GOVT SUBSIDISES EXHIBITORS

(To watch the full press conference with sign language interpretation, click here.)

Secretary for Commerce & Economic Development Algernon Yau said today that the Government expects the convention and exhibition industry to achieve or surpass pre-pandemic levels given that certain large-scale events have already returned to Hong Kong.

Mr Yau pointed out during a press conference this afternoon that throughout the second half of last year, 61 exhibitions were held in the city, 54 of which had been approved for a total of HK$265 million in government subsidies.

Apart from emphasising that the exhibitions had attracted some 80,000 exhibitors, including 30,000 from local organisations and 50,000 from overseas, he explained that they also attracted over 1.2 million visitors.

Mr Yau added that approval will be given for more exhibitions to be held in the city and the number of people visiting Hong Kong will increase accordingly.

He highlighted the Government's work in promoting large-scale conventions and exhibitions, stressing that such efforts will boost a mega events economy and consolidate Hong Kong’s status as an international city.

“According to past figures, the exhibition industry contributed to 2.1% of the total gross domestic product and the average expenditure of each overnight visitor of meetings, conventions and exhibitions is about HKD$7,200 per day, which is 23% higher than that of the normal overnight visitors," Mr Yau revealed.

Looking ahead, he said he is confident that these visitors’ spending power or the spending total will be very similar and will continue to contribute to the economy’s development in all different sectors including hotels, retail, food and beverage, etc.

“The economic influence (of overnight visitors of meetings, conventions and exhibitions) is much bigger than just normal (overnight visitors),” Mr Yau added.

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