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Hong Kong pumps $130 million in exhibition and convention industry hurt by coronavirus

Hong Kong pumps $130 million in exhibition and convention industry hurt by coronavirus
Hong Kong pumps $130 million in exhibition and convention industry hurt by coronavirus

Hong Kong Convention and Exhibition Centre (Management) Limited, the professional private management company responsible for the daily operation of the Hong Kong Convention and Exhibition Centre, announced the latest revitalization measures initiated by the Hong Kong Special Administrative Region (HKSAR) Government to support the exhibition and convention industry.

A subsidy of over HK$1,020 million (US$130 million) will be injected to subsidize exhibition and convention organizers and participants, in order to reinvigorate Hong Kong’s reputation as the event capital of Asia.

Ms Monica Lee-Müller, HML’s Managing Director, said, “HML appreciates the financial support from the HKSAR Government, which serves as a timely relief measure for the industry that has been greatly affected by the public activities in the second half of 2019 and the recent outbreak of the novel coronavirus (Covid-19). It recognises the significant contribution of the exhibition and convention industry to the economy of Hong Kong, and sends a positive message to international event organisers that Hong Kong welcomes their return. We are confident that the measures will encourage organisers with postponed events to confirm their new schedules, and new organisers to confirm their plans.”

The scheme will subsidise event organizers with 100% venue rental cost, for all exhibitions and international conventions (with over 400 participants and at least 50% from outside of Hong Kong) held at the Hong Kong Convention and Exhibition Centre and another major venue in Hong Kong for 12 months. The implementation date of the scheme will be announced soon. This measure will certainly ease the financial pressure of event organisers, many of which have spent extra cost on marketing and logistics to retain exhibitors and ensure smooth operation of their events.

Exhibitors and conference delegates participating in exhibitions and major conventions (with over 400 participants) organised by the Hong Kong Trade Development Council will be funded 50% of their participation fee (subject to a cap of HK$10,000 (US$1,280)) for a 12-month period.

Since the outbreak of the novel coronavirus, a few exhibitions and conferences at the HKCEC originally scheduled in February to April 2020 have been postponed or cancelled.  HML has been working closely with event organisers and exercised flexibility for rescheduling as much as possible.   

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Chief Assignment editor is OlegSziakov