CWT M&E, the global meetings and events division
of CWT, has unveiled its ranking of the top 10 cities for
meetings and events in Asia Pacific (APAC), with Shanghai holding
on to the coveted number one spot.
The ranking is based on
proprietary and industry data contained in CWT’s 2020 Meetings &
Events Future Trends report, to be published next week.
top 10 cities for meetings and events in APAC (versus 2019):
1. Shanghai, China (1)
2. Beijing, China (3)
4. Bangkok, Thailand (4)
5. Sydney, Australia
6. Tokyo, Japan (6)
7. Hong Kong, China (7)
Mumbai, India (9)
9. Melbourne, Australia (8)
The top 10 list in APAC has proven sticky, with
the exact same cities featured in both the 2020 and 2019
lists—with most hardly budging from last year’s rankings and with
no new entrant in sight. China, once again, netted the most
entries, including Beijing and Chengdu, and continues to drive M&E
activity in the region.
As in North America, the
increasingly acrimonious trade war between the world’s two largest
economies is threatening to derail this growth, and is stoking
fears of potentially triggering a recession.
“It is hard to
underestimate the impact of the US-China trade tit-for-tat,” said
Sam Lay, Senior Director, Asia Pacific, CWT Meetings & Events.
“Companies across the region, including those in the meetings and
events industry, are wary of the deteriorating situation and its
negative effect on business.”
Closer to home, the
three-month old protests rocking the streets of Hong Kong are also
being closely watched by the business community. A number of
countries have issued safety advisories urging travelers to
exercise caution, and some businesses are taking a wait-and-see
approach with their meetings and events scheduled in the near to
mid-term. However, sentiment remains positive for Hong Kong as a
key international business destination in 2020.
itself continues to be a top draw for incentive travel, as
attendees look for unique, life-changing experiences in the varied
and distinct cultures of Asia Pacific. Demand is going beyond the
well-known regional hubs and into second and third-tier cities.
Among the region’s destinations on the rise are Hanoi in
Vietnam, Dalian and Macau in China, Malaysia’s capital, Kuala
Lumpur, and Perth, Australia. These destinations typically offer
better values than the top-tier cities, along with an increasing
number of competitive hotels and venues that can host meetings and
events of varying sizes.