RELX releases trade update

London, 24th October: RELX Group plc, parent company of RX Global (formerly Reed Exhibitions), reported underlying revenue growth of over 7% for the first nine months of 2024.

The company also reaffirmed its outlook for the full year 2024. It is reported the company see positive momentum across its business and expect strong underlying growth in revenue and adjusted operating profit.

The exhibitions business grew over 13% in the first months of 2024 due to improved growth profile of its event portfolio and a favourable comparison with the early part of the previous year. It is expected a strong underlying revenue growth with an improvement in adjusted operating margin for the year.

Meorient decreases in revenues and profits

Hangzhou, 30th October: Earlier this week, Meorient, a Chinese exhibition organiser listed in Shenzhen, announced its financial results for the nine months ended 30th September 2024. Revenues in the period were US$61 million, a year-on-year decrease of 9.4%.

The Hangzhou-based company’s net profit dropped 17% year-on-year, down to US$9.7 million. Diluted earnings per share in the first nine months of 2024 were RMB 0.30 (US$0.043).

The company did not comment on the changes of its revenues and profits.

The Shenzhen-listed company also reported its financial results for the quarter ended 30th September. Revenues in the quarter were US$24 million, representing year-on-year growth of 42%. In the third quarter, the company’s net profit jumped 396%, reaching US$3.9 million.

Meorient organises B2B sourcing shows to bring Chinese exhibitors to overseas markets including India, Turkey, U.A.E., Mexico, Poland and Brazil.

DLG Exhibitions’ revenues down 3.3%

Shanghai, 26th 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 2024. The company generated revenues of US$133 million, representing a year-on-year decrease of 3.3%.

The company posted a decline of 17% in its net profit, down to US$29 million in the first nine months of 2024. Diluted earnings per share in the nine-month period were RMB 0.28 (US$0.040).

In the reported period, the company hosted and organised a total of 17 exhibitions occupying a scale of over 1.01 million m2. The Shanghai World Expo Exhibition and Convention Center, the venue operated by DLG, held some 65 exhibitions and events, with a total rental area of over 8 million m2.

During the third quarter, the company has transferred 4 shares for every 10 shares to all shareholders from the capital reserve, following the approval of the “2024 Annual Profit Distribution and Capital Reserve Transfer Plan (translated name)”.

DLG also announced its financial results for the quarter ended 30th September. Revenues in the quarter were US$49 million, dropping 14%. However, the net profit grew 143% in the quarter, amounting at US$17 million.

Quick takes

Sri Lanka’s largest convention and gaming centre opens

Sri Lanka’s Cinnamon Life at City of Dreams has recently opened, becoming the largest hotel and convention centre in Sri Lanka. It provides 687 luxurious rooms, multiple entertainment venues and state-of-art-convention facilities. Convention facilities include Lumina Ballroom, capable of accommodating over 1,860 guests; Forum, offering a capacity of 1,280 guests; and also Studio, Boardrooms, Cumulus Ballroom, Celestine Ballroom and Podium, accommodating between 200 and 1,200 guests.

UFI introduces new logo and brand identity

UFI, The Global Association of the Exhibition Industry, has revealed a new logo and updated branding. According to UFI, the new logo marks the beginning of the association’s centennial, showcasing legacy, reflecting the evolution of the organisation.

ASM Global appoints new CEO at ICC Sydney

ASM Global, management company of International Convention Centre Sydney (ICC Sydney), announced leadership changes for the venue. Adam Mather-Brown, the current General Manager, has been appointed as the Chief Executive Officer, following the retirement of former CEO, Geoff Donaghy.

General Manager appointment for Nyaal Banyul

Nyaal Banyul Geelong Convention and Event Centre, the new venue operated by Melbourne Convention and Exhibition Trust (MCET), appointed Rick Aylett as the General Manager. He has been served as the Project Director for Nyaal Banyul since 2022.

