Study: Hong Kong’s exhibition industry generated US$6.8 billion in 2014
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.
Chairman of the HKECIA, Mr Stuart Bailey commented on the findings, “We welcome this Study and the results because, once again, it highlights just how important our industry is for Hong Kong, The study shows in great detail the many ways in which exhibitions fuel Hong Kong’s wider economy – for example by spinning off economic benefits and extensive workforce to supporting industries, and attracting high-spending international business visitors to the city.”