June 21st, Morning
Lecture Topic: The Impact of the 'Belt and Road' Initiative on the International Exhibition Industry
Speaker: Paul Woodward, President of Woodward-Paul Woodward Consulting Company
Key Points:
Some argue that the 'Belt and Road' Initiative may be the most impactful international scheme since the Marshall Plan after World War II, particularly in terms of economic influence. Furthermore, unlike the post-war period where everything had to be rebuilt from scratch, we are now in a phase of continuous improvement. We believe that the 'Belt and Road' Initiative will have profound effects on the exhibition industry in China and globally.
How can the exhibition industry benefit from the 'Belt and Road' Initiative?
Whether it's cultural exchange, infrastructure connectivity, trade investment, financial integration, or policy coordination, all are highly relevant to the exhibition industry. For example, cultural exchange projects require face-to-face interaction and cannot be fully conducted online. Regarding infrastructure and facility connectivity, many countries have made remarkable progress in the quality, quantity, and scale of their infrastructure, presenting significant opportunities for exhibitions related to 'Belt and Road' along with cross-border investment. Furthermore, Chinese projects abroad will be accompanied by a large export of Chinese products, which will stimulate Chinese foreign trade exhibitions. Many exhibitions require transportation to move products, which will connect China and the world through logistics systems.
For the 'Belt and Road' Initiative, the most important driving force is the Chinese economy itself. We are currently witnessing the largest economic transformation in Chinese history. The China International Import Expo, held in November, is a major commercial event, and in the past, the most important exhibitions were focused on exports. Now, they are focused on imports to meet the needs of the Chinese market. This represents a vast commercial opportunity. Therefore, the 'Belt and Road' Initiative presents significant opportunities for specific types of exhibition activities.
For example, countries along the 'Belt and Road' initiative exhibit a relatively underdeveloped exhibition industry. Here, the exhibition market will undergo significant expansion, and we can clearly see that governments will actively participate, indicating that it is not solely driven by commercial interests. We encourage everyone to urge their governments to participate, otherwise, as an exhibitor, you will miss the opportunities presented by the 'Belt and Road' initiative.
Today's China already has large-scale exhibitions on a global scale. Similarly, we have the opportunity to further expand these. We can clearly see that both secondary markets and emerging industries are creating new exhibitions. However, we have not yet seen its full potential – the Chinese exhibition industry will not be limited to within China. When will we see the Chinese exhibition industry shine on the international stage? When will it compete with major companies like German and British companies?
Many Chinese companies are organizing exhibitions overseas, and we have also seen genuine Chinese companies acquiring Thai exhibition companies in Bangkok. This is a small but excellent start. In the future, Chinese companies will invest heavily in South Asia and Southeast Asia. Chinese companies may also enter more mature markets such as Germany, Europe, or the United States, where competition will be even more intense.
Opportunities in Central Asia and South Asia are limited. The African exhibition industry is still underdeveloped, and Chinese companies have the opportunity to lead the development of the exhibition industry in Africa. Currently, railways are widespread in Africa, and they are all invested in and built by China. This presents a very clear opportunity in Africa.
Greece was already far behind other countries during the financial crisis, so they are very welcoming of Chinese investment. In Western Europe, we are not yet certain, especially in the exhibition industry. In addition to more Chinese exhibitors willing to participate in international exhibitions, we have not yet seen other significant impacts.