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 2024)

TCEB executive team appointments

Thailand, 23rd October: The Thailand Convention and Exhibition Bureau (TCEB) has announced several new executive appointments:

Nichapa Yoswee and Puripan Bunnag will promote as Senior Vice President. Nichapa Yoswee will supervise domestic marketing initiatives and build partnerships within Thailand, while Puripan Bunnag will supervise international marketing initiatives and establish global partnerships.

Salanroj Sutaschuto has been appointed as Chief Operating Officer, responsible for organisational management and development, and coordination between government and private sectors, both domestically and internationally.

Jaruwan Suwannasat will be the Chief Information Officer and she will be tasked with driving innovation development.

Parichat Svetasreni has been appointed as Director of the Mega Events and World Festivals Department, Harisuda Boonyawat will be the Director of the MICE Intelligence and Innovation Department, and Nooch Homrossukhon will serve as the Director of Corporate Image and Communications Department.

Messe Berlin to launch Smart Health Asia

Singapore, 23rd October: International exhibition organiser, Messe Berlin, and the Singapore Tourism Board (STB) signed a Memorandum of Understanding (MOU) to organise Smart Health Asia in Singapore in 2026.

The event will run from 1st to 2nd July 2026 a d will be organised by Messe Berlin Asia Pacific, Messe Berlin’s Asia Pacific office headquartered in Singapore.

The event will offer a platform for digital healthcare sector in the Asia-Pacific region, targeting from healthcare players and tech innovators to investors and political decision-makers. Exhibitors, from startups to global players, will showcase their innovations.

Mario Tobias, CEO of Messe Berlin, said, “With Smart Health Asia, we are filling a significant gap in the event landscape by offering a platform that addresses the entire digital health ecosystem. Our goal is to bring the best minds together to shape the future of healthcare in Asia Pacific. Smart Health Asia will be the window to the future of smart health, focusing on the innovations that are driving change across the region.”

GL events’ revenues up 18% in Q3

Lyon, 16th October: GL events released its financial results for the quarter ended 30th September 2024. It reported revenue growth of 18%, reaching US$428 million.

In terms of business sectors, more than 65% of GL events’ total revenues were generated from its GL events Live, amounting to US$279 million, up 24% year-on-year. The second largest sector, GL events Venues, generated revenues of US$121 million, which accounts for 28% of total revenues, representing year-on-year decrease of 23%.

The remaining revenues were generated by GL events Exhibitions, which drew 25% year-on-year, down to US$28 million. According to the GL events, the growth in GL events Exhibitions was driven by the strong performances in its local market (France) and international markets (Sao Paulo, Aichi, Budapest and Brussels).

GL events also reported its results for the nine months ended 30th September, with revenues of US$1.34 billion, growing 19% year-on-year. The company also released new targets for FY2024, targeting growth in full-year above 10%.

Olivier Ginon, Chairman-CEO of GL events Group, commented, “GL events maintained its momentum in the third quarter of 2024 with an 18% increase in revenue… we are confident that GL events’ annual revenue will grow more than 10% in 2024 compared to 2023, driven by the performances of the Live and Venues divisions. We are also looking forward with confidence to 2025, a year that will benefit not only from favourable biennial effects but also growth of the Anhembi event venue, the addition of new sites and the signature of contracts for major world events.”

Quick takes

HKTDC to open optical and wine & spirits fairs in November

The Hong Kong Trade Development Council (HKTDC) will open two trade fairs in November, at the Hong Kong Convention and Exhibition Centre (HKCEC). Hong Kong International Optical Fair, co-organised with the Hong Kong Optical Manufacturers Association (HKOMA), will take place from 6th to 8th November 2024, showcasing over 700 exhibitors from 17 countries and regions under four trends: technology, lifestyle, functionality and sustainability. Hong Kong International Wine & Spirits Fair will be held from 7th to 9th November, presenting fine wines and spirits for over 600 exhibitors from 20 countries and regions.

