenues and profits in Q1

/

Bangkok, 14th May: Business Online (BOL), a leading online business information service provider in Thailand, also reported its financial results for the quarter ended 31st March 2024. The company recorded revenues of US$5.0 million for the quarter, representing a decrease of 3.9% year-on-year.

BOL’s net profits for the three-month period dropped 4.2% to US$1.8 million. Diluted earnings per share in the first quarter of 2024 were Baht 0.08 (US$0.0022).

Quick takes

/

Penang adding capacity, but space still tight

It has been a busy week with quite a few noteworthy announcements coming out of IMEX in Frankfurt. Penang has added capacity with its large-scale venue, the Penang Waterfront Convention Centre (PWCC) which will open next spring, but its CVB CEO said at IMEX space for business events could still run out in the next two years.

Singapore commits to carbon neutral events

At IMEX Frankfurt, the Singapore Tourism Board (STB) launched a toolkit to achieve more sustainable business events. The STB is aiming for carbon neutral participation at international tradeshows. This is the first time STB has committed to holding itself accountable to carbon neutral standards.

RX appoints new GM of RX India

International exhibition organiser, RX Global, has appointed Umang Gupta as the Country General Manager for RX India. He was previously the Marketing Director for Elsevier in India & Southeast Asia. In the new role, he will focus on expanding RX’s events portfolio in India.

Hong Kong to host Routes World 2025

AsiaWorld-Expo will host Informa Markets’ Routes World 2025. The event will attract 3,000 delegates from airlines and airports. It features industry executives, heads of air-network planning and other participants from more than 260 of the world’s leading airlines. The 30th edition of Routes World is scheduled to be held from 24th to 26th September 2025 when Hong Kong’s third runway will be operational.

RX acquires energy conferences

/

London, 8th May: RX Global, a leading international exhibition organiser, announced this week that it has acquired Sustainable Energy Conferences Limited (SEC), the owner and organiser of the World Hydrogen Summit, Hydrogen Americas, Hydrogen Asia-Pacific and the Sustainable Energy Council brand. The financial details of the acquisition were not disclosed. After the acquisition, the SEC team will join RX.

SEC is focused on the green energy, low carbon sector covering everything from production to transmission to distribution and storage of hydrogen.

Informa’s positive market update

/

London, 8th May: Earlier this week, London listed Informa PLC released its latest trading update, key appointments as well as progress on its TechTarget integration.

According to the company, all of its business segments are performing to the upper end market guidance on revenues, adjusted operating profit and free cash flow. During the first four months of the year, the revenue growth across its B2B Markets (Informa Markets, Informa Connect and Informa Tech) and Academic Markets are performing well.

Netsun’s revenues up, but profits down in FY2023

/

Hangzhou, 27th April: Shenzhen-listed Zhejiang Netsun announced its results for the year ended 31st December 2023, with revenues of US$61 million. This represents modest year-on-year growth of 2.1%. Netsun’s exhibition service revenues were the key growth driver.

Net profits, however, dropped 16% year-on-year, down to US$2.7 million. The decrease in profit was mainly due to rising costs. Diluted earnings per share in 2023 were RMB 0.08 (US$0.011).

Arinex buys business events agency

/

Australia, 9th May: Australasian event management company, Arinex, expanded its New Zealand footprint by acquiring Auaha, a New Zealand-based business events agency. Auaha is a New Zealand business events agency and PCO. The acquisition will enable Arinex to expand its market presence and to the New Zealand MICE industry.

Nicole Walker, CEO of Arinex, commented, “This acquisition aligns with our dedication to driving innovation and delivering exceptional value to our clients. By integrating the expertise, Māori cultural competency and insights of Auaha, Arinex aims to deliver an enhanced value proposition and unparalleled event management solutions to its clients across Australasia.”

Quick takes

/

DLG’s revenues jump 229% in Q1

Shanghai-listed DLG Exhibitions (formerly Shanghai Lansheng) released its results for the quarter ended 31st March 2024, with revenues of US$24 million. This represents a year-on-year increase of 229%. The company posted a loss of US$752,000.

Canton Fair’s visitor profile is changing

A record 246,000 international visitors attended the Canton Fair. That is up 25% compared to the 2023 autumn edition. Two thirds of the visitors were from countries that support China’s Belt and Road programme. Just 50,000 were from the U.S. and Europe.

