To build or not to build a mega venue is the question Singapore’s events industry is pondering about, in light of the biennial Food & Hotel Asia (FHA) expanding beyond a single event venue and requiring almost 150,000m2 of space in 2018.
Although Lindy Wee, CEO, UBM SES, expressed her preference for a single large venue for a tradeshow and that FHA would need “between 20,000m2 and 30,000m2 of extra space every year”, she also opined that “it only makes sense (for Singapore) to invest in a new larger venue if it can be filled every month”.
Mark Cochrane
Edward Liu, group managing director, Conference & Exhibition Management Services, opined there should be sufficient capacity “for the foreseeable future” and an industry consultant noted if there is 70 per cent utilisation, then it is a “fair moment to start looking at infrastructure expansion”.
Singapore may not need a mega facility and and can continue to grow by aiming for niche B2B tradeshows combined with high-end conferences, according to Mark Cochrane, UFI The Global Association of the Exhibition Industry’s regional manager.
Cochrane pointed out: “FHA is by far the largest exhibition in Singapore. No other exhibitions in Singapore have grown as large. FHA’s organisers could consider ‘annualising’ the biennial event, running the food theme one year, and hospitality the next. This way, the shows can continue to expand as there will be sufficient space in existing venues, and the annual events will help fend off competition.”
UFI’s latest figures identified 72 trade fairs in Singapore in 2015, which occupied an estimated 343,750m2 of net space sold. Singapore was ranked ninth in Asia and second in South-east Asia behind Thailand.
In addition, an industry veteran told TTGmice that there is no critical mass in any industry in Singapore to sustain events that are 100,000m2 or larger.
“For Singapore to maintain its pole position in South-east Asia, there needs to be consolidation of four to five key players to form Singapore Inc. to build up the ecosystem to make Singapore an events hub, and convince Temasek Holdings (Singapore-based investment company) to acquire one or two global companies in the UK and US which own 10 to 20 global events, and in alternate years bring them to Singapore.
“There needs to be better understanding of the dynamics of the trade show business,” the veteran concluded.
