AsiaWorld-Expo Brings in More Than HK$13.4 Billion to Hong Kong Economy in 2010

September 19, 2011

Exhibition and conference events held at AsiaWorld-Expo contributed approximately HK$13.4 billion to the local economy in 2010, according to the Economic Contribution Assessment Report conducted by professional services firm KPMG Transaction Advisory Services Limited.

The results were a 25-percent increase, compared with 2009, and translated into significant job opportunities, with more than 26,000 full-time jobs generated by AsiaWorld-Expo last year. 

“The report’s findings are powerful confirmation that AsiaWorld-Expo plays a valuable role in the success of Hong Kong’s MICE industry,” said Allen Ha, CEO of AsiaWorld-Expo Management Limited.

Events held at the venue provide income and jobs for the MICE industry, as well as other service industries and supporting sectors including retail; hotel and leisure; food and beverage; stand design and construction; and logistics and freight forwarding. 

There were several key findings from the report:

Total expenditure effects from exhibitions and conferences at AsiaWorld-Expo have grown steadily since 2006, reaching the peak at HK$13.4 billion in 2010, up 25 percent, compared with 2009.

During the past five years, exhibitions and conferences at AsiaWorld-Expo have contributed a total expenditure of around HK$54.2 billion to the city’s economy, maintaining a Compound Annual Growth Rate (CAGR) of 6.5 percent. 

Direct employment from AsiaWorld-Expo and event organizers accounted for around 3 percent of total Full Time Equivalent employment, with the remaining 97 percent provided across various supporting sectors.  Of particular note, around 65 percent of the latter figure was generated in the retail, hotel and food and beverage sectors.

Visitor profile has seen a shift in the mix of international visitors from 2006 to 2010. An increasing percentage of international exhibition visitors are from Mainland China, with more buyers seeking to source from abroad.

Mainland China exhibition visitors typically have amongst the highest per visit spend of all regions (HK$16,761), around 110 percent of the average in 2010.

Regarding the industry outlook, increasing connectivity, such as the development of Hong Kong-Zhuhai-Macao Bridge among others, as well as government support of Hong Kong and the Pearl River Delta Region are expected to drive even more growth and attract more visitors from Mainland China, while sourcing activities from Mainland China also are expected to remain strong. 

The “Outline of the 12th Five-Year Plan for the National Economic and Social Development of the People’s Republic of China” announced by the Chinese Central Government earlier this year envisions the creation of a dynamic Pearl River Delta (PRD) metropolis that will become a powerful engine of national and global economic growth. 

Served by a transportation system linking Hong Kong, Macau and the PRD in a region-wide commute of one hour, AsiaWorld-Expo will enjoy a direct catchment of more than 100 million people, according to venue officials.

“Given its healthy growth momentum and the set of unparalleled opportunities ahead, the venue is poised for growth in the next five years,” Ha said.

He added, “Riding on the enormous opportunities as presented by China’s 12th 5-Year Plan as well as AsiaWorld-Expo’s unique geographical location in the PRD region, we will, along with our MICE partners, embark on a series of promotional roadshows around the cities in the one-hour metropolis radius of PRD to promote our MICE offerings as part of our business strategy in the years to come.” 

