Shanghai’s MICE economy is developing at a fast pace, with more than 1,000 exhibitions held last year, up 90 percent over the last decade.
According to a report released Wednesday at the Global Exhibition CEO Shanghai Summit 2019, Shanghai’s exhibition-related industries generated over 140 billion yuan (about 20.4 billion U.S. dollars) of revenue last year, and the city’s nine exhibition centers attracted over 20 million exhibitors and visitors.
Of those exhibitions, a total of 300 were internationals shows covering fields of cars, food processing, equipment manufacturing, etc.
Sang Jingmin, president of Shanghai Convention and Exhibition Industries Association (SCEIA), said by the end of 2018, the top 10 global exhibition groups had set up sole-funded companies or joint ventures in Shanghai.
According to the report, Shanghai’s exhibition-related industries are expected to create revenue of more than 160 billion yuan by 2020.
The report was issued by several organizations including SCEIA and Shanghai Business Development Research Center.