“For 2024, our outlook is that the exhibition industry will return to and even exceed levels before the pandemic.”

Trade Development Council Executive Director Margaret Fong Shun-man added that since March last year the number of exhibitors, buyers and expo visitors had reached as much as 80 per cent of pre-pandemic levels.

“And so from our point of view … we are quite confident that we will be able to make, definitely 90 per cent and hopefully even 100 per cent of pre-pandemic levels within 2024.”

Yau added several events that had moved elsewhere while Hong Kong was under lockdown would be returning this year, including the APLF Leather Show that went to Dubai, and Vinexpo Asia set to kick off in May following a stint in Singapore.

He added that, as the government continued to boost tourism through mega events, the city was scheduled to host at least 160 exhibitions and 150 convention meetings this year in the Hong Kong Convention and Exhibition centre and AsiaWorld-Expo near the airport.

Yau said there were 61 exhibitions held in the city in the second half of last year, 54 of them approved for a total of HK$265 million (US$33.9 million) in government subsidies.

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Authorities also expressed confidence that funding under various support schemes would not go to waste, following a recent controversy involving football superstar Lionel Messi sitting out Inter Miami’s much anticipated friendly match with a Hong Kong team earlier this month.

“Schemes for exhibition and convention are very different from … the soccer game and other events,” Yau said. “So for all the subsidies and assistance schemes offered to exhibitions and conferences, there is a very formal application procedure to ensure compliance, and that they are delivering what they promised.”

Peter Lam Kin-ngok, the chairman of the Trade Development Council, said at least one key event would be held each month this year, “promoting Hong Kong’s economic and trade development 24/7”.

Lam said among the events to be held next month were the Hong Kong International Jewellery Show, the Diamond, Pearl and Gem Show and Entertainment Expo Hong Kong. They will be followed by two technology exhibitions, including InnoEx, in April.

Other events over the year will cover fashion, healthcare and publications, including the annual Book Fair.

Authorities earlier announced more than 80 mega events would be held in the first six months of the year to bring “joy and pride” to residents and tourists, boost the economy and promote the city’s image on a global stage.

Travel Industry Council executive director Fanny Yeung Shuk-fan said more mega events could help boost tourism, but she urged the government to start advertising them earlier.

“We would suggest that, if the government could continue to develop more mega events with at least six to eight weeks advance publicity and promotion, it could allow tourists to plan for a longer stay in Hong Kong,” she said.

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But Gary Ng Cheuk-yan, senior economist at Natixis questioned whether the industry’s recovery was as favourable as authorities claimed.

“It depends on the definition of the ‘pre-pandemic level’, which can be true if we only look at the number of events or the inflated venue costs,” he said. “However, it is doubtful whether conventions and exhibitions can generate the same economic impact in connecting Hong Kong to the world, given the still much weaker flight capacity.

“The real and full comeback of the sector may only arrive in 2025 as the city gradually recovers in more aspects.”

Additional reporting by Ng Kang-chung