Hong Kong jewellery fair – the world’s largest – robbed of sparkle by protests, US-China trade war, reports drop in turnout
- ‘Visitor turnout was down, but traffic quality was up,’ organiser says
- Smaller good quality gemstones are moving well, Thailand-based exhibitor says
The Hong Kong Jewellery & Gem Fair, the world’s largest jewellery fair, might have attracted half its usual number of visitors and buyers of diamonds, as well as fewer exhibitors, who brought half their usual offering to the event, in a climate blighted by poor sales, the US-China trade war and the Hong Kong protests, according to a regular attendee.
The fair was held on September 16-22. “This year, overall activity at the exhibition was lower than usual. Among the large industry players, few did not participate. But those who arrived, brought in 40 per cent to 50 per cent less products than usual,” Evgeny Agureev, director of sales at Mirny, East Siberia-based state-backed company Alrosa said in an interview.
“According to our observation, the number of visitors to the exhibition and buyers of diamonds was half the usual,” he said, adding that attendance was hit by an unfavourable environment for the diamond industry, the protracted US-China trade war and the anti-government protests in Hong Kong.
Hong Kong Jewellery & Gem Fair remains the “ultimate meeting place for the global jewellery industry”, David Bondi, senior vice-president – Asia at Informa Markets, which organises the event, said in an emailed statement.
“What’s happening in Hong Kong now and the uncertainties in the global economy are affecting us in a certain way.
“Visitor turnout was down, but traffic quality was up. We did receive positive compliments from exhibitors and high-quality visitors, who engaged in serious trading at the show,” he said.