This year’s Macao International Trade & Investment Fair (MIF) and Macao Franchise Expo (MFE) attracted more than 66,000 attendees and appear to have convinced at least 22 businesses to set up shop in the SAR, according to the Commerce and Investment Promotion Institute (known by its Portuguese initials IPIM).
The organisation also noted that around 18 companies attending MIF and MFE said prior to the expos that they would launch operations in Macao.
More than 1,300 exhibitors from 18 countries and regions – including many from the Lusophone world – participated in the concurrent events, which ran from 16 to 19 October and covered an area of 38,000 square metres at the Venetian’s Cotai Expo. Over 1,000 business-matching sessions took place over the four days, with more than 100 projects being signed.
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Almost half of those projects were related to the four emerging industries – MICE, advanced technology, life sciences and fintech – deemed by the government to be crucial to Macao’s economic diversification, IPIM said.
MIF and MFE were held this year under the respective themes of “Economic Diversification and Development Opportunities” and “Brands Gathering with Business Opportunities,” said IPIM.
Macao aims to host 1,500 MICE events across 2024. Last year, MICE visitors spent close to 5,000 patacas per person, on average – more than double the amount that leisure tourists spent.