Add new comment

Partner Voices
Less than six months ago, Lisa Messina joined the Las Vegas Convention and Visitors Authority (LVCVA) as the first-ever chief sales officer after leading the sales team at Caesars Entertainment. A 12-year Las Vegas resident, Messina is a graduate of Cornell University’s School of Hotel Administration and serves on MPI International’s board of directors. TSNN had a chance to catch up with this dynamic leader and talk to her about her vision for the new role, current shifts in the trade show industry, creating more diversity and equity within the organization, and advice to future female leaders. Lisa Messina, Chief Sales Officer, LVCVA With Las Vegas becoming The Greatest Arena on EarthTM, what are some of the things you’re most excited about in your role? Our team was at The Big Game’s handoff ceremony earlier this month, and I couldn’t help but think, “We’re going to crush it next year!”  These high-profile events and venues not only drive excitement, but also provide unmatched opportunities for event planners. Allegiant Stadium hosts events from 10 to 65,000 people and offers on-field experiences. Formula 1 Grand Prix will take place in Las Vegas in November, after the year-one F1 race, the four-story paddock building will be available for buyouts and will also offer daily ride-along experiences that will be available for groups. And, of course, the MSG Sphere officially announced that it will open in September, ahead of schedule, with a U2 residency. It’s going to be the most technologically advanced venue as far as lighting, sound, feel, and even scent, and it will be available for buyouts and next-level sponsorships inside and outside. There’s no ceiling to what you can do when you’re doing events in Las Vegas.  Allegiant Stadium As the trade show and convention business returns to the pre-pandemic levels, what shifts are you noticing and how do you think they will impact the industry going forward? Our trade show organizers are very focused on driving customer experience. Most of our organizers are reporting stronger exhibitor numbers and increased numbers of new exhibitors, with trade shows proving to be almost or above 2019 levels. Now our organizers are really doubling down on driving attendance and focusing on the data to provide that individualized, customized experience to help attendees meet their goals and get the best value. Some companies continue to be cautiously optimistic with their organizational spend when it comes to sending attendees, but I think it will continue to improve. As the U.S. Travel Association makes more progress on the U.S. visa situation, we also expect a growing influx of international attendees. What are some innovative ways the LVCVA helps trade show and convention organizers deliver the most value for their events? We focus on customer experience in the same way that trade show organizers are thinking about it. We got rave reviews with the West Hall Expansion of the Las Vegas Convention Center (LVCC), so over the next two years, we will be renovating the North and the Central halls, which will include not just the same look and feel, but also the digital experiences that can be leveraged for branding and sponsorship opportunities.  Vegas Loop, the underground transportation system designed by The Boring Company, is also a way we have enhanced the customer experience. Vegas Loop at the LVCC has transported more than 900,000 convention attendees across the campus since its 2021 launch. Last summer, Resorts World and The Boring Company opened the first resort stop at the Resorts World Las Vegas , with plans to expand throughout the resort corridor, including downtown Las Vegas, Allegiant Stadium and Harry Reid International Airport. The LVCVA also purchased the Las Vegas Monorail in 2020, the 3.9-mile-long elevated transportation system that connects eight resorts directly to the convention center campus. This is the only rail system in the world that integrates fares directly into show badges and registration. For trade show organizers, these transportation options mean saving time, money and effort when it comes to moving groups from the hotels to LVCC and around the city. Also, the more we can focus on building the infrastructure around the convention center, the more it supports the customer experience and ultimately supports our trade show organizers. Scheduled to debut in Q4, Fontainebleau Las Vegas will offer 3,700 hotel rooms and 550,000 square feet of meeting and convention space next to LVCC.  What are some of the plans for advancing DEI (diversity, equity and inclusion) within your organization? We’re currently partnering with instead of working with a leading consulting firm, to lay the foundation and create a solid DEI plan and be the leader when it comes to DEI initiatives. The heart of that journey with the consulting firm is also talking to our customers about their strategic approaches to DEI and driving innovation in this space.  What are your favorite ways to recharge? My husband and I have an RV and we’re outdoorsy people. So, while we have over 150,000 world-class hotel rooms and renowned restaurants right outside our doorstep, one of my favorite things to do is get out to Red Rock Canyon, the Valley of Fire, and Lake Mead. Five of the top national parks are within a three-hour drive from Las Vegas, so there’s a lot you can do. We love balancing the energy of Las Vegas with nature, and we’re noticing that a lot of attendees add activities off the Strip when they come here.  Valley of Fire What advice would you give to women following leadership paths in destination marketing? I think it’s about being laser-focused on what you want to accomplish; building a team around you that lifts you and helps you achieve your goals; and being humble and realizing that you do it as a group. No one gets this done alone. Thankfully, there are a lot of women in leadership in this organization, in our customers’ organizations, and in this city that we can be really proud of. We’re a formidable force that is making things happen.   This interview has been edited and condensed. This article is exclusively sponsored by the Las Vegas Convention & Visitors Authority. For more information, visit HERE.