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The past 18 months have been very challenging for the global economy as a result of the credit crunch in late 2008. But perhaps you've heard of the expression “when the going gets tough, the tough get going” – and that sums up the local exhibition industry very well.
Economic Impact Study Report – 2008, conducted by professional services firm KPMG Transaction Advisory Services Limited and commissioned by the Hong Kong Exhibition & Convention Industry Association, highlights the fact that in 2008 the industry contributed some HK$30 billion to the local economy, an increase of 14% compared to 2006, and generated employment for 61,000 FTE (full time equivalent) employees. It also raised HK$1 billion in taxes.
Economic Impact Study Report – 2008, conducted by professional services firm KPMG Transaction Advisory Services Limited and commissioned by the Hong Kong Exhibition & Convention Industry Association, highlights the fact that in 2008 the industry contributed some HK$30 billion to the local economy, an increase of 14% compared to 2006, and generated employment for 61,000 FTE (full time equivalent) employees. It also raised HK$1 billion in taxes.
| These are the key findings: | |
| • | Strong sourcing activities and consumer demand in mainland China and other Asian markets have continued to fuel growth of the industry; there has been no noticeable impact of competition from the mainland or other regional centres |
| • | Hong Kong should also develop itself as an import platform for the Chinese market by targeting Chinese buyers |
| • | B2C shows targeting mainland visitors will become increasingly important |
