Cashing in on shows

By Ben Moore If there was one exhibition sector you would have expected to have been hit hard by the economic crisis of the late 1990s, most people would have picked financial services. Yet with little more than a fleeting glance at the skylines in Hong Kong and Singapore, it is easy to conclude that banks and other financial institutions are returning stronger than ever. Nevertheless, it appears the region's financial heavyweights are using corporate conferences and smaller seminars rather than large-scale exhibitions to push services or network with suppliers. Three of the region's largest exhibition organisers - Reed Exhibitions, Miller Freeman and Messe Frankfurt (HK) - do not organise events in this sector. It has fallen to smaller commercial operators and government departments to stage financial exhibitions. The team behind one of Asia Pacific's newest events - the India Money Show which took place for the first time last December - believes conditions are right for growth. "A market for financial exhibitions exists in India and elsewhere in the Asia Pacific region," Brandwidth Expo manager sales operation Mr Anthony Pereira says. "To develop the sector, more banks and financial institutions need to be convinced about the benefit of exhibitions as a medium to target their end users. As more banks and financial institutions embark on the exhibitions route this business is bound to grow." The India Money Show is a consumer-focused event. Its aims are to present retail saving and investment options - from mutual funds and term deposits to home and car loans. The show also presents options to make financial transactions easier, showcasing credit cards, debit cards, e-broking, internet banking and financial websites. "We used a mix of media vehicles to reach the right visitor audience, including newspapers, direct marketing, radio and the internet. There is potential for growth in the sector as the region continues to develop away from the economic crisis. Certainly the Indian market can support additional exhibitions and we will now be taking the India Money Show to other major cities," Mr Pereira says. "I do not know why major regional organisers aren't involved in the sector. It certainly cannot be due to a lack of potential because we had a tremendous response to the India Money Show." The potential is tremendous. The large Indian middle class has considerable financial resources at its disposal. There is an explosion in the number of financial options available to it. What better place than an exhibition to examine all these options and meet the financial institutions concerned face to face. But there are challenges ahead. "Unfortunately, the main impediment to the financial exhibitions business in India is the lack of adequate exhibition venues. We would like every major city in India to have its own international standard convention and exhibition centre," Mr Pereira admits. Still regarded as the region's financial centre, Hong Kong is the venue for several annual events. The city's Securities & Futures Commission (SFC) sponsors and attends the annual MoneyWorld Asia exhibition at the Hong Kong Convention and Exhibition Centre (HKCEC) for a number of reasons. "The event is organised by the government trade development council and it is the only one for not-for-profit organisations," SFC associate director of investor education and communication Ms Ivy Lai explains. "As a regulatory body, it is not appropriate for us to endorse and attend an event for the companies we regulate. MoneyWorld Asia is not for profit, it is for the good of the Hong Kong financial industry. Our role is to promote financial services and products in Hong Kong, as well as educate people about protection policies and their rights, and help them understand the role of the regulator. "All our publications are taken during the exhibition and many people fill in our questionnaires about their financial education needs." In addition to enhancing Hong Kong's position as Asia's financial heart, the principal event objective is to provide a platform for visitors to gather quality and detailed information about a wide range of financial products and services all under one roof. To this end, Ms Lai believes the HKCEC serves MoneyWorld Asia well, offering the right blend of access and capacity although not every year has been a success. "Immediately after the financial crisis not many exhibitors had the budget to attend. In 1999, a smaller hall was used, which was cramped. HKCEC is a professional venue and by using a bigger hall for the event, visitors have more space to move around," she adds. "We started investor education in 1996 but people were sceptical about the need. After the crisis people now realise the value of education and knowledge. They need to be better informed and this means there is even more reason to stage and attend financial exhibitions." Such sentiments are echoed by the Hong Kong Trade Development Council (HKTDC), which has organised MoneyWorld Asia each year since 1996. "MoneyWorld Asia has proven that there is a market for a financial services exhibition in Hong Kong," HKTDC manager services promotion Ms June Ngan says. "But as financial services is an invisible industry and difficult to present through pure exhibitions, seminars form an important part of the entire event. We do not strictly separate exhibition or seminar. It is all one promotion. Our focus at the event is on investment education, the target is private investors and the show is open to public. "Mature and sensible investors are an important part of a strong financial centre. Such an event will always be attractive in any community which posesses a strong investment sentiment."