An economic impact study, commissioned by the Hong Kong Exhibition & Convention Industry Association (HKECIA), concludes that the exhibition industry contributed HK$52.9 billion (US$6.8 billion) to Hong Kong’s economy in terms of expenditure in 2014, which was equivalent to 2.3% of the city’s total GDP. That represents a 29% increase from the previous study covering 2012. According to the study, the industry’s compound annual growth rate was 13.9%.
International exhibition visitors and exhibitors reportedly spent on average 61% more than general overnight tourists. Visitor expenditure remained the largest expenditure segment at HK$16.1 billion (US$2.1 billion). Business-related (exhibition organisers and exhibitors) expenditure amounted to HK$10.4 billion (US$1.3 billion). The report also revealed that the industry generated the equivalent of 83,500 full-time jobs in the exhibition industry and other supporting sectors in 2014.
Source: Business Strategies Group; Hong Kong – www.bsgasia.com