Furniture China 2024’s overseas visitors up 12%

Shanghai Sinoexpo Informa Markets International Exhibition Co., Ltd.’s Furniture China 2024, the 29th China International Furniture Expo, running from 10th to 13th September, concluded at Shanghai New International Expo Centre (SNIEC). Over 3,000 exhibitors from 25 countries and regions featured sectors of furniture manufacturing to home design and material supply. A total of 167,250 visitors attended the expo, of which 28,644 were overseas buyers, up 12% year-on-year.

Macau’s visitor arrivals up 30%

Macau’s Statistics and Census Service (DSEC) released its latest number of visitor arrivals for the nine months in 2024, with 25,920,914 visitors, a year-on-year increase of 30%, and recovering to 86% of the number in the same period of 2019 (pre-COVID level). Same day visitors (13,834,674) grew 43%, while overnight visitors (12,086,240) were up 18%. The average length of stay dropped 0.1 day year-on-year, down to 1.2 days; while the figure of overnight visitors remained unchanged at 2.3 days.

Global Sources opens Hong Kong Shows Phase II

Global Sources opened its second phase of the Global Sources Hong Kong Shows, running from 18th to 21st October, at the AsiaWorld-Expo (AWE), in four major trade shows: Mobile Electronics; Smart Home, Security & Home Appliances; Lifestyle; and Home & Kitchen. Some 2,000 exhibitors occupied about 4,000 booths, presenting over 150,000 products.

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 2024)

TCEB opens Mini EEC Fair 2024

Pattaya, 8th October: The Thailand Convention and Exhibition Bureau (TCEB) and the Eastern Economic Corridor Office (EECO) jointly organised the Mini EEC Fair 2024, running from 8th to 9th October 2024.

The event aims to attract investment in strategic future industries to drive the Thai economy, focusing on “EEC Opportunities: Investment Solutions Towards Sustainable Locals”. It is expected to draw over 2,500 participants from both Thailand and abroad.

Key activities included a keynote outlining the vision and future development of the EEC; and a panel discussion providing new perspectives on financial opportunities for investors in the EEC. Other activities include presentations covering business opportunities in five targeted industries; seminars on investment support in the EEC region; and EEC OOS (One-Stop Service), designed to facilitate decision-making for investors.

Mr. Puripan Bunnag, TCECB Senior Vice President, stated, “The Mini EEC Fair 2024 leverages MICE (Meetings, Incentives, Conferences, and Exhibitions) to enhance Thailand’s potential as an investment hub. This event not only demonstrates MICE’s ability to connect investors and entrepreneurs but also highlights its role in driving new business and investment opportunities in the EEC, particularly in the 12 existing target industries and the 5 new high-potential industries. Especially in the health and medical tourism industries, which are key targets for Thailand’s economic future. Promoting these industries will enhance Thailand’s competitive edge and contribute to sustainable economic growth.”

Indonesia promotes new MICE destinations

Indonesia, 14th October: Indonesia’s Ministry of Tourism and Creative Economy (MoTCE) promotes Jakarta, Bandung and Surabaya as the country’s destinations suitable for business events, by conducting a media fam trip by.

In terms of business facilities, Surabaya has two prominent convention centre: Dyandra Convention Center Surabaya and Grand City Convex Surabaya; Bandung offers Plataran Bandung, Intercontinental Bandung Dago Pakar, and Trans Luxury Hotel Bandung; Jakarta’s various business facilities are suitable for large-scale events.

According to MoTCE, Bali has already been established as a world-renowned business events destination, therefore, new destinations will need to be developed. It is suggested to combine two destinations in a single trip for corporate travellers for both business and leisure purposes.

Western Australia to redevelop PCEC

Perth, 16th October: The Western Australian (WA) government announced to allocated AR$16.6 million (US$11.1 million) to fund the Project Definition Phase (PDP) for the proposal, including plans to redevelop the Perth Convention and Exhibition Centre (PCEC).

The PDP proposal plans for expanded convention centre capacity to attract large-scale business events. It also envisions integrating the precinct with Elizabeth Quay and delivering a public realm featuring new waterfront facilities, an outdoor theatre, and improved connectivity with the Swan River.

