Trade shows are big business in Hong Kong, according to the results of a new economic impact study. In 2012, it finds, exhibitions generated $5.2 billion in expenditures in Hong Kong, up 14 percent from 2010 and representing 2 percent of Hong Kong’s overall GDP, the Hong Kong Exhibition and Convention Industry Association (HKECIA) reported this month.
The study also examined fiscal benefits (e.g., taxes) and employment, and found increases in both: Exhibition-related taxes in 2012 totaled $180 million while employment totaled 69,600 full time equivalent jobs. The compound annual growth rate for spending, taxes and jobs is 6.7 percent, 13 percent and 0.3 percent, respectively.
“The period from 2010 to 2012 was a difficult one economically, so it is good news to find from this independently verified study that the exhibition industry in Hong Kong has remained so robust,” HKECIA Chairman Daniel Cheung said in a statement. “Besides affirming the internal health of our exhibition industry, this study shows its direct link with Hong Kong’s wider prosperity. Exhibitions bring in large amounts of business opportunities and attract hundreds of thousands of high-spending visitors. The expenditure and employment opportunities benefit not just exhibition industry players such as venue operators, exhibition organizers and stand contractors, but also hotels, retail, F&B, advertising and other sectors. More generally, they play a vital part in reinforcing Hong Kong’s image as a vibrant, business-friendly international city, and maintaining our status as a global center for exhibition activity.”
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