Industry optimistic about ASEAN and Middle Eastern markets
HONG KONG, Nov 14, 2019 - (ACN Newswire) - As the autumn trade fair season draws to a close, the Hong Kong Trade
Development Council (HKTDC) has revealed that more than 9,600 exhibitors and nearly 156,000 buyers from 165 countries
and regions attended the seven fairs it organised in October and November. Among specific markets, there was an increase
in the number of buyers coming from Turkey, Brazil, Iran, Vietnam and Macao.
The seven autumn trade fairs organised by the Hong Kong Trade Development Council welcomed nearly 156,000 visitors from
165 countries and regions.
The Tech Hall at the Hong Kong Electronics Fair (Autumn Edition) featured the Nanjing 5G Pavilion along with the
Symposium on Innovation & Technology, held under the theme "Intelligent Connectivity: 5G and Beyond".
electronicAsia showcased a bevy of cutting-edge production technologies and provided an important sourcing platform for
the upstream supply chain in the electronics industry.
The seven fairs were the HKTDC Hong Kong Electronics Fair (Autumn Edition), electronicAsia, jointly organised with MMI
Asia Pte Ltd, the HKTDC Hong Kong International Lighting Fair (Autumn Edition), the HKTDC Hong Kong International
Optical Fair and the HKTDC Hong Kong International Wine & Spirits Fair, all held at the Hong Kong Convention and Exhibition Centre (HKCEC), and the HKTDC Hong Kong International
Outdoor and Tech Light Expo and Eco Expo Asia, jointly organised with Messe Frankfurt (HK) Ltd, held at AsiaWorld-Expo.
The seven HKTDC autumn fairs welcomed more than 7,300 exhibitors and attracted nearly 95,000 buyers from Mainland China
and overseas. This influx of visitors to Hong Kong generated ample business opportunities for the city's tourism,
catering and service sectors. According to Hong Kong Tourism Board statistics, the per capita spending of overnight MICE
(meetings, incentives, conventions and exhibitions) visitors averages HK$8,218. Based on this figure, it is estimated
that the seven fairs generated close to HK$900 million in income for Hong Kong's tourism and exhibition-related
industries.
Buyers and exhibitors view Hong Kong as important trading platform
Benjamin Chau, HKTDC Deputy Executive Director, said: "Despite the internal and external challenges that Hong Kong has
been facing, all seven HKTDC fairs and associated events ran without a hitch. Surveys conducted during the fairs found
that 97% of responding buyers view the Hong Kong fairs as one of the most popular channels to find new suppliers, while
96% of responding exhibitors consider the Hong Kong fairs to be the most effective in helping them reach new buyers.
More than half (56%) of responding exhibitors chose to launch their new products at the Hong Kong fairs, reflecting that
Hong Kong continues to be an important platform for global trade."
Mr Chau added that, during the seven fairs, the HKTDC viewed the safety of exhibitors and buyers as its top priority
amid the ongoing social issues in Hong Kong. Various measures were implemented to strengthen support to visitors and
exhibitors, including enhancing transport services and ramping up its business-matching service to enhance
buyer-exhibitor connections. "We will continue to provide supportive services in the future to facilitate industry
participants from around the world to source and do business in Hong Kong, and to generate more business opportunities
for small and medium-sized enterprises," he said.
The Buyer Concierge Desks newly set up by the HKTDC at the seven fairs, together with the Council's regular
business-matching services, led to a total of 7,000 meetings being successfully arranged, creating more opportunities to
help exhibitors and buyers connect. For more information on the support services offered by the HKTDC during the autumn
fairs, please visit https://bit.ly/2KsrhcH.
Survey: Global economic fluctuations seen as major business challenge
An independent research agency commissioned by the HKTDC interviewed 1,724 exhibitors and buyers during the Autumn
Electronics Fair, the Autumn Lighting Fair and the Outdoor and Tech Light Expo. The survey showed that respondents
considered fluctuations in the global economy (43%) to be the top business challenge this year, followed by an increase
in operating costs (36%) and fluctuating raw material prices (29%), while only 8% of respondents were concerned about
the unstable political environment in Hong Kong.
