SUPPLIERS LOOK TO TAP INTO THE SIGNIFICANT GROWTH OPPORTUNITIES OF CHINA – WORLD’S SECOND LARGEST ECONOMY
Following the predicted “growth in the volume of events” in China, detailed in the 4th CIBTM Annual Meetings Industry Report presented at the event in 2010, the organisers Reed Travel Exhibitions, are seeing an increase in the number of regional and international suppliers exhibiting this year to take advantage of the “new sales leads” generated from the event.
Critical to the success of the event for all suppliers is the Hosted Buyer programme that delivers pre-scheduled appointment diaries for all exhibitors. Last year more than 5400 business meetings took place between buyers and suppliers during the show.
Key points from the research conducted prior to CIBTM 2010 showed that 64% of buyer respondents indicated that over 50% of their future business will take place in China at some point in the next few years, representing a wide range of industry sectors, in particular pharmaceutical and medical. At the same time, 74% predicted an increase in the volume of events organised in China and 51% said budgets would also be increased.
“Interest in the industry is at an all time high and this is particularly evident in China where government and private sector investment is transforming destinations on the back of the Olympic legacy” says Jeffrey Xu, Exhibition Manager, CIBTM.
Suppliers also confirmed that they were witnessing a growth in business placed in China and that both the country and the Asia region in general will also offer the most growth potential.
As the results in the report revealed, the huge potential for growth in the domestic, regional and international inbound and outbound markets for all types of meetings and events in China and Asia seems likely to continue for some time yet.
A diverse range of regional companies have already confirmed they will be participating at CIBTM 2011 including Gloria International Hotels, Ocean Spring Resort, Tianiun Hotel Group, Hangzhou Kaiyuan Hotel Group, Changjiang Cruise and Xia Men Municipal Trade Development Bureau. International companies participating include Langham Hotels, Kempinski International, Millennium, Sicilia Convention Bureau, Flaanders, Silversea, Marriot International, Abu Dhabi Tourism Authority, Dubai Department of Trade and Commerce, Thailand Convention & Exhibition Bureau, Barcelona Convention Bureau, Korea Tourism Organisation and many others – view the full exhibitor list at www.cibtm.com.
The 2010 CIBTM China and Asia Meetings Industry Research Report is available in full at www.cibtm.com and the 2011 study is currently underway and will be presented once again during the event which takes place in Beijing from 30th August – 1st September.
“China, in light of its growing economy, is becoming a compelling destination for meetings, events and incentives, offering a diverse range of quality products and unique experiences. This year’s event is designed to provide our local, regional and international Hosted Buyers with a greater choice of suppliers from which to select and plan their pre-scheduled appointments. We really do urge potential exhibitors to join CIBTM and participate in this year’s show” continued Jeffrey Xu, CIBTM’s Exhibition Manager.
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For further information on CIBTM 2011, visit www.cibtm.com
