Hong Kong exhibition industry rakes in US$6.8 billion in 2014: HKECIA

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Hong Kong

HONG Kong’s exhibition industry contributed HK$52.9 billion (US$6.8 billion) to the economy in 2014, up 29 per cent from 2012, according to a study commissioned by the Hong Kong Exhibition & Convention Industry Association (HKECIA).

The Economic Impact Study, which takes into account direct and indirect expenditure, found that the industry accounted for 2.3 per cent of the city’s total GDP for the calendar year.

It further revealed that the industry provided around 83,500 full-time jobs – a 9.6 per cent increase from 2012 – both within the industry and in supporting sectors including hotel, F&B, retail, stand design and construction, and logistics and freight forwarding.

As well, the industry contributed fiscal benefits (i.e. benefits arising from various government taxes associated with exhibition activities and participants) amounting to HK$2.1 billion.

Stuart Bailey, chairman of HKECIA, said: “The study shows the many ways in which exhibitions fuel Hong Kong’s wider economy – for example by spinning off economic benefits and extensive workforce to supporting industries, and attracting high-spending international business visitors to the city.

“(It also) reveals that overseas exhibition exhibitors and visitors continue to spend more than international overnight tourists,” he added.

According to the report, leisure travellers spend an average of HK$7,960 per visit. This is compared to foreign exhibition visitors who spend on average HK$12,776 per visit and international exhibitors who fork out HK$12,829 on average, a 61 per cent increase from their leisure counterparts.

Given these benefits, he urged: “I hope our policymakers will take the findings of this study into account as they plan for the infrastructure and facilities that Hong Kong needs in the years to come.”

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