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MACAU BUSINESS


“We originally expected that only about one-


third of the events would be cancelled, but given the latest development [of the pandemic], about half of the events have been cancelled while the


rest have been rescheduled” Alan Ho Hoi Meng, chairman of the


Macau Convention & Exhibition Association


gradually moved beyond the border. With signs of stabilisation in Mainland China as of late March, the number of cases is still surging in most parts of American and Europe. As meetings and conferences are mostly discussions


between speakers and audiences, Mr. Ho noticed that some organisers have opted to have virtual meetings online, rather than rescheduling. Concerning exhibitions and trade shows – involving business to business matching and networking sessions to booth showcases – this is more difficult to conduct online, he added. “The loss of the sector has been deepening over the


latest development of the virus outbreak. It is now expected that the overall turnover of the sector will drop by at least 40 per cent this year and the situation could further deteriorate if the outbreak cannot been contained soon,” he said, as more MICE events usually take place here in the second half of the year.


Global problem


The negative impact of COVID-19 upon the MICE sector is not only limited to the gambling enclave. It was announced that the 127th edition of the Canton Fair, also known as the China Import and Export Fair, the oldest and one of the largest trade fairs in China, would not take place as scheduled in April. It is the first time for the fair – which is held in the spring and autumn seasons of each year – to face delay or cancellation since it debuted in 1957. UFI, the Global Association of the Exhibition Industry,


estimated in March that the global exhibition and events industry has lost a total output of 14.4 billion (US$16.5 billion) in the past few weeks due to the pandemic. The sector in the Asia Pacific region has been dealt the hardest blow, resulting in a loss of over 8.4 billion in the output, the group said. “Globally, the fact that more than 500 trade shows


have not taken place in recent weeks is creating an escalating ripple effect for whole industries,” Kai Hattendorf, managing director and CEO of UFI, was quoted as saying in a statement. UFI added exhibiting companies across the globe have so far lost orders of up to 23 billion euros in recent times, including 13 billion in the Asia Pacific region. “But even short-term postponements have an immediate impact because they delay scheduled business and revenues. This poses an existential risk, in particular for small and medium-sized companies,” UFI noted.


More time needed According to the veteran, basically all events scheduled


to take place here before and by May have been rescheduled or cancelled. “We originally expected that only about one-third of the events would be cancelled, but given the latest development [of the pandemic], about half of the events have been cancelled while the rest have been rescheduled,” he said. Cases of COVID-19 were first reported in Mainland China between late December and January but it has


22 MAY 2020


“With the cancellations of numerous events in the first half of this year, the upstream, midstream, and downstream of the entire industry chain have suffered huge losses,” Tony Lam, president of the Macau Fair and Trade Association, has remarked. “The industry has already stepped into a downturn.” Compared with tourism, hotel, food and beverage, and other sectors that might have more prompt recovery after the end of the virus outbreak, the MICE sector will take more time. “It takes time to prepare and launch a MICE


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