Shanghai’s Ascent to Exhibition Convention Business.doc

Shanghai?s Ascent to Exhibition Convention Business THE eastern metropolis of Shang- hai has for decades been a main driver of the Chinese economy, and long a point of convergence for companies throughout the world to meet and do business. The 2010 World Expo and the overall upgrading of local infrastructures it entailed have further stimulated Shanghai?s vitality. The municipality?s ascendancy to global finance and shipping industry makes it both more attractive and accessible to business travelers. China now accommodates the world?s fastest-growing market for exhibition/ conference business. During the five years from 2006 to 2011 the floorage of the nation?s exhibition space grew by 48 percent, accounting for 69 percent of Asia?s total. Regarded as a city?s bread and butter industry, this sector, comprising trade shows, conferences and special events, is now a glowing nova in China?s tertiary industry. Shanghai?s exhibition and convention business has experienced unprecedented growth over the past decade. The number of international meetings held there rose from 292 in 2002 to last year?s 745, and participants swelled from 68,465 in 2005 to 204,040 in 2011. These figures spiked in the wake of the 2010 World Expo. In the year that followed Shanghai rose to a No. 24 rank- ing in the International Congress and Convention Association (ICCA). Trade fairs constitute parameters of market and industry trends, and Shanghai is a favored destination among professional exhibitors. Their influx and the growing presence of world established brands have created a raft of companies providing convention and travel services that have opened offices or set up subsidiaries in the city. Their operations have in turn enhanced the level of marketization and professionalization of Shanghai?s exhibition and convention industry. Shanghai?s preponderance in this sector is attributable more to the gravitas of the events it hosts than their volume. Its most distinguished gatheri