Global Sources Now Second-Largest Trade Show Organizer in Hong Kong– Business Strategies Group Report
Growth driven by China Sourcing Fairs: Electronics & Components, Gifts & Home Products, Fashion Accessories and Underwear & Swimwear
HONG KONG, November 1, 2007 The Business Strategies Group trade show market report shows Global Sources (NASDAQ: GSOL) is the second-largest trade show organizer in Hong Kong, with a 14 percent market share.
This news comes as Global Sources (http://www.globalsources.com) closes its biggest yet China Sourcing Fairs: Electronics & Components, Fashion Accessories, Underwear & Swimwear and Gift & Home Products shows at AsiaWorld-Expo in Hong Kong with over 7,500 booths.
Global Sources' Chairman and CEO, Merle A. Hinrichs, said: "We are delighted with the findings of the Business Strategies Group report. Becoming the second biggest show organizer in Hong Kong, having just operated in the market since 2006, is a dramatic testament to the success of the China Sourcing Fairs and to the trust and support we have established over the years with our buyer and supplier communities.
"Our exhibitors appreciate the quality of the buyers who attend the China Sourcing Fairs and, likewise, buyers value the quality of the suppliers they meet. And clearly, the convenience of Hong Kong and AsiaWorld-Expo has supported our exciting growth.
"Beyond this, the combination of our online, print and trade show services gives Global Sources a major advantage. Export suppliers have three primary marketing objectives: lead generation; branding and differentiation from competitors; and getting face-to-face with buyers to negotiate and win orders. We believe that the China Sourcing Fairs have grown so rapidly because Global Sources helps suppliers achieve all three objectives."
Growing Share of Hong Kong's Expanding Trade Show Sector
The Business Strategies Group report entitled 'Profile of the South China Exhibitions Market', published in September 2007, shows that Hong Kong's trade show industry experienced strong growth in 2006 attracting 62,000 exhibitors – up 50 percent from the previous year – and 5,200,000 visitors.
The report cited primary reasons for industry growth as "the successful opening of AsiaWorld-Expo (AWE), the emergence of Global Sources as a serious competitor in Hong Kong's exhibition industry and the existence of significant untapped demand from exhibitors."
The report adds that "the opening of AWE added over 66,000 square meters of space and Global Sources was able to successfully fill it with its China Sourcing Fairs during peak periods in April and October."
Global Sources plans to further expand its Hong Kong China Sourcing Fair portfolio with the launch of specialized shows for Gifts & Premiums and Home Products in 2009.
In total, Global Sources will organize eight China Sourcing Fairs in Hong Kong in 2008 and nine Fairs outside the region in other rapidly growing exhibition markets of Shanghai, Dubai and Mumbai.
Specialized Global Sources Trade Shows, Websites and Magazines
The China Sourcing Fairs are an important part of Global Sources' sourcing and product information services, which include Global Sources Online (http://www.globalsources.com), Global Sources trade magazines and Global Sources Direct (http://www.globalsourcesdirect.com).
Further information about Global Sources is available at http://www.corporate.globalsources.com .
Business Strategies Group (http://www.bsgasia.com) is the only market intelligence and strategy consulting firm in Asia with a special focus on business media, information and events. Its services include research, market intelligence, mergers and acquisition support and strategy development. It publishes regular reports on all aspects of B2B media in Asia.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of Section 27-A of the Securities Act of 1933, as amended and Section 21-E of the Securities Exchange Act of 1934, as amended. The company's actual results could differ materially from those set forth in the forward-looking statements as a result of the risks associated with the company's business, changes in general economic conditions, and changes in the assumptions used in making such forward-looking statements.