Macau Trade and Investment Promotion Institute (IPIM) President Vincent U U Sang told reporters yesterday that Macau’s number of conferences and exhibitions increased by 1.1 times in the first quarter of this year compared with the same period last year, of which the number of exhibitions recovered to the level of 2019, and even increased “slightly”, while the total number of conferences has yet to recover to its pre-pandemic level.
U said that Macau’s conferences and exhibition industry continues to recover from the COVID-19 pandemic which started to hit the city in early 2020, adding that the current decline in the overall number of conferences and exhibitions is mainly due to conference activities with relatively short lead times.
U made the remarks on the sidelines of the opening ceremony of the two-day 14th International Infrastructure Investment and Construction Forum (IIICF) at The Venetian Macao Cotai Expo, which was also attended by Secretary for Economy and Finance Lei Wai Nong, Foreign Ministry Commissioner Liu Xianfa, and Vice Minister of Commerce Guo Tingting.
U said he was confident that the second, third and fourth quarters of this year would see “significant” growth compared to the same period last year, and that the conferences and exhibitions would be concentrated in the fourth quarter, forecasting that there will be a “significant” increase in the number of conferences and exhibitions in the second half of this year.
U also said that IPIM is already preparing for the major exhibitions to be held in 2025.
U underlined that the conferences and exhibition industry will not only increase in quantity, but also improve in quality and structure.
The holding of conferences and exhibitions in Macau will help boost the city’s economy and attract high-spending tourists, according to U, who took the ongoing annual forum as an example, saying he estimated that the IIICF exhibitors have invested about 10 million patacas in setting up the forum’s venues including its first-ever designated exhibition hall, with the overall area increased by 1.5 times from the last, which was “effectively” promoting the development of the conference, exhibition, logistics and other industries.
According to U, the exhibition showcases architectural equipment, with the largest one weighing more than two tonnes, in addition to architectural models worth more than “six figures in patacas”.
When the forum was held in the third quarter of last year, the forum attendees’ average spending was 18,000 patacas, which was much higher than the average 3,200 patacas other tourists visiting the city spent during the same period, U said.
Macau Trade and Investment Promotion Institute (IPIM) President Vincent U U Sang speaks to reporters on the sidelines of yesterday’s opening ceremony of the 14th International Infrastructure Investment and Construction Forum (IIICF) at The Venetian Macao Cotai Expo. – Photo: MPDG
