Charting a course to becoming a worldwide exhibition hub
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Back in 2016, when I was a project director in D眉sseldorf, Germany, I traveled to Shanghai frequently for business. I stayed in a hotel for a few days and loved exploring local cuisine with coworkers.
On every trip, I would take home souvenirs for my family. Given Shanghai鈥檚 rich cultural and tourist offerings, I would occasionally prolong my stay to explore the city on my own.
International visitors are more likely to seek out and invest in local experiences, as well as spend more money on lodging, dining and leisure activities. The indirect profits spent by overseas participants are therefore likely to be higher.
For Shanghai, increasing the number of foreign attendees at their exhibitions benefits not just the trade fair but also the city鈥檚 numerous sectors, ranging from hospitality to tourism.
Trade fairs encourage innovation in industries, while industries drive economic development. They provide not just business opportunities but also benefit the host city and country.
D眉sseldorf, which has a population of over 600,000, conducts over 40 trade fairs each year, with more than 80 percent of participants coming from other countries. This high foreign participation rate has a significant socioeconomic impact on the city.
According to the German Institute for Economic Research, trade fairs and conferences in D眉sseldorf create approximately 1.66 billion euros (US$1.8 billion) in annual revenue for the local economy, primarily in the hotel, catering and craft industries.
They contribute to the creation of more than 16,000 job possibilities and approximately 1.5 million overnight stays in D眉sseldorf, accounting for one-third of total hotel bookings.
The travel-related activities of visitors, logistics and event technology companies involved in trade shows, and hotel stays in nearby towns all have a greater impact on the German economy.
The D眉sseldorf trade fairs and conventions generate a total revenue of 2,98 billion euros and nearly 28.000 job possibilities throughout Germany.
Consider what that would entail for Shanghai in terms of turnover, jobs and hospitality. The indirect profitability is enormous.
You may wonder what indirect profitability is.
Trade fairs
Every euro from trade fairs multiplies locally and nationally. If D眉sseldorf trade fairs generate 1,000 euros annually (of course they generate much more), the ripple effect generates 6,700 euros for the city and Germany. The indirect profitability ratio is 1:6.7.
Shanghai鈥檚 trade exhibitions are much more promising. The 2019 Shanghai Pudong Trade Fair Annual Report estimates their indirect profitability ratio at 1:9.
Shanghai鈥檚 trade fairs have an average foreign participation rate of 20 percent, offering tremendous growth potential.
This exciting prospect of increased socioeconomic impact shows the city鈥檚 ability to expand its global reach and influence in the exhibition industry.
As Shanghai develops, recruiting a more diversified foreign audience will boost economic and cultural activity. The international visitors鈥 experiences underscore Shanghai鈥檚 potential at Asian exhibitions.
How does Shanghai differ from Singapore and Hong Kong, which are Asia鈥檚 top exhibition centers, due to their robust infrastructure and global connectivity?
Let鈥檚 start with Shanghai鈥檚 strategic location first. The city is a hub of international trade and culture. This strategic positioning, world-class amenities, and vibrant urban environment distinguish the city.
Shanghai鈥檚 competitiveness stems not only from its physical infrastructure but also from its dynamic location within China鈥檚 booming economy.
Chinese cities like Shanghai and Shenzhen represent the country鈥檚 rapid growth and influence in global trade and innovation. While its existing exhibition landscape is laudable, Shanghai鈥檚 actual potential rests in exploiting its unique position in China and Asia to attract a more diversified international audience and build a deeper, more internationally integrated exhibition experience.
These factors have made Shanghai a major exposition city due to its accessibility, modern infrastructure, and large venues like the Shanghai New International Expo Center in Pudong. International exhibitors and visitors are drawn to Shanghai鈥檚 modern airports, diverse cuisine and hospitality industry.
Shanghai is now recognized as one of the world鈥檚 prominent cities in terms of standard of living.
Hosting world-class events helps a city become a global exhibition hub. We in D眉sseldorf have the expertise to organize around 20 world-class exhibitions annually.
What is the definition of a world-leading show? It鈥檚 not just about the numbers, such as exhibition area and exhibitors, but also ground-breaking breakthroughs and technological debuts. The standard is high for world-leading trade fairs in D眉sseldorf, where manufacturers and companies from diverse industries often reserve their global launches until the exhibition date.
Addressing Shanghai鈥檚 current shortcomings requires not just improving the exhibition infrastructure but also developing a more compelling value proposition that appeals to foreign exhibitors. This approach will give them the confidence and motivation to choose Shanghai as a top stage for their worldwide product debuts and big announcements, increasing the city鈥檚 standing in the global exhibition sector.
Policies supporting Shanghai as a global exhibition hub have also been noted.
Entry is free for six European nations, and also Singapore, Thailand and Malaysia, which will give a boost to the economy.
Our international exhibitors and visitors should increase this year. Shanghai touts its status as a worldwide exhibition hub. The city can enter a new period of riches and global influence. Shanghai needs this consistent determination to become a global exhibition hub and achieve success.
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