Under the plan, PCEC will retain column-free exhibition space of 16,500 m2, and Riverside Theatre will be upgraded and expanded from 2,500 to 3,500 seats. The venue will be expanded to 24,000 m2, to include a new, four-storey wing with meeting rooms, ballrooms, a 100-seat plenary and a flexible multi-use hall. The redevelop construction is scheduled to begin in January 2025 and to reopen by late 2028.

WTTC: business travel to reach US$1.5 trillion

Worldwide, 8th October: The World Travel & Tourism Council (WTTC) has released a new report showing that business travel to surpass pre-pandemic levels this year, reaching US$1.5 trillion.

Business travel is back due to business leaders re-emphasised the importance of face-to-face interaction.

Julia Simpson, WTTC president & CEO, stated, “After a challenging few years, business travel is not only back on track, but it is recovering much faster than expected, highlighting the importance of international travel for businesses around the world. Many business powerhouses such as the US, China and Germany are expected to reach record numbers this year. While virtual meetings played a crucial role during the pandemic, keeping people and businesses connected, today’s report shows that business is better face to face.”

Separately, CWT and the Global Business Travel Association (GBTA) released a special supplement titled “2040: Baseline, Boom, or Bust”, examines three distinct scenarios that could define the future of business travel.

In the Base Case scenario, business travel is projected to stabilise with a moderate growth rate, reaching just over 1 billion passengers by 2024. Under the Boom scenario, business travel will experience robust growth, with global business travellers exceeding 1.2 billion passengers by 2024. In the Bust scenario, business travel growth slowly, with business travellers of about 800 million by 2024.

Nick Vournakis, executive vice president and chief customer officer at CWT, said, “The future of business travel is at a critical juncture, driven by technological advancements, sustainability mandates, and evolving global dynamics. Our report emphasises the need for businesses to be adaptable and proactive in their travel strategies. Whether navigating a boom in global travel or adapting to a slowdown, businesses that proactively integrate technology, prioritise sustainability, and stay agile will be best positioned to thrive in this shifting landscape.”

Quick takes

Yokohama plans to boost business events and leisure tourism

Japan’s city in Kanagawa Prefecture, Yokohama, has developed a business events and tourism strategy for 2023, planning to attract more visitors by highlighting its cultural, natural, and historical assets. Yokohama Convention & Visitors Bureau has introduced 8 new tours specifically designed to cater to the preferences of convention attendees.

HKTDC’s electronics fairs attract 60,000+ buyers

The Hong Kong Trade Development Council (HKTDC) has recently concluded its Hong Kong Electronics Fair (Autumn Edition) and electronicAsia (jointly organised with MMI Asia Pte Ltd). Running from 13th to 16th October, at the Hong Kong Convention and Exhibition Centre (HKCEC), some 3,200 exhibitors from 19 countries and regions attracted over 60,000 industry buyers from 136 countries and regions.

350+ exhibitors at Informa’s Fi India, ProPak India 2024

Organised by Informa Markets in India, the co-located Fi India and ProPak India 2024 provided a platform for driving innovation and establishing new trends, offering an annual one-stop sourcing destination for food, beverage and health ingredients, processing and packaging. Over 350 exhibitors showcased products and solutions for the food, health, packaging, and processing sectors, attracting more than 25,000 visitors.

Media 10 sells 100% Optical to CloserStill

Media 10 announced the sale of 100% Optical to CloserStill Media. The financial details for the deal were not disclosed. Launched in 2014, 100% Optical is a leading event in the optical sector in the U.K., drawing over 10,000 visitors and occupying 20,000 m2 at Excel.

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 2024)

248 business events held in Malaysia in 2023

Malaysia, 7th October: The Malaysia Convention & Exhibition Bureau (MyCEB) has released its annual report for 2023.

In 2023, MyCEB reported a total of 248 business events were held in Malaysia, featuring 180,703 international delegates. The events generated an estimated economic impact of RM 2.8 billion (US$653 million).

