UFI says Macau achieved the most in Asia’s MICE market

The Union des Foires Internationales (UFI) recently issued the “Trade Fair Industry in Asia–14th Edition”, a document that profiles the development of the Asian Meetings, Incentives, Conferences and Exhibitions (MICE) industry in 2017. Twenty-six business-to-business (B2B) exhibitions that took place in Macau in 2017 were included in the UFI statistics.

It was mentioned in the 14th Trade Fair Industry in Asia that Macau is one of the youngest and smallest MICE markets in Asia, but has achieved the most in the MICE market in Asia over the past five years.

Net sales of exhibition space in Macau rose from 143,000 square meters in 2013 to 217,500 squares meters in 2017, representing an increase of approximately 52.1 percent, which is the highest growth in Asia.

According to the report, each professional exhibition recorded an average revenue of approximately USD2.1 million, thus indicating that Macau’s MICE market surpassed the overall economic performance.

“The exhibition industry is an important part of the MICE industry. In recent years, with active co-operation and exchanges between the government and the MICE industry, local exhibition brands have continued to develop.

Seven local exhibition brands have been recognized by UFI, with industries covering areas such as commerce and trade, environmental protection, automobiles, yachts and aviation, according to a statement released by the Macao Trade and Investment Promotion Institute (IPIM). 

“Meanwhile, [the Macau government] will further spread the influence of the MICE industry and its development to surrounding industries and community-based merchants while promoting economic diversity and helping Macau increase its flexibility,” IPIM says in the statement.

According to the report, the exhibition industry recorded an income of nearly USD54 million, and sales of net exhibition space increased by more than 50 percent compared to the figure from five years earlier.

IPIM became a UFI member in October 2005, and since that time it has actively participated in events organized by the association.