Asian trade fair industry on growth course
For the first time, net space sold at Asian trade fairs surpassed 20 million net square metres, UFI reports. The research shows that 20.77 million square metres of space was sold by exhibition organisers to their clients in Asia in 2016 - up from 19.69 million square metres the year before.
Overall, that represents a year-on-year increase of 5.5 per cent. Of that total, 58 per cent was sold in China – or in terms of net space sold 12.0 million square metres. That is close to six times the space sold in Asia’s second largest trade fair market, Japan (2.06 million square metres). The Philippines was the fastest growing trade fair market in Asia in 2016 as space sold jumped by 9.6 per cent. Other Southeast Asian markets that outperformed the regional average included Vietnam (7.3 per cent) and Indonesia (5.8 per cent). China, Asia’s largest trade fair market, was the second fastest growing market last year posting growth of 7.7 per cent in 2016.
India was close behind China, recording a growth rate of 7.4 per cent. Most other large markets recorded much more modest growth in 2016. Net space sold in Thailand expanded by 3.8 per cent and Australia by 3.1 per cent. Korea and Taiwan grew by 2.7 per cent and 2.3 per cent respectively. And at the bottom end of the table, Japan’s market expanded by just 0.5 per cent and Hong Kong recorded a small contraction of 1.8 per cent. By the end of 2017, venue capacity in Asia’s venue capacity will be more than 8.1 million square metres and the number of venues operating in Asia will reach 218 – more than double the 100 venues that were in operation in 2004 when the first edition of this report was published. In 2018, that figure will rise significantly again after the opening of another mega venue in Shenzhen, China eventually adding 500,000 square metres of gross indoor capacity to the regional total.