As COVID subsides, large-scale physical exhibitions in Hong Kong are back in full swing. Hong Kong Convention and Exhibition Centre (HKCEC) will complete its HKD1 billion Five-Year Advancement Project in the coming year, and the Government is launching a HKD1.4 billion new scheme to provide funding and stimulus to promote exhibitions held in Hong Kong. Monica Lee-Müller, Managing Director of Hong Kong Convention and Exhibition Centre (Management) Limited (HML), has full confidence in the development prospects of Hong Kong's exhibition sector.
Hong Kong is globally recognized as one of the best host cities for exhibitions and conferences, and the spending of overseas event participants is a major source of income for the exhibition service industry. Regrettably, the pandemic has brought international economic and trade activities to a standstill in the past few years. Hong Kong's exhibition industry is by no means immune to the crisis.
Anticipating rentals to return to pre-pandemic levels next year
As normal operation resumes after the pandemic, HML has received an increasing number of space rental enquiries from overseas and local exhibition and conference organizers. Lee-Müller reveals, “HKCEC hosted about 1,000 events annually before the pandemic, out of which 70 regular commercial and trade fairs have confirmed they will continue or return to hold events in HKCEC.” She expects exhibition business to recover in the latter half of 2023, reaching 70% of pre-COVID levels, and then regain pre-COVID levels next year.
Enhancing facilities during the pandemic
The pandemic over the last three years caught the exhibition and related industries by surprise. However, HML continued to improve the sector's competitiveness through various measures during this hiatus. According to Lee-Müller, while maintaining contact with international exhibition organizers throughout the pandemic to provide updates on anti-epidemic measures in Hong Kong and available rental time slots, HML has used the “COVID period” to upgrade facilities and carry out advancement projects, including comprehensive inspection, maintenance and service, so as to prepare HKCEC for the resumption of normalcy.
Lee-Müller also points out that the HKCEC advancement project is expected to complete in mid-2024. Energy-saving equipment will be introduced to keep pace with the global green trend.
Attracting exhibitors to return to Hong Kong
During the pandemic, some countries and regions relaxed or cancelled their COVID restrictions ahead of Hong Kong. Some large-scale international exhibitions were held in other cities as a result. In view of this, the SAR Government introduced the HKD1.4 billion Incentive Scheme for Recurrent Exhibitions, sponsoring more than 200 exhibitions to be held in Hong Kong in the next three years. The scheme aims to attract regular events that relocated elsewhere in recent years to come back to Hong Kong.
Lee-Müller indicates that regular international fairs can enjoy 100% rental subsidy as an incentive, while 50% rental subsidy is offered to other regular events. HML will assist organizers to apply for funding when application details of the scheme are announced.
Warm and attentive convention and exhibition services
Lee-Müller says based on what she and her marketing and sales colleagues have gathered from international organizers, Hong Kong being an ideal exhibition destination is still the consensus. Competitive edges like world-class infrastructure, extensive transport networks and high operation efficiency continue to put Hong Kong on the map. Moreover, Hong Kong's proximity to the huge mainland market will bolster the development of its exhibition activities, trade and tourism.
HKCEC's post-pandemic recovery is also supported by other favorable developments. As Lee-Müller explains, the Exhibition Centre MTR Station which came into service last May makes visiting the facility more convenient. She says, “We are highly confident about the industry's development prospects. Hong Kong still has all its advantages as the ‘Trade Fair Capital of Asia'”.
