Conventions, exhibitions coming back with a bang

The convention and exhibition sector is expected recover this year and even surpass prepandemic levels with major events returning to Hong Kong, says Secretary for Commerce and Economic Development Algernon Yau Ying-wah.

Yau said at least 150 conventions and 160 exhibitions will be held at the Hong Kong Convention and Exhibition Centre and AsiaWorld-Expo this year.

Many events - including the APLF Leather Fair held in Dubai last year and the wine and spirits trade show Vinexpo Asia held in Singapore also last year - will return to Hong Kong, he said. Also, Hongkongers will be able to participate in some events - like the Korean culture convention KCON and the US pop culture festival ComplexCon - for the first time.

Yau said the government launched the HK$1.4 billion Incentive Scheme for Recurrent Exhibitions last July to offer organizers of exhibitions rent subsidies of up to HK$20 million at the HKCEC or AsiaWorld-Expo to help the sector recover after the pandemic.

The government plans to subsidize 200 exhibitions over three years, 61 of which have already been held.

"As of January 31, we have approved 54 subsidy applications of finished exhibitions, involving HK$265 million. These exhibitions attracted some 80,000 exhibitors - 30,000 local and 50,000 nonlocal - as well as 1.2 million visitors," Yau said.

"Looking ahead, we expect the convention and exhibition sector to recover and even perform better than the prepandemic period." He said the sector has already resumed 70 to 80 percent of prepandemic levels since the border reopening early last year.

Hosting large-scale conventions and exhibitions can benefit the hotel, catering and retail sectors, he said.

Hong Kong Trade Development Council figures show that the exhibition sector contributed HK$58.6 billion to the city's economy in 2018 to account for 2.1 percent of the annual gross domestic product, as well as 77,000 jobs, Yau said.

He said that in 2019, 1.69 million overnight visitors came for conventions and exhibitions, spending an average of HK$7,200 - 23 percent more than the average budget of overnight visitors, contributing a total of HK$12.2 billion.

Yau pledged to continue to promote the development of conventions and exhibitions to consolidate Hong Kong's status as an international hub.

HKTDC chairman Peter Lam Kin-ngok said conventions and exhibitions play important parts in the "events economy."

At least one major event will be held each month, including the International Jewellery Show and the International Diamond, Gem & Pearl Show next month, InnoEX in April and Asia Summit on Global Health in May.

wallis.wang@singtaonewscorp.com