Venetian makes Hong Kong nervous

An interesting story in today's South China Morning Post in Hong Kong regarding the new convention & exhibition facilities in Macau. The newspaper's editors make great sport of predicting the doom of most of the city's key industries so the editorial line chosen is no surprise:

Trade fair coup for Venetian Macau: Casino-hotel to host the mainland's top convention organiser in 2007, putting a dent in HK's exhibition business "The biggest organiser of trade fairs and conventions on the mainland will inaugurate more than 1.8 million square feet of exhibition space at the Venetian Macau casino and hotel in 2007, dealing a major blow to Hong Kong's ambitions of becoming the convention hub for China and the region." [Subscription required to access more]

The nervousness of the industry itself, however, is shown in a quotation from Daniel Cheung, vice chairman of the industry association HKECIA who says, according to the SCMP:

the selection of Macau by the council was embarrassing for Hong Kong and warned that a successful showing in 2007 would make it more difficult for Hong Kong to attract mainland exhibition business.

With industry leaders that nervous, the Macanese/Las Vegas might be in with half a chance. However, we think the shows there will be largely attractive to Mainland Chinese buyers and, therefore, quite different to those which succeed in Hong Kong. There is plenty of room for all players in this most dynamic part of the China economy and we say "roll on" to the competition.