UFI: 2024 as record year for the exhibition industry globally

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Paris, 8th August: UFI, the Global Association of the Exhibition Industry, has recently released its latest bi-annual Global Exhibition Barometer report, showing the exhibition industry will achieve record revenues globally in 2024.

According to the report, the 2023 revenue is expected to grow by 20% year-on-year, while the 2024 figure is expected to grow by 17%.

Alibaba Group’s revenue up, but profit down

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Hangzhou, 15th August: Last week, Alibaba Group, China’s largest e-commerce company, announced its results for the quarter ended 30th June 2024. The company recorded revenues of US$33 billion, an increase of 4% year-on-year. However, the company’s profits dropped 27% year-on-year, down to US$3.3 billion. Diluted earnings per share for the three-month period were RMB 1.24 (US$0.17).

In terms of its business segment, about 43% of Alibaba’s total revenues were generated from its Taobao & Tmall Group, amounting to US$16 billion. Revenues from Taobao & Tmall’s China commerce wholesale business, primarily generated through 1688.com, were US$819 million, an increase of 16% over last year. The second largest business segment, the Alibaba International Digital Commerce Group generated revenues of US$4.03 billion, or 11% of total revenues. Alibaba International Digital Commerce’s international commerce wholesale business, primarily traded on Alibaba.com, generated revenues of US$771 million, up 12% year-on-year.

BOL’s revenue and profit down in Q2

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Bangkok, 8th August: Earlier this month, Business Online (BOL), an online information service provider in Thailand, reported its financial results for the quarter ended 30th June 2024. Revenues during the quarter were US$5.4 million, a year-on-year decrease of 8.6%. The company’s profits dropped by 4.9%, amounting at US$2.2 million.

BOL also announced its results for the six months ended 30th June. Revenues in the first half of 2024 were US$10 million, down 6.4% year-on-year. Net profits in the six-month period decreased by 4.6%, down to US$3.98 million. Diluted earnings per share during the first half of the year were Baht 0.18 (US$0.0049).

Meorient’s figures drop

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Shanghai, 7th August: Shenzhen-listed exhibition organiser, Meorient, recently announced its financial results for the six months ended 30th June 2024. The group’s revenues in the first half of 2024 decreased by 26% year-on-year, down to US$36 million.

The company posted a net profit of US$5.6 million, a year-on-year decline of 47%. Diluted earnings per share in the six-month period were RMB 0.18 (US$0.025).

Quick takes

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KLCC appoints new Director of Sales and Marketing

Kuala Lumpur Convention Centre (KLCC) announced to promote Tiffany Chung as new Director of Sales and Marketing. In the new role, Tiffany will be responsible for developing and implementing sales strategies, managing new product development, driving business development and revenue growth, overseeing marketing campaigns as well as talent development and management.

New Italian food show to host in Melbourne

National Media will organise a new show, Pizza Pasta & Italian Food Show, at Melbourne Convention & Exhibition Centre (MCEC), running from 18th to 20th May 2025. The new show will target for pizzerias, Italian-themed restaurants, and foodservice operators.

Theme days at HKTDC Food Expo

The Hong Kong Trade Development Council (HKTDC) organised Food Expo, from 15th to 19th August 2024, the Hong Kong Convention and Exhibition Centre (HKCEC). Together with Beauty & Wellness Expo, and Home Delights Expo, Food Expo PRO, and Hong Kong International Tea Fair, over 1,840 exhibitors from 30 countries and regions will feature at the fairs. Four theme days will be added in the fairs for the first time, featuring food from different regions of Mainland China, fine wine collections, and Japanese and Korean Express, as well as activities and products on health and wellness.

The Cosmetic Conference at RX’s in-cosmetics Asia

in-cosmetics Asia, organised by RX Global, will add The Cosmetic Conference, featuring technical, science-based talks from experts. The event will be hosted at the Bangkok Trade & Exhibition Centre (BITEC) in Bangkok, running from 5th to 6th November 2024.

SpecTAPular acquires Talk2 Media & Events’ Good Food & Wine Show

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Australia, 30th July: SpecTAPular Enterprises has acquired Talk2 Media & Events’ Good Food & Wine Show. Financial details of the transaction were not disclosed.

Events organised by SpecTAPular Enterprises included: Great Australian Beer SpecTAPular (GABS), Hunter Valley Wine & Beer Festival, Finer Drop Premium Drinks Festival and Canberra Craft Beer & Cider Festival. Good Food & Wine Show is Australia’s longest running national food & wine event.

Messe Frankfurt 30 years in Asia

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Hong Kong, 30th July: International exhibition organiser, Messe Frankfurt, opened its business in Asia in 1994, and now Messe Frankfurt (HK) Ltd is the regional headquarters for Greater China, overseeing a network of seven offices with over 600 employees. In Asia, the company organises more than 60 events in 13 cities.

In Hong Kong, the company started a trade fair for the textile industry in 1987, and today it has 45 in the Greater China. In the Southeast Asia, there are eight events and two new trade fairs will open this year in the textiles and mobility sectors.

Ascential’s revenue up 15%in first half

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London, 29th July: After accepting Informa’s £1.2 billion offer, Ascential has released its half-year financial results for the six months ended 30th June.

Ascential posted a revenue of £158 million (US$203 million) in the first half, which is a year-on-year 15% increase. The company posted an operating profit of £56.3 million (US$72.4 million), compared with £39.5 million in the first half of last year.

Quick takes

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UFI expands education programmes globally

UFI, the Global Association of the Exhibition Industry, will expand its education programmes globally, with growing UFI Exhibition Management School and Venue Management School offerings around the world, and signing two-year UFI Greater Bay Area Education Partnership with Macau Fair & Trade Association (MFTA).

