The Hong Kong Special Administrative Region’s (HKSAR) Government has announced the extension of the Convention and Exhibition Industry Subsidy Scheme for six months until 31 December 2022, in response to demand from the industry.
Part of the Scheme’s funding will also be allocated to provide a one-off immediate relief measure to private organisers of exhibitions that have a clear track record of being held in Hong Kong, to assist in their pandemic recovery. The amount of the immediate relief will be equivalent to 20% of the average annual rental of the relevant exhibitions, subject to a cap of HK$1m (US$128,500) per event.
Stuart Bailey, chairman of the Honk Kong Exhibition and Convention Industry Association (HKECIA), said: “The further extension of the Scheme and the one-off immediate relief fund are timely relief measures for the industry, helping ease financial burdens on the convention and exhibition organisers who can therefore get ready for the industry revival.”
Bailey added: “We continue to call on the government to provide a road map for the relaxation of quarantine measures for international business travellers so that the industry can stage large-scale events again. Without a proper plan in place some trade exhibitions will leave Hong Kong and then no amount of assistance will be enough to save the industry.”
The government launched the Scheme with a total commitment of HK$1.07bn. It has been extended twice since it was launched on 3 October 2020.
For more information about applications to the Scheme, please click here