During the year, a total of 106 convention events were held in Malaysia. In addition, 44 exhibition events took place in 2023. The remaining events were corporate meetings & incentives, and international sporting events.

MyCEB also successfully secured 56 business events bids in 2023, which will bring more than 108,000 delegates, contributing to an estimated economic impact of over RM 700 million. (US$163 million).

Informa plans for growth in 2025-2030

London, 9th October: London-listed Informa PLC released its latest plan for 2025-2030, following the completion of the Ascential plc acquisition.

In 2025, Informa will establish three focused Live B2B Events businesses: Informa Markets to focus on transaction-led B2B events, Informa Connect to focus on content-led B2B events, while Informa Festivals to focus on experience-led events. It is expected to receive revenues of more than £4 billion (US$5 billion), with an underlying revenue growth of over 5% in 2025.

The company also updated its 2024 guidance with revenues of over £3.5 billion (US$4.6 billion), adjusted operating profit of over £970 million (US$1.3 billion) and free cash flow of £740 million (US$970 million).

Stephen A. Carter, Group Chief Executive, said, “The completion of the Ascential acquisition, creation of Informa Festivals and prospective creation of Informa TechTarget will establish leadership and scale in all our chosen B2B market segments, complementing our strength in Academic markets and creating a platform for growth from 2025 to 2030. Over the last four years, our strategy has been to build further strength and depth in B2B businesses, targeting new growth opportunities as the Live B2B Events market segments and becomes increasingly sophisticated, and B2B Digital Services mature.”

Baidu announces management rotation

Beijing, 8th October: Baidu, the leading Chinese language Internet search provider, announced management rotation.

The current Chief Financial Officer, Mr. Rong Luo, has been appointed as Executive Vice President for in charge of the Baidu Mobile Ecosystem Group (MEG). Meanwhile, the current Senior Vice President and Head of the Baidu MEG, Mr. Junjie, has been appointed as the Interim Chief Financial Officer.

According to Baidu, the management rotation underscores its ongoing commitment to fostering executive leadership development, optimizing organizational structure and supporting its long-term growth objectives.

Mr. Robin Yanhong Li, Baidu's co-founder and CEO, was quoted, “On behalf of the board of directors and senior management, we are delighted to welcome Mr. Rong Luo to his new role as head of the Baidu Mobile Ecosystem Group, and we are confident that his leadership will continue to be instrumental in this position. We also extend our sincere appreciation to Mr. Luo for his significant contributions as our Chief Financial Officer over the past few years. In addition, we will have Mr. Junjie He join our management team with his new role as the Company’s Interim CFO, and we believe his extensive experience in management, investment and finance will be invaluable in driving Baidu’s strategic initiatives going forward.”

Quick takes

300+ exhibitors at IE expo Shenzhen 2024

Organised by the Guangdong Association of Environmental Protection Industrym Messe Muenchen Zhongmao Co., Ltd., Messe München, and the Chinese Society for Environmental Sciences (CSES), IE expo Shenzhen 2024 took place at Shenzhen World Exhibition & Convention Center, running from 23rd to 25th September,. A total 317 exhibitors from 9 countries and regions showcased cutting-edge products, equipment, technologies, and materials of environmental technology, covering 26,000 m2 of exhibition space and attracting 16,175 trade visitors.

REFCOLD India 2024 attracts 10,000 visitors

REFCOLD India 2024, a leading refrigeration exhibition in India, was held from 3rd to 5th October, at Biswa Bangla Mela Prangan in Kolkata. Over 130 exhibitors displayed innovations in cold chain industries, featuring more than 10,000 visitors to the event.

HKTDC opens 4 tech fairs in October

The Hong Kong Trade Development Council (HKTDC) will host four technology fairs later this month: Hong Kong Electronics Fair (Autumn Edition), electronicAsia, Hong Kong International Lighting Fair (Autumn Edition), and Hong Kong International Outdoor and Tech Light Expo. The four fairs will feature some 6,200 exhibitors from 29 countries and regions.