More than 180,000 trade buyers spent HK$1 billion at eight trasde fairs held in the last two months.
More than 8000 exhibitors showcased goods ranging from light fittings to wine to visitors from 168 countries and regions at the eight trade fairs mounted by the Hong Kong Trade Development Council (HKTDC) in October and November.
The HKTDC’s autumn trade fairs were: the Hong Kong Electronics Fair (Autumn Edition), electronicAsia, Hong Kong International Lighting Fair (Autumn Edition), Hong Kong Optical Fair and Hong Kong International Wine & Spirits Fair, which were held at the Hong Kong Convention & Exhibition Centre (HKCEC); and Hong Kong International Building and Decoration Materials & Hardware Fair, Eco Expo Asia and Sports Source Asia, which took place at Asia-World Expo.
Buyers from the mainland and overseas were up nine per cent, year-on-year, to more than 110,000. An exhibition buyer spends, on average, more than HK$10,000 in Hong Kong.
“The fairs bring more than HK$1 billion to Hong Kong, not to mention profits from trade orders and related business services,” said HKTDC deputy executive director Benjamin Chau.
He said that, while the volatile economy in Europe and the US has affected Hong Kong exporters, “there are always new opportunities in crisis”.
“The thriving emerging markets and growing demand for green products will keep the momentum. In fact, from the buyer attendance and recent survey findings, we can tell that traders are cautiously optimistic about the market outlook.”
Chau added that the middle class is expanding rapidly in emerging markets, raising demand for quality goods with stylish design. The HKTDC has strengthened promotions in these new markets, inviting more buyers to Hong Kong. The HKTDC’s autumn fairs recorded significant growth in buyers from the BRIC countries (Brazil, Russia, India and the Chinese mainland).
“The eight fairs drew more than 56,000 buyers from BRIC countries, a 19 per cent increase over last year.”
The HKTDC commissioned an independent survey on market prospects and product trends during the fair period. More than 1300 buyers and exhibitors were interviewed for their views on the electronics and lighting industries, including the impact of the volatile economy in Europe and the US on Hong Kong exports.
The survey found that in light of the debt crisis in Europe and the US, payment risk is increasing, with more suppliers requesting full payment before delivery. Yet, the impact on sales volume and value has not been significant. Over two-thirds of the interviewed buyers and exhibitors expect a steady or better market outlook in 2012.
Electronics and lighting industry players believe the Chinese mainland has the biggest growth potential. “For the lighting industry, Europe and the US remain the key growth markets. This may be due to the ban of energy-inefficient incandescent lights in the EU, which leads buyers to source more eco-products such as LED lamps,” said Chau.
Almost all interviewed buyers said they were sourcing as much or more environmentally friendly products. And customers are expressing greater demand for green manufacturing. More exhibitors are being asked to obtain eco-certification, implement green manufacturing processes and provide more energy-efficient products and services.
About 90 per cent of the interviewed exhibitors said they have increased their efforts in green manufacturing. More than two-thirds of them will expand their investment in this area, installing energy-saving equipment in their production lines, developing more green products, and purchasing energy-saving equipment for office operations.
