The economic activity generated by exhibitions in the Asian city state equates to 1.6 per cent of Hong Kong’s GDP, while exhibitions in the city are responsible for 67,000 full time jobs.
A little over half of the HK$50.2 billion contribution – HK$23.3 billion (A$4.13 billion) was direct spending by exhibition organisers, exhibitors and exhibition attendees.
With both international exhibitors and attendees spending, on average, more than HK$9,000 (A$1,590) per trip, international exhibition participants spent 70 per cent more per person than leisure visitors to Hong Kong.
However, the results of the research, completed by Oxford Economics for HKECIA, also show that Hong Kong’s exhibition industry is yet to fully recover from the pandemic, with similar metrics from 2018 showing exhibitions generated HK$58.6 billion (A$10.38 billion) in economic activity, representing 2.1 per cent of GDP.
“While the Hong Kong exhibition industry is gradually recovering, the steadfast backing of the government has been instrumental in this trajectory,” said HKECIA chair, Wendy Lai.
“Proactive measures, including vital financial assistance, have sustained a robust exhibition calendar and successfully attracted new international exhibitions to launch in Hong Kong.
“The exhibition industry remains a cornerstone of Hong Kong’s status as a premier international trade hub.
“Our unique advantages position us perfectly to align with the nation’s 15th five-year plan and propel the growth of ‘new quality productive forces’,” she said.
“Moving forward, we remain committed to collaborating closely with the government to fortify Hong Kong’s strategic position as the ‘trade fair capital of Asia’.
By fostering a high-quality MICE ecosystem, we not only reinforce Hong Kong’s global standing, but also provide a strategic launchpad for Chinese Mainland enterprises expanding overseas.
“We are confident our vibrant exhibition sector will continue driving long-term economic prosperity,” said Lai.
