Hong Kong trade show organiser urges government to focus funding on international events The organiser of one of Hong Kong’s largest trade shows has called on authorities to prioritise funding for international events, citing their potential to attract business travellers and bolster the tourism sector. Duncan Cheung Shui-kwai, ComAsia Limited’s director, also said on Monday the city’s exhibition and trade show industry was still struggling following the pandemic due to reasons such as geopolitical tensions and the lack of long-haul flights. He added that the Middle East would not be able to replace traditional European and North American markets. ComAsia, a major trade exhibition company, had founded and organised for the past three decades Hong Kong’s annual Mega Show, a sourcing show for made-in-Asia products every October. “We hope the government can allocate the HK$500 million (US$64 million) more effectively, focusing on international exhibitions that truly benefit Hong Kong’s economy,” Cheung said. He was referring to the “Incentive Scheme for Recurrent Exhibitions”, a government subsidy for exhibition organisers holding multiple editions of the same event, in an attempt to revitalise Hong Kong’s meetings, incentives, conferences, and exhibitions (MICE) industry following the pandemic. Chief Executive John Lee Ka-chiu announced in his policy address on Wednesday that he would be injecting an additional HK$500 million into the fund, which was set to last till June 2026. “We urge the government to extend financial support beyond 2026, as international exhibitions require substantial planning and resources to attract foreign participants,” Cheung added. He believed the government should focus the amount on business-to-business, or B2B, events as they attracted international buyers and exhibitors who were more likely to engage in substantial transactions. He also pointed to B2B crowds that tended to stay longer in the city, contributing to increased hotel occupancy and spending in local businesses, unlike business-to-consumer events like the annual book fair, which could attract more transient visitors. Cheung said the additional government funding would allow organisers, such as himself, to attract exhibitors from abroad by providing free or discounted hotel accommodation and long-haul flights to the city, which remained expensive as certain routes had yet to fully recover. He pointed to geopolitical tensions – such as Sino-US tensions, conflicts in the Middle East and the ongoing Russia-Ukraine war – as one of the major reasons Hong Kong’s international fairs were struggling to recover given the high tariffs and concerns about travel or logistics. “I think we have dropped about 20 per cent to nearly 30 per cent, meaning that both international exhibitors and international attendees have decreased,” Cheung said, comparing against pre-pandemic numbers. His view is contrary to that of the government, which has been touting Hong Kong’s MICE industry as the fastest recovering visitor segment. The Hong Kong Tourism Board said the city received about 21 million visitors throughout the first half of the year, 700,000 of which were MICE arrivals. The amount was around 80 per cent of the level recorded for the same period in 2018. Asked whether the government’s push for greater business dealings with the Middle East was feasible, Cheung said it would be challenging for that market to compensate for those lost in Europe and North America. “I don’t think the Middle Eastern market can fully replace the traditional European and US markets, as Hong Kong is not a halal country like Malaysia or Indonesia, and we lack the necessary infrastructure to fully cater to that demographic,” he said. Cheung said his fair was also making efforts in accommodating Middle Eastern visitors, such as providing prayer rooms and making halal meals available at the venue. But for Hong Kong to effectively attract and serve Middle Eastern buyers, significant improvements in facilities and services would be necessary, he said. https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3283278/hong-kong-trade-show-organiser-urges-government-focus-funding-international-events (ICE HONG KONG)

Fonte notizia: South China Morning Post