Messe Düsseldorf operative managing director to retire

Messe Düsseldorf’s operative managing director, Erhard Wienkamp announced to retire on 31st July 2024, after 30 years with the company. His successor, Marius Berlemann, will start in the new position on 1st August.

300 exhibitors at VisionChina 2024

Messe Muenchen Shanghai’s VisionChina 2024 (Shanghai) concluded at the Shanghai New International Expo Centre (SNIEC), running from 8th to 10th July 2024. Nearly 300 domestic and foreign exhibitors occupied 30,000 m2 of exhibition space, and attracted a total of 75,423 visitors.

Informa’s profit up 19% in first half year

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London, 24th July: Earlier this week, London-listed Informa PLC released its financial results for the six months ended 30th June 2024. Revenues in the first half were £1.7 billion (US$2.1 billion), representing an underlying increase of 11%. Adjusted operating profit was £467 million (US$590 million), representing growth of 19%.

Informa’s event business, Informa Markets, generated revenues of £838 million (US$1.1 billion) during the period, an increase of 13%. Informa Markets posted an adjusted operating profit of £275 million (US$345 million), up 25% year-on-year.

Meanwhile, Informa also released recommended offer for Ascential plc. The company will acquire the entire share capital of Ascential at 568 pence per share, which is approximately £1.2 billion (US$1.5 billion), and a premium of about 53% to the closing price on 21st July 2024.

RELX’s exhibitions business up 16%

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London, 25th July: Last week, RELX Group plc, parent company of RX Global (formerly Reed Exhibitions), reported its financial results for the six months ended 30th June 2024. Group revenues were £4.6 billion (US$5.9 billion) in the first half of the year, representing growth of 7%. Its adjusted operating profit increased by 10%, reaching £1.6 billion (US$2.0 billion).

RELX’s exhibitions business generated revenues of £601 million (US$760 million), representing a year-on-year growth of 16%. Its adjusted operating profit was £223 million (US$282 million), representing a 33% increase over the previous year.

Global business travel spending expects record highs in 2024

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Worldwide, 24th July: According to the Global Business Travel Association (GBTA), the latest 2024 GBTA Business Travel Index Outlook – Annual Global Report and Forecast showed the global business travel industry has recovered from pandemic.

It is expected global business travel spending by the end of the year to be US$1.48 trillion, which is higher than the figure in 2019 of US$1.43 trillion. It is also projected the global business travel spending to exceed US$2 trillion by 2028.

GL events announces 19% growth in H1 2024 revenue

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Lyon, 18th July: Last week, GL events released its financial results for the six months ended 30th June 2024. It reported revenues of €821 million (US$878 million), representing year-on-year growth of 19%.

In terms of business sectors, GL events Live generated revenues of €497 million (US$531 million), up 35% year-on-year. GL events Venues, with revenues of €211 million (US$226 million), recorded year-on-year growth of 18%. However, GL events Exhibitions’ revenues dropped by 21% year-on-year, down to €113 million (US$121 million).

Quick takes

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UFI announces 2024 UFI HR Management Award

UFI, the Global Association of the Exhibition Industry, released its winner of the 2024 UFI HR Management Award to be IMPACT Exhibition Management. IMPACT will present its projects at the 91st UFI Global Congress, running from 20th to 23rd November 2024 in Cologne, Germany.

Accommodation revenue in Japan rebounds

It is expected a record revenue for the fiscal 2024 (April 2024 to March 2025) for the hotel and ryokan operators in Japan, due to the revenue in the fiscal 2023 rebounding to pre-pandemic levels, and the ongoing strong growth in inbound tourism. Accommodation revenue in fiscal 2023 was 4.9 trillion yen (US$31.3 billion), compared to 5 trillion yen in 2019.

Visitor arrivals in Macau up 44% in first half

According to Macau’s Statistics and Census Service (DSEC), visitor arrivals to Macau increased by 44% year-on-year, reaching 16,719,983 in the first half of 2024, which is about 82% of the same period in 2019.

HKTDC launches Hong Kong Shopping Festival in August

Followed the 2023 Policy Address to assist Hong Kong’s small and medium-sized enterprises (SMEs), the Hong Kong Trade Development Council (HKTDC) will launch the inaugural Hong Kong Shopping Festival across mainland e-commerce platforms, from 1st to 31st August 2024.

TCEB implements new service for MICE travellers

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Thailand, 15th July: The Thailand Convention and Exhibition Bureau (TCEB) will collaborate with three partners agencies, the Department of Consular Affairs, Airport of Thailand Public Company Limited and Immigration Division 2, to implement the “Thailand MICE One Stop Service”, by facilitating the entry of MICE travellers into Thailand.

Under the new service, foreign MICE travellers will minimise procedures and time used in important processes when entering into Thailand. It is also partly consisted of the facilitation of entry for foreign VIP guests at the airport or “MICE Lane Service”. According to TCEB, a total of 211 events requested MICE Lane’s services to serve 6,694 MICE travellers in 2023. In the first six months of 2024, MICE Lane served 9,701 MICE travellers for 160 requesting events.

Informa Markets’ Super Terminal Expo collaborates with CAPA & AAHK

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Hong Kong, 15th July: International event organiser, Informa Markets Asia, announced Super Terminal Expo, will be held from 5th to 7th November 2024, at AsiaWorld-Expo (AWE) in Hong Kong.

Super Terminal Expo will be a groundbreaking event uniting professionals from the aviation, shipping, rail, and road industries. The new event has also joined forces with CAPA – Centre for Aviation, the world’s most trust source of aviation market intelligence and a part of the Aviation Week Network. It is also supported by Airport Authority Hong Kong (AAHK).