12 Oct 2015
KPMG Latest Study: AWE makes a breakthrough - HK$27.2 billion Economic Contribution – Doubled in 5 Years
Entering into its 10th anniversary, AsiaWorld-Expo (AWE) held the press conference at United Conference
Centre today (12 Oct) to announce the results of AWE Economic Contribution Assessment Report (the “Report”) conducted by KPMG. The Report estimated that AWE will contribute up to HK$27.2 billion (which is more than a double of the figure in 2010) and support 44,700 jobs in the year of 2015/16. AWE’s significant economic contribution benefits Hong Kong as well as the tourism and retail industries.
AWE organised numerous MICE EXPOtainment events in the past years. The long-awaited extravaganza, Madonna’s Hong Kong debut – Rebel Heart Tour, staging at AWE next February signifies the important position of Hong Kong as an international EXPOtainment hub. The surging business activities of AWE have enabled a double-digit percentage business growth annually for six consecutive years. In 2015/16, more than 300 major events will be held at AWE. 40 of them are mega events housing over 8,000 visitors. The number of days with full capacity will reach a new high of more than 60 days, hosting more than 4 million visitors throughout the year.
AWE contributes 9% of Lantau’s GDP: Supporting Lantau’s Four Development Directions
The Report also shows that AWE accounts for 9% of Lantau’s GDP in 2014/15, and the said figure will be increased to 21% if the aviation industry is excluded from the calculation. Demand on AWE’s facilities and services will grow with the completion of various infrastructure developments in Lantau in the near future. Mr. Allen Ha, Chief Executive Officer of AsiaWorld-Expo Management Limited and Lantau Development Advisory Committee (LanDAC) Member said, “The surging result of AWE will support the four development directions of Lantau, including the economic and housing developments along the Northern Lantau Corridor with new supply of commercial, retail, and hotel space; North-eastern Lantau Node for Leisure, Entertainment and Tourism; East Lantau Metropolis with a Core Business District; and predominant part of Lantau for conservation, leisure, cultural and green tourism.”
AWE has been an active contributor in community development. The company has been actively promoting the social mobility of youths and under-privileged families. It also facilitates the creation of “Human Resources Hub” for Lantau. AWE now offers approximately 1,000 part-time posts to local job seekers in Tung Chung. AWE also participated in the “Youth-up” Development Program organised by the Lantau Development Alliance (LaDA) to provide vocational training to youngsters in the community.
Dare to Innovate: “Encore AWEsome Project” to attract High-Spending AWE MICE Visitors to Re-visit Hong Kong
AWE also announced that it will collaborate with the tourism industry to launch the “Encore AWEsome Project” (the “Encore Project”), aiming to attract AWE MICE visitors (such as overseas exhibitors and buyers of jewellery show, family tourists of SAT exam etc) to re-visit the city , so as to bolster the struggling tourism trade. AWE is cooperating with China Travel Service (Hong Kong) Limited to promote the “Encore AWEsome EXPOtainment Travel Package”. It includes AWE international super star concert tickets, such as Madonna, CNBLUE, etc., five-star hotel accommodation, Michelin or HK-style feasts, and also admission tickets of local famous tourist spots. The package costing HK$4,888 and up aims to attract more high spending AWE MICE visitors to revisit the city.
“Through the ‘Encore AWEsome Project’, we hope to further enhance our economic contribution to Hong Kong beyond the HK$27.2 billion. We expect that the Project has the potential to attract additional economic contribution of hundreds of million every year. Let’s join together with the tourism industry in creating win-win situations amid sound of ‘Encore’” said Mr. Allen Ha.
Please kindly find attached highlights of the press conference today:
AWE Economic Contribution Assessment Report
KPMG Simon Booker presents the report