More than 1,000 conventions and exhibition were held in Macao in 2023, reaching the set target. According to data from the Macao Trade and Investment Promotion Institute’s “One-stop Service” for MICE Bidding and Support, there were 44 projects throughout the year focused on the four major key industries, representing an approximately 30% year-on-year growth. This reflects the gradual formation of the "industry + exhibition" approach and the steady expansion of the exhibition brand influence. The approach of “attracting investment with exhibitions” model is becoming more refined.
MICE events are now guided by the "1+4" industries and efforts to enhance the implementation of “attracting investment with exhibitions”
In addition to aligning with the Macao SAR government's strategy of appropriate diversification of the "1+4" industries, the Macao Trade and Investment Promotion Institute (IPIM) arranges themed forums and business matching sessions during major exhibition events organised/co-ordinated by IPIM to reach a wider range of potential investors. IPIM actively reaches out to exhibitors and assists them in the establishing businesses in Macao. Since September 2022, a total of 397 exhibitors/exhibition representatives have been introduced to Macao’s investment environment and Investor’s “One-stop Service by IPIM, resulting in 59 investment intentions, of which 19 companies have been successfully set up. Through pro-active efforts in "promoting exhibitions with conventions" and "attracting investment through exhibitions" activities, the aim is to convert exhibition participants into investors.
The "Multi-venue Event" promotes synergistic development of Macao and Hengqin
The "Four New" industries being developed in the Guangdong-Macao In-depth Co-operation Zone in Hengqin align well with Macao's four key industries, providing support for jointly organising related themed conventions and exhibitions in both locations. In 2023, the economic and trade departments of Macao and Hengqin jointly launched the brand logo "“MICE² Macao x Hengqin". Macao hosted 14 “multi-venue events”, an increase from the three events in 2022. Examples include the "BEYOND Expo", the " China (Macau) High-quality Consumption Exhibition & Hengqin Global Bay Areas Forum", and the "Guangdong-Hong Kong-Macao Greater Bay Area for Trade in Services", which was held as a multi-venue event three locations, with the main venue in Zhuhai and sub-forums held in Macao and Hong Kong. The “multi-venue event” model is now creating more and more possibilities for industries’ development and promoting diversified regional industry co-operation.
According to data from the Statistics and Census Service, in the third quarter of 2023, the average expenditure per exhibition visitor was MOP 5,072, which is 1.14 times higher than the average expenditure of general tourists. The high-spending power of exhibition participants visiting Macao can stimulate the development of related industries such as hotels, restaurants, retail, and logistics, benefiting various sectors, including small- and medium-sized enterprises. It fully leverages the synergistic effect of "exhibition + tourism". In 2023, IPIM facilitated nearly 6,000 exhibition participants to explore and consume in various areas of Macao, driving the local economy in communities.
