AsiaWorld-Expo Contributed HK$9 billion to HK Economy in 2008

A recent Economic Impact Study Report 2008 commissioned by the Hong Kong Exhibition and Convention Industry Association (HKECIA) and conducted by KPMG Transaction Advisory Services Limited reveals just how much of a role AsiaWorld-Expo plays in Hong Kong’s exhibition industry.

 In 2008, international trade fairs at AsiaWorld-Expo accounted for close to 30% of the entire Hong Kong trade exhibition market. In economic terms, the venue contributed an estimated HK$9 billion to the local economy in 2008 alone, an increase of over 10% when compared to 2007. This economic success likewise translated into significant job opportunities, with an estimated 18,000 full-time-equivalent jobs provided by AsiaWorld-Expo in 2008, an increase of close to 3% compared to 2007.

In the space of just four years, AsiaWorld-Expo has hosted an extraordinary variety of high-profile global MICE events. These have included the China Sourcing Fairs, which now feature over 14,000 exhibitors and more than 144,000 trade visitors each year. The Asian Aerospace International Expo and Congress is one of the world’s largest dedicated commercial aerospace and aviation showcases, the biennial event is confirmed to return in March 2011. Likewise, the Hong Kong Jewellery and Gem Fair, co-hosted at AsiaWorld-Expo under an innovative “One Fair, Two Venues” concept, is now one of the world’s largest jewellery fairs.

In the convention market, too, AsiaWorld-Expo has made a name for itsel. Recent conferences have included the internationally-acclaimed Conference on Information and Knowledge Management 2009, The Sino-International Freight Forwarders Conference in 2008 and 2009, LINC Asia-Pacific in 2009 and 2010, Sunrider Asia Convention 2009, Hong Kong Fire Conference 2009, and the First World Conference of Endoscopy Physicians (19th General Assembly Session of Chinese Endoscopy Physicians) / First World Endoscopy Technology Expo among others.

“This year marks the 5th anniversary of AsiaWorld-Expo,” added Mr. Allen Ha, Chief Executive Officer, AsiaWorld-Expo Management Limited. “We are humbled by our extraordinary success over the last four years, and remain committed to continue contributing to the development of Hong Kong’s MICE industry. Indeed, AsiaWorld-Expo is still a young venue and has significant capacity for growth in the years ahead.”

Looking to the future, AsiaWorld-Expo is uniquely positioned to capitalise on the rapid economic growth of China’s Pearl River Delta (PRD) region. Following completion of the Hong Kong-Zhuhai-Macau Bridge and other cross-boundary infrastructural facilities, AsiaWorld-Expo and the entire Hong Kong International Airport district will be seamlessly integrated with the PRD economy, providing a dramatically enlarged catchment area for MICE events.

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