Macao's exhibition industry recorded a 200 percent increase from 2012 to 2016 and ranked as the most outstanding exhibition market in Asia, the Chinese special administrative region (SAR)'s trade promotion body said on Monday.
Quoting the 13th edition of annual report on the Trade Fair Industry in Asia issued by Global Association of the Exhibition Industry (UFI), Macao Trade and Investment Promotion Institute made the announcement.
According to the report, a total of 26 B2B trade fairs held in Macao were included in the UFI statistics. Revenues from exhibitions were estimated at around 53.55 million U.S. dollars in 2016, with 215,250 square meters of net spaces sold, showing a rise of 2.9 percent as compared to 2015.
The report also said Macao was one of the smallest trade fair markets with the shortest development history, as well as the one with the best performance in the region over the past five years.
When compared with the growth of the overall exhibition industry in Asia, Macao's net spaces sold grew from 72,500 square meters in 2012 to 215,250 square meters in 2016, showing an increase of almost 200 percent, and become the region with the largest growth in Asia.
The Trade and Investment Promotion Institute said that the SAR government is committed to promoting moderate economic diversification and plans to strengthen its efforts to foster the development of the convention and exhibition industry.
