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28 Feb 2008

AsiaWorld-Expo Management Limited Welcomes The Government's Budget Proposals for the Convention, Exhibition and Tourism Industry

AsiaWorld-Expo Management Limited warmly welcomes the positive measures outlined in the 2008-09 Budget by the Financial Secretary, which include stepping up overseas promotional efforts, providing adequate hotel facilities as well as hosting more mega international conventions and exhibitions.

The measures, which support the Policy Objective to enhance the appeal of Hong Kong as an international convention, exhibition and tourism capital, aim at attracting more high quality convention and exhibition projects that will bring high value-added business travellers to Hong Kong. The measures to provide more sites to build different types of hotels are also strongly supported by the AsiaWorld-Expo Management.

"We are very pleased with these positive moves by the Government to continue to work with our industry and its commitment to its long-term development for Hong Kong," said Mr Allen Ha, Chief Executive Officer of AsiaWorld-Expo Management Limited.

According to the Hong Kong Exhibition and Convention Industry Association (HKECIA), the exhibition industry contributes billions of dollars in economic benefits in terms of direct and indirect expenditures to the local economy every year, and the economic benefits are spread across other service industries and supporting sectors including hotels, food and beverage, retail, stand design and construction, and logistics and freight forwarding. The Association's annual exhibition survey showed that the industry enjoyed extraordinary growth in business in 2006 with a record growth of 50%. The robust growth resulted from the first full year of operation of AsiaWorld-Expo offering additional 70,000 square metres in 2006. Its ‘Economic Impact Study Report – 2006', which measured the economic impact of the exhibition industry for the 2006 calendar year, showed that Hong Kong's exhibition industry contributed around HK$26.4 billion in total expenditure to the Hong Kong economy, and generated 58,500 full-time equivalent jobs.

AsiaWorld-Expo's 70,000 square metres of exhibition space includes 10 ground-level, column-free exhibition halls for a wider diversity of new exhibitions. In its first two years of operation, it has played host to a good number of spectacular international trade shows. One of the examples is the ITU TELECOM WORLD 2006, recognised as the Olympics of the International Telecommunications industry. Another highlight is the world's largest dedicated commercial aviation and aerospace event, Asian Aerospace International Expo and Congress that was staged in Hong Kong in September 2007 for the first time. Other new exhibitions with new themes included building materials and construction equipment, environmental protection, furniture, sports equipment and sports apparel, pet accessory and aqua accessory and so on.

Apart from attracting new shows to Hong Kong, AsiaWorld-Expo has also opened up enormous opportunities for the growth of existing markets with expanding exhibitions which create an even larger critical mass and boast a higher appeal for local and international buyers. Highlights include the popular China Sourcing Fairs organised by Global Sources during the peak periods of April and October.

AsiaWorld-Expo is a public-private partnership between the Hong Kong SAR Government and a private sector consortium with the Government as the majority shareholder. In this respect, we will continue to work closely with the Government and the industry to facilitate the continuous growth of the Convention, Exhibition and Tourism industry and to make the most of the investment for the benefit of Hong Kong and the general public at large.

Media Contact

For media enquiries, please contact AsiaWorld-Expo Management Limited:

Kenneth Chan
Tel: 3606 8888
Fax: 3606 8889
Fiona Lau
Tel: 3606 8888
Fax: 3606 8889