News this week: The Hong Kong Exhibition and Convention Industry Association (HKECIA) reported results of its biennial economic impact study report.
Compiled by KPMG Transaction Advisory Services, the report shows Hong Kong’s exhibition industry contributed US$4.6 billion towards the local economy in 2010, compared with US$3.9 billion in 2008, or equivalent to 2.1% of Hong Kong’s total GDP.
In terms of expenditure by exhibition visitors, US$1.3 billion was recorded in 2010, with 90% contributed by international visitors. The food and beverage, retail and hotel sectors were reportedly the largest recipients of direct visitor expenditure, accounting for more than 74%, or US$936 million. Business-related expenditure amounted to US$1.04 billion in 2010, a compound annual growth rate of 22% from 2008.
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