The 13th annual report on the Trade Fair Industry in Asia featured the 26 business-to-business trade fairs held in Macau in 2016, with revenue from these exhibitions estimated at around USD53.55 million.
Published by The Global Association of the Exhibition Industry (UFI), the annual report analyzes the development of the trade fair market in Asia in 2016.
The trade fairs included in UFI statistics also showed that 215,250 square meters of net spaces were sold, amounting to a rise of 2.9 percent compared to 2015.
According to the report, Macau is one of the youngest trade fair markets and is also one of the smallest in Asia. However, it demonstrated the best regional performance and largest growth in Asia over the past five years.
Comparing the overall growth of “Meetings, Incentive Travel, Conventions and Exhibitions” (MICE) industry in Asia, Macau’s net spaces sold grew from 72,500 square meters in 2012 to 215,250m2 in 2016, an increase of almost 200 percent.
Although the economy has been affected by the external economic environment, the net exhibition spaces sold continued to grow, with an average revenue per exhibition recorded at approximately USD2.1 million.
According to the Macao Trade and Investment Promotion Institute (IPIM), the report also indicated that government support for the MICE industry, along with the ancillary facilities, contributed to the stable development of the region’s exhibition industry.
For instance, the Hong Kong-Zhuhai-Macau Bridge, set to open at the end of this year, and the gradual expansion of the flight network of the Macau International Airport, will significantly improve regional transportation.
It is predicted that the exhibition industry will maintain an average growth rate of 5 percent in the region over the next two to three years.
