Hong Kong allots $1.02b for the exhibition and convention industry

Organisers can get 100% venue rental costs for events at the HKCEC.

Hong Kong is seeking to revitalise its reputation as the event capital of Asia, with the government allocating a $1.02b (US$130m) subsidy for the exhibition and convention industry, an announcement revealed.

The scheme will subsidise event organisers with a 100% venue rental cost for exhibitions and international conventions held at the Hong Kong Convention and Exhibition Centre (HKCEC) and another major venue in the city for the next 12 months. The exhibition must have over 400 participants with at least 50% participants coming from outside Hong Kong.

Further, exhibitors and conference delegates participating in exhibitions and major conventions with over 400 participants that is organised by the Hong Kong Trade Development Council will be funded 50% of their participation fee (subject to a cap of $10,000 or US$1,280) for a 12-month period.

No implementation date has been announced yet.

In a statement, the Hong Kong Convention and Exhibition Centre (Management) Limited (HML), the professional private management company responsible for the daily operation of the HKCEC, welcomed the new measures.

“HML appreciates the financial support from the HKSAR Government, which serves as a timely relief measure for the industry that has been greatly affected by the public activities in the second half of 2019 and the recent outbreak of the novel coronavirus (Covid-19),” said Monica Lee-Müller, HML’s Managing Director..

“We are confident that the measures will encourage organisers with postponed events to confirm their new schedules, and new organisers to confirm their plans,” she added.

Since the outbreak of the novel coronavirus, a few exhibitions and conferences at the HKCEC originally scheduled in February to April 2020 have been postponed or cancelled, HML noted in a press statement.