In the first quarter of this year, 307 conventions and exhibitions were held in Macao, representing a year-on-year increase of 31.2%.
The “Global Exhibitions Day” was recently held in Macao. The event focused on promoting industry progress and economic growth, achieving sustainable development, and strengthening connections and exchanges, the event also reviewed the achievements of Macao’s MICE industry in many aspects in recent years, including a local industry leader being elected as the vice chairman of a special committee in the Global Association of the Exhibition Industry (UFI) in 2023, as well as the appointment of another local MICE professional as the Vice President of the Asia-Pacific Region by the International Congress and Convention Association (ICCA).
The Appointment of Macao MICE Industry Leaders Is a Recognition for Macao’s MICE Industry
The appointment of a local MICE industry leader by the authoritative international MICE organisation, is a recognition and affirmation of Macao’s MICE industry and enhances Macao’s presence as an international metropolis.
Set up in 2016 by the Global Association of the Exhibition Industry (UFI) and the International Association of Exhibitions and Events (IAEE), Global Exhibitions Day (GED) is held annually to enhance visibility of the exhibition industry on a global scale. In recent years, it has seen activities from industry players in countries and regions all over the world. The significance of the GED is to celebrate the achievements of the global MICE industry and to highlight its contribution to economic development.
Strong Recovery in MICE Industry in First Quarter This Year Boosts of Non-gaming Revenue
In the first quarter of 2024, 307 conventions and exhibitions were held in Macao, representing a year-on-year increase of 31.2%. And the proportions of the overseas exhibitors and professional visitors increased significantly by 32.2 percent and 39.5 percent respectively, compared with the same period last year. The conventions and exhibitions held in Macao led to about MOP 900 million non-gaming revenue, an increase of over 50% from the same period in 2023.
The per capita consumption of MICE business visitors in the first quarter is MOP 5,148, a year-on-year increase of 18.2%, which is more than twice the per capita consumption of general visitors (MOP 2,293). Hence, it can be seen that the MICE industry can constantly drive the development of other related industries, and it is also an important driving force in promoting the diversified development for Macao’s economy.
In addition, IPIM continues to co-operate with the MICE industry to attract more “1+4” industry-related MICE events to be held in Macao. At the same time, IPIM and the Economic Development Bureau of the Guangdong-Macao In-Depth Co-operation Zone in Hengqin will keep on participating in domestic and overseas MICE activities under the brand of “MICE² Macao x Hengqin”, to jointly promote the Macao-Hengqin MICE image and the new “Multi-venue Event” pattern, in order to promote the Macao-Hengqin MICE industry to attract more potential international projects to these two regions, and support the development of the major industries through the “MICE + Industry” pattern.
IPIM and the Industry Jointly Promote the Macao-Hengqin MICE Sector for the Diversified Development of Economy
After years of development, the MICE industry in Macao has made remarkable progress. Facing the new market trend and new environment, the Macao Trade and Investment Promotion Institute (IPIM) are employing new measures, together with the MICE industry, to enhance the value of Macao’s MICE sector, including promoting intensified cross-sectoral and cross-regional co-operation through the “Industry + MICE” pattern, and to strengthen the international, professional and market-oriented development of MICE industry.
At the same time, Macao-Hengqin co-operation will be strengthened in the promotion of the “MICE² Macao x Hengqin” brand at home and abroad, in order to promote the Macao-Hengqin MICE industry to attract more international potential projects to these two regions, and support the development of the major industries through the “MICE + industry” pattern, which will enhance Macao’s status and expand its brand awareness in the global MICE sector.
