Hong Kong Trade Development Council Fairs Bring in 200,000 Visitors, HK$1.4 Billion to City
November 11, 2013
The Hong Kong Trade Development Council’s eight fairs held in October and so far in November have brought in not only nearly 8,700 exhibitors, but also 200,000 buyers, up five percent, compared with the year before.
It’s estimated that the fairs also brought in more than HK$1.4 billion to Hong Kong, not including trade orders.
The eight fairs were: Hong Kong Electronics Fair (Autumn Edition), electronicAsia, Hong Kong International Lighting Fair (Autumn Edition), Hong Kong Optical Fair, and the Hong Kong International Wine & Spirits Fair, which were held at the Hong Kong Convention and Exhibition Centre; and Eco Expo Asia, Sports Source Asia and the Hong Kong International Building and Decoration Materials & Hardware Fair, held at AsiaWorld-Expo.
HKTDC Deputy Executive Director Benjamin Chau said that more than 200,000 buyers from 163 countries and regions attended the fairs.
Nearly 120,000 of them were overseas buyers, an increase of nearly six percent, compared with the previous year.
“According to our statistics, each business traveler spent an average of HK$11,000 during their stay,” Chau said.
He added, “Based on this figure, the total amount spent by overseas buyers and exhibitors during the fairs could amount to more than HK$1.4 billion, not including earnings from trade orders and related business services.”
Chau said that the overall buyer attendance had returned to pre-financial-crisis levels. Buyers from emerging markets, such as Brazil, the Chinese mainland, Indonesia, Malaysia, Poland and Ukraine recorded double-digit growth.
In addition, attendance from traditional markets Australasia, France, Japan and Korea each rose at least four percent.
“We think Hong Kong companies can diversify risks by expanding into new markets, taking small orders to widen their customer base and increasing the production of creative and eco-friendly products to improve their competitiveness,” Chau said.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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