The Macau SAR saw some 1,000 conventions and exhibitions in 2023, achieving the city’s set target.
According to data from the Macao Trade and Investment Promotion Institute’s (IPIM) “One-stop Service” for MICE Bidding and Support, there were 44 projects throughout the year. These projects focused on four major industries, representing approximately 30% year-on-year growth.
Meanwhile, according to data from the Statistics and Census Service, during the third quarter of 2023 the average expenditure per exhibition visitor was MOP5,072. This expenditure is 1.14 times higher than the average expenditure of a general tourist to Macau.
The high-spending power of exhibition participants visiting the city can stimulate the development of related industries, such as hotels, restaurants, retailers and logistics, to the benefit of various enterprises, including small- and medium-sized businesses.
In 2023, IPIM also enabled nearly 6,000 exhibition visitors to explore and purchase throughout Macau, driving local community economies.
The number of MICE (Meetings, Incentives, Conferences, and Exhibitions) events is projected to increase by 50% year-on-year, up to 1,500 in 2024, as efforts to return to pre-pandemic levels intensify.
IPIM has previously noted that the industry has experienced growing demand for venue hire and other site-specific services in 2023.
This comes as the sector has faced a severe downturn for the past three years during the onset of the pandemic, due to a halt in activities and border closures. Staff Reporter
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