As Mainland China and the United States continue to make progress on trade negotiations, respondents expressing
pessimism over the likelihood of a resolution dropped from 48% last year to 33% this year. A total of 45% of respondents
remained neutral while 23% expressed optimism.
Industry: Middle East, ASEAN seen as most promising emerging markets
Western Europe (25%), North America (20%) and Japan (14%) were seen as the traditional markets that respondents from the
electronics and lighting industries most hoped to develop. In terms of emerging markets, Association of Southeast Asian
Nations (ASEAN) countries (10%), Mainland China (8%) and the Middle East (6%) were the most favoured.
As for market outlook, most respondents viewed Korea (63%), Australia and New Zealand (55%) and Western Europe (53%) to
have the best growth prospects among traditional markets, while the Middle East (71%) and ASEAN counties (67%) topped
the emerging markets.
Many ASEAN buyers adopted a proactive attitude when sourcing, including Vietnamese buyer Dung Minh Nguyen, Director of
HDP Vietnam Technology, who visited the Autumn Lighting Fair. "Within a few days, we identified more than a dozen
potential suppliers from Hong Kong and Mainland China. We plan to order at least US$50,000 worth of products relating to
commercial lighting for hotel projects, outdoor lighting and track lights from each of these new suppliers," he said.
Demand for smart products continues to grow
In terms of product trends, the global demand for smart products continues to gather pace. The Autumn Electronics Fair
survey found that 81% of respondents were willing to pay up to an additional 20% for electronics products with smart
home applications. Three quarters of industry players (75%) held an optimistic view on the market potential of products
incorporating augmented reality (AR) and virtual reality (VR) technologies, while 71% saw favourable prospects for
robotics. Medical applications (45%) were selected as having the greatest growth potential over the next two years, a
significant increase of 21 percentage points compared to last year's findings.
To help industry participants stay abreast of the latest trends, the HKTDC enhanced the innovation and technology
elements at all seven fairs. For example, the Autumn Lighting Fair's Connected Living, Smart Home zone showcased an
assortment of smart living concepts, technologies and products; the Optical Fair's IT Solutions, Shop Fittings & Equipment zone presented innovative eyewear technologies; the Green Transportation zone at Eco Expo Asia featured
eco-friendly solutions such as electric vehicles; and the Autumn Electronics Fair debuted the Nanjing 5G Pavilion at the
Tech Hall.
Meanwhile, the Startup zone at the Autumn Electronics Fair presented an array of exciting new concepts from innovative
young companies. One of the exhibitors was OliveX (HK) Limited, which has developed an interactive artificial
intelligence (AI)-enabled smart mirror. Keith Rumjahn, the company's CEO, said: "This is our first time to participate
in the Startup zone at the Autumn Electronics Fair. The results have far exceed our expectations. We have met with two
potential distributors from Spain and the United Arab Emirates. The Startup zone provides a cost-effective platform for
us to maximise the exposure of our new product and look for potential distributors."
Multiple forums and seminars were organised during the fairs to examine current technological trends and bring
participants up to speed on the latest industry developments. These included the Autumn Electronics Fair's Symposium on
Innovation & Technology, the Autumn Lighting Fair's forum on the theme "Ecosystem of Connected Living", Eco Expo Asia's Eco Asia
Conference, and the 17th Hong Kong International Optometric Symposium at the Optical Fair.
Summary of survey results:
New markets that industry players have the most desire to enter
Traditional markets
2019 survey / 2018 survey
Western Europe (25%) / Western Europe (18%)
North America (20%) / North America (11%)
Japan (14%) / Japan (7%)
Emerging markets
2019 survey / 2018 survey
ASEAN countries (10%) / Mainland China (10%)
Mainland China (8%) / ASEAN countries (9%)
Middle East (6%) / India (6%)
Markets considered to have the best growth potential in the coming two years
Traditional markets
2019 survey / 2018 survey
South Korea (63%) / Japan (77%)
Australia & New Zealand (55%) / South Korea (75%)
Western Europe (53%) / Western Europe/Taiwan/Hong Kong (69%)
Emerging markets
2019 survey / 2018 survey
Middle East (71%) / South Africa (79%)
ASEAN countries (67%) / Mainland China (76%)
South Africa (64%) / Middle East/ASEAN countries (71%)
ends