UFI: Macao MICE Posts Biggest Growth in Asia
Macao received a resounding thumbs-up from UFI’s 13th edition of ‘The Trade Fair Industry in Asia’ (Photo courtesy of Macao Trade and Investment Promotion Institute)
One of the most representative associations of the exhibition industry, the Global Association of the Exhibition Industry (UFI), published the 13th edition of 'The Trade Fair Industry in Asia' in September, analysing the development of the trade fair market in Asia throughout 2016. During the year, some 26 B2B trade fairs were held in Macao, according to UFI statistics. Revenues from exhibitions were estimated at around US$53.55 million, with 215,250m2 of net space sold, posting a rise of 2.9 per cent vis-a-vis 2015.
According to the report, Macao was one of the trade fair markets with the shortest development history and also one of the smallest in Asia, as well as returning the best performance in the region over the past five years. When compared with the growth of the overall exhibition industry in Asia, Macao´s net spaces sold grew from 72,500m2 in 2012 to 215,250m2 in 2016, showing an increase of almost 200 per cent, to become the region with the biggest growth in Asia.
Even though Macao´s economy is constantly affected by the external economic environment, the number of net exhibition spaces sold has continued to grow, with average revenue per exhibition recorded as approximately US$2.1 million, indicating that Macao's exhibition market performed better than the overall economic performance.
Furthermore, the report indicated that the strong support of the Macao SAR Government for the exhibition industry, along with ancillary facilities, contributed to the stable development of Macao´s exhibition industry. For example, the Hong Kong-Zhuhai-Macao Bridge, slated to open at the end of 2017, and the gradual expansion of the flight network of Macau International Airport, will significantly improve regional transportation, creating a new economic perspective for the Pearl River Delta Region. The report predicts that over the next two to three years the exhibition industry will maintain an average growth rate of 5 per cent in the region.
Every year, UFI commissions professional consultants to conduct studies and analysis of exhibitions targeting professional visitors (B2B), and publishes its annual report on the trade fair industry in Asia. The report is an important reference for international exhibition organisers and managers.
Macao Trade and Investment Promotion Institute (IPIM) has been a member of the UFI since October 2005 and is actively involved in the many initiatives of the organisation. Six of the local branded trade fairs have already become UFI-approved events, covering various sectors such as business and trade, environmental protection, automobiles, yachts and aviation industries.
Macao 'Conference Ambassadors'
More efforts have been made to attract a greater number of regional and international conventions to Macao in a bid to promote the city´s exchanges with other parts of the world and thus drive the growth and development of its different business sectors.
To help reach this MICE goal, Macao Trade and Investment Promotion Institute (IPIM) has harnessed the skills and expertise of several individuals in the role of Conference Ambassadors; namely, former President of FDI World Dental Federation Dr. Orlando Monteiro da Silva; former Minister of Science and Technology of the People's Republic of China Zhu Lilan; Member of the Chinese Academy of Engineering He Jingtang; Li Ning Company Ltd. founder and Executive Chairman Li Ning; prestigious specialist in molecular genetics Professor Tsui Lap-Chee; and member of the Advisory Board of the Macao Science and Technology Development Fund Professor Liu Chung Laung.