UFI Report: Macao MICE Sector Booming

Union des Foires Internationales (UFI) recently issued the Trade Fair Industry in Asia - 14^th Edition, a document that profiles the development of the Asian MICE industry in 2017. Some 26 B2B exhibitions that took place in Macao in 2017 were included in the UFI statistics. The exhibition industry in the city reportedly posted income of nearly US$54 million, while sales of net exhibition space increased by more than 50 per cent compared to five years prior.

The report underlined that Macao is one of the youngest and smallest MICE markets in Asia but has nevertheless achieved most in the MICE market in Asia over the past five years. Net sales of exhibition space in Macao rose from 143 thousand square metres in 2013 to 217.5 thousand squares metres in 2017, representing an increase of approximately 52.1 per cent, the highest growth in Asia. Meanwhile, each professional exhibition recorded an average revenue of approximately US$2.1 million, thus indicating that Macao's MICE market had surpassed overall economic performance.

The leading global association for the exhibition industry, UFI issues the Trade Fair Industry in Asia report on an annual basis, serving as an important reference for international exhibition organisers and exhibition managers. Macao Trade and Investment Promotion Institute became a member of UFI in October 2005, since when it has actively participated in events organised by the association. Currently, seven local exhibition brands have been recognised by UFI in industries covering areas such as commerce and trade, environmental protection, automobiles, yachts and aviation.