5,000 jobs at risk in the HK events industry

A new poll of the Hong Kong events industry suggests that as many of 50 percent of firms in the exhibition planning and production business are considering closing down after months of zero income. The industry concern group that conducted the poll estimates that as many as 5,000 jobs may be at risk if that happens. Also according to the group's estimates, there are about 600 firms related to exhibition planning, involved in backdrop design, furniture rentals and booth design and assembly.

Already, thousands of casual jobs have been lost in the industry: some estimates suggest that a single trade show might generate between 2,000-3,000 casual jobs from design and setup, to logistics, media, and teardown, and figures from the Hong Kong Exhibition & Convention Industry Association indicate that over 50 exhibitions and conferences have been cancelled or postponed since COVID-19 began to spread at the start of the year. The association also found that the overwhelming majority of its members are looking at significant losses for 2020. The South China Morning Post reported association chairman Stuart Bailey as saying that many exhibition planners may not have enough cash reserves to wait for recovery.

The dire outlook for the events industry is mirrored across most of Hong Kong's economy, according to a survey conducted this month by the Hong Kong General Chamber of Commerce. The chamber's figures suggest that without ongoing government support, half the SMEs in the city do not expect to survive beyond the next six months. With SMEs accounting for 45 percent of employment in Hong Kong's private sector, the total number of jobs on the edge might add up to far more than the losses from just the events business.