Lander & Rogers' Sports Business Group is the leading sports law practice in Australia, representing over 150 national and international sporting bodies. Our clients include international…read more
Study reaffirms economic benefits of Hong Kong’s exhibition industry
A newly released study into the value of Hong Kong’s exhibition industry shows it contributed an impressive HK$52.9 billion (US$6.8 billion) to Hong Kong’s economy in terms of expenditure, equivalent to 2.3% of the city’s total GDP in 2014.
The findings from the latest Economic Impact Study on the contribution of the exhibition industry to the economy in 2014, contained encouraging news for the industry and for Hong Kong with strong positive growth by comparison with the figures from the previous Economic Impact Study, covering 2012.
The expenditure effects of the exhibition industry in 2014 were up by 29% from 2012, at a compound annual growth rate (CAGR) of 13.9%. A significant part of this was contributed by the direct spending of international exhibitors and exhibition visitors, who according to the study tend to spend 61% more per visit than the average overnight tourist visitor to Hong Kong, with their spending focused in the retail, hotel and F&B sectors.
The Study, commissioned by the Hong Kong Exhibition & Convention Industry Association (HKECIA), also shows that apart from direct economic benefits in terms of expenditure, the exhibition industry also provided equivalent of around 83,500 full-time jobs in the exhibition industry and other service and supporting sectors including hotel, F&B, retail, stand design and construction, and logistics and freight forwarding.
In 2014, the financial benefits (benefits arising from various government taxes associated with exhibition activities and participants) contributed by the exhibition industry amounted to HK$2.1 billion (US$269.9 million).
Commenting on the findings, HKECIA Chairman Stuart Bailey stated “we welcome this Study and the results because, once again, it highlights just how important our industry is for Hong Kong.
“The study shows in great detail the many ways in which exhibitions fuel Hong Kong’s wider economy - for example by spinning off economic benefits and extensive workforce to supporting industries, and attracting high-spending international business visitors to the city.
“The Study also reveals that overseas exhibition exhibitors and visitors continue to spend more than international overnight tourists. We should put efforts in making them visit the exhibitions in Hong Kong regularly.
“To continue providing Hong Kong with benefits at this level, our exhibition industry needs to remain attractive, efficient and competitive. We must continually be looking for ways of differentiating ourselves from regional competitors, in terms of things like providing premium exhibition space, ample capacity, and exceptional value-added services.
“I hope our policymakers will take the findings of this Study into account as they plan for the infrastructure and facilities that Hong Kong needs in the years to come.”
This is the sixth in a series of Economic Impact Studies, which have been carried out biennially since 2004. It was once again conducted by KPMG Advisory (Hong Kong) Limited, a respected independent research consultancy.
The Hong Kong Exhibition and Convention Industry Association (HKECIA) was established in 1990 to promote Hong Kong as a world-class exhibition and conference destination and the trade fair capital of Asia Pacific. It works to represent the interests of all members involved in the exhibition and convention industries, and provides a unified voice in dealing with the government, legislative and statutory bodies, the media and public organisations, on all matters associate with the role of the exhibition and convention industry in Hong Kong’s economy.
HKECIA is a member of UFI - The Global Association of the Exhibition Industry, and AFECA - The Asian Federation of Exhibition and Convention Associations.
24th June 2016 - HONG KONG GOVERNMENT ADVANCES KAI TAK SPORTS PARK PROJECT
6th October 2014 - HONG KONG TRADE EXHIBITIONS UNAFFECTED BY PROTEST MOVEMENT
11th November 2013 - STUDY SHOWS WORTH OF HONG KONG’S EXHIBITION INDUSTRY
Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?
The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.
However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.
Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.
Subscriptions cost just $90 a year.
Click here to subscribe.
The Complete Guide to Leisure Industry Products & Services.
PathMinder Pty Ltd have partnered with AllUser Industries srl to bring Europe’s most advanced high security portals to the Australian and New Zealand markets. AllUser Industries started to…read more
Hydrocare Pool Services Pty Ltd offer 30 years of experience in aquatic industry features, products and water treatment. Hydrocare Pools has undertaken water treatment for aquatic centres and…read more
Summit Fitness Equipment is now part of NovoFit - see www.ausleisure.com.au/suppliers/novofit/read more
TRP help health clubs, leisure centres and gyms across the globe create happy, loyal members through our user-friendly software which enables effective engagement and the delivery exceptional customer…read more
Ausfit began in 1992, providing software services to the health and fitness sector including ClubWise, a fully hosted web-based product which combines state of the art club management software,…read more
SICO is at the forefront in innovative mobile folding and rolling, space efficient tables, stages, dance floors and many other products which help our customers optimise their use of space. Image…read more
Track. Engage. Retain GreeneDesk is a suite of cloud based software solutions helping health clubs, leisure centres and swim schools to effectively track progression, improve customer engagement and…read more
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!