An overflow crowd filled the Grand Foyer of the Hong Kong Exhibition and Convention Centre Monday morning for the opening day of the 50th Anniversary edition of the show. Under the banner “Innovative Play: A Legend Across Time,” the fair (and the concurrent Baby and Stationery fairs) opened on a high note. After returning to an in-person show last year, which was small by comparison, this year’s show is full and bustling as it welcomed attendees from all over the world.
In the past half century, the show has grown both in size and importance. From a mere 71 exhibitors in 1994. In his opening remarks, John Tong, chairman of the HKTDC Toys Advisory Committee, noted that more than fifty years ago, Hong Kong had become the number one Asian export market, so putting on a show seems a natural idea.
In 2024 there are more than 2,600 exhibitors at the combined fairs from 35 countries and regions. At the opening ceremony, Sophia Chong, deputy executive director of the HKTDC, said: “Starting as plastic toy manufacturers in the past, the Hong Kong toy industry has moved towards brand-name development, and transitioned into developing STEM educational toys, smart toys, digital games and green toys. Now Hong Kong’s top-notch toy industry still plays a key role in the global market, while the 50th Toys & Games Fair becomes a must-go trade fair for international toy industry workers.”
In what has been a challenging market for trade shows post-pandemic, Hong Kong has been bucking the trend with robust growth in all industries. Amid the challenging global economic environment, I am pleased to note that Asia provides a bright spot for the toy industry.
At the opening ceremony, special guest Paul Chan, HKSAR government financial secretary noted, “Research shows that toy market revenue for Asia is expected to grow at an average annual rate of 3.5 per cent up to 2028, surpassing the global average of 2.6 per cent.
“In particular, ASEAN (Association of Southeast Asian Nations) is showing good potential as a new key export market. ASEAN accounted for more than 20 per cent of Hong Kong’s toy exports in the first 11 months of last year, up from just 8.4 per cent for the whole of 2021.
“The convention and exhibition industry has long been an important contributor to our city’s overall economy. It attracts high-spending overnight business visitors, spurring economic activities and creating business and employment in sectors such as tourism, retail and catering.
“To further stimulate growth, we are expanding the convention and exhibition (C&E) space in Wan Chai North and at the airport island, with seamless integration with existing venues. Upon completion of the relevant projects, our C&E space will increase by more than 40 per cent to over 220,000 square meters.”
The enthusiasm reflect by officials was echoed by exhibitors on the floor. Happy to be back, crowded booths and crowded, hard-to-negotiate aisles, were a positive sign that bodes well for the next three days.
