UFI’s annual report on the Trade Fair Industry in Asia has revealed a thriving MICE industry on the continent.
Total exhibition space sold at Asian trade fairs exceeded 20m sqm for the first time, increasing by 5.5 per cent on 2016. Total Venue Capacity in Asia/Pacific, meanwhile, will exceed 8.1m sqm by the end of 2017.
The report also revealed that 58 per cent of exhibition space sold in the Asia/Pacific was in China. That is close to six times the space sold in Asia’s second largest trade fair market, Japan.
Elsewhere, The Philippines was the fastest growing trade fair market in Asia in 2016 as space sold jumped by 9.6 per cent. Other Southeast Asian markets that outperformed the regional average included Vietnam (7.3 per cent) and Indonesia (5.8 per cent).
China, Asia’s largest trade fair market, was the second fastest growing market last year posting growth of 7.7 per cent in 2016. India was close behind China, recording a growth rate of 7.4 per cent.