Alibaba’s new CEO has a new plan

The Economist has an interesting take on Alibaba’s future. Former CEO’s Daniel Zhang’s plan to break-up the giant was aimed at pleasing regulators. Eddie Wu, new CEO, company co-founder and one Jack Ma’s closest lieutenants, is pulling it all back together to compete with PDD, JD.com, Shien and Temu.

Hong Kong says good-bye to a venue

Despite its name, the Kowloon Bay International Trade and Exhibition Centre (KITEC) was more of a small concert venue. After 28 years, KITEC will be redeveloped as an office building. The SCMP sums it up.

Nineteen Group expands into Singapore

/

Singapore, 30th April: Nineteen Group, a U.K.-based exhibition organiser, announced plans to expand its portfolio to Asia by launching the Safety & Security Event Series, and the Emergency Services Show in Singapore. The company will also open an office in Singapore to support its new events.

Safety & Security Asia will include The Security Event, The Fire Safety Event, The Health & Safety Event, and The Emergency Services Show – all of which will collectively target the safety and security industry across the region. The inaugural edition will run from 11th to 13th November 2025 at the Marina Bay Sands Expo and Convention Centre.

Made-in-China.com’s revenues up 11% in Q1

/

Nanjing, 26th April: Focus Technology, the operator of Made-in-China.com which is a B2B sourcing platform, has reported revenues of US$47 million in the quarter ended 31st March 2024. This is an 11% increase compared with the first quarter of 2023.

The company’s net profit jumped 58% in the quarter, reaching US$9.4 million in the quarter. Diluted earnings per share in the three-month period were RMB 0.2422 (US$0.0297). The company’s management did not provide any comment on its performance in the quarter.

GL events’ exhibition-related revenues down 11%

/

Lyon, 24th April: Last week, GL events released its financial results for the quarter ended 31st March 2024. Revenues at GL events Exhibitions business were €99.8 million (US$108 million), down 11% compared with the same figure in the first quarter of 2023. The company’s management attributed the decrease in its exhibitions’ revenue largely due to the unfavourable effect of biennial events.

Overall, GL events’ group revenues increased by 10% in the quarter, reaching €386 million (US$417 million). Other than the fall in exhibition-related revenues, the other two key business segments performed well. GL events Live generated €192 million (US$208 million), up 28% year-on-year. While GL events Venues posted revenues of €92.4 million (US$100 million), growth of 7.1%.

IEG’s revenues up 32% in 2023

/

Italy, 30th April: Shareholders of Italian Exhibition Group (IEG) approved the company’s financial statements as at 31st December 2023. The company generated revenues of €212 million (US$235 million) in the 2023 financial year, which is a year-on-year growth of 32%. The company also posted a profit of €14.2 million (US$15.6 million) in the year.

In 2023, IEG’s Asian subsidiary, IEG Asia, generated revenues of €1.99 million (US$2.2 million) and recorded a loss of €656,000 (US$725,000) in the year. IEG’s business in Asia is a new one. The Singapore office of IEG Asia open in 2022. It small, but growing portfolio in Asia covers food & beverage, jewellery, and green energy.

Quick takes

/

UFI and IAEE sign MoU

UFI, The Global Association of the Exhibition Industry, and The International Association of Exhibitions and Events (IAEE), have signed and MoU which “re-establishes a regular exchange between the associations benefitting their respective members, while also promoting the industry at large. Both partners agree on the value of collaborating on common initiatives, exchanging information and supporting industry developments.” The two associations already collaborate on initiatives such as Global Exhibitions Day (GED) and long-running events such as the China Expo Forum for International Cooperation (CEFCO).

Mark Temple-Smith joins CloserStill

Industry veteran, Mark Temple-Smith has announced that he will be joining CloserStill Media as Group Managing Director as well as a member of the Group Executive Board. Mark has previously held senior positions at Informa Markets, Tarsus, ITE Group and Canon Communications.

ASM Global extents contract to operate ICC Sydney

ASM Global, an event and venue management company, has signed a deal to manage and operate International Convention Centre Sydney (ICC Sydney) for an additional ten years. Since opening in December 2016, ICC Sydney has hosted more than 500 events, welcoming some 500,000 international visitors as well as almost six million domestic visitors.

60,000+ buyers at HKTDC gifts series of events

The Hong Kong Trade Development Council (HKTDC) has concluded its gifts, printing and packaging, and licensing events. The trade shows attracted over 60,000 buyers from 128 countries and regions. According to the HKTDC, buyers from outside Hong Kong were from Mainland China, Taiwan, U.S., Japan and Korea.