Following Hong Kong’s lifting of the mandatory mask mandate and full resumption of travel, business people from around the world flocked to the city’s first major trade fair. Organised by the Hong Kong Trade Development Council (HKTDC), the 39th HKTDC Hong Kong International Jewellery Show and the 9th HKTDC Hong Kong International Diamond, Gem & Pearl Show gathered over 2,500 exhibitors and successfully concluded. The five-day fairs attracted over 60,000 buyers from 130 countries and regions, with significant increase in participation from Mainland China and the Asia region. In an on-site survey with around 700 exhibitors and buyers, about 60% exhibitors and buyers expected their business to return to pre-pandemic levels in one year, reflecting a positive outlook for the jewellery sector.

Sophia Chong, Deputy Executive Director of the HKTDC, said: “We were delighted to see the overwhelming support from industry buyers and exhibitors for the twin shows. The vibrant atmosphere, busy traffic and packed booths not only reflected the global jewellery market’s pent-up demand after three years and strong buying power, but also reaffirmed Hong Kong’s position as the world’s premier trade fair capital in Asia which brings the world together to do business and to build relationships”.

Under HKTDC’s EXHIBITION+ hybrid model, global jewellers and traders could connect online for another week beyond the physical fair days until 12 March via the Click2Match smart business matching platform. Over 1,800 meetings between exhibitors and buyers have been scheduled.

Positive outlook with 60% exhibitors and buyers predicting uptick in sales this year

In a survey conducted on-site by the HKTDC, some key findings include:

Market and industry outlook:

• Around 60% of exhibitors (62%) and buyers (61%) expect their business growth to return to pre-pandemic levels in a year.
• More than 60% of respondents foresee that overall sales will pick up in 2023 and 74% of buyers anticipate a rise in sourcing cost.
• Factors that are expected to bring opportunities for the industry in 2023 include: the recovering purchasing power from customers (57%), rising demand from emerging markets (34%) and the potential to expand business in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) (13%).
• Anticipation of the growth prospects of jewellery products in the target sales market are satisfactory in the next two years: Mainland China (78%), Hong Kong (71%), ASEAN countries (64%), Northern & Western Europe (58%), North America (55%)

Challenges: fluctuations of the global economy (51%) and impact of inflation (46%) as well as fluctuating exchange rate (35%) were seen as key challenges.

Product trends:

• Karat white gold and Karat yellow gold are expected to be the most popular metal product in 2023;
• Diamond will be the most in-demand gemstone;
• Social media, e-commerce and big data will have the greatest impact on the jewellery industry in the next three years.

HK$100 million sales recorded by some exhibitors

In addition to the high volume of buyers and exhibitors, robust business results were seen across the shows. Exhibitor Bruno Scarselli and Davide Scarselli, Co-owners of Scarselli Diamonds Inc, from the United States shared: “The twin shows are making a strong comeback this year. After the pandemic, the mood is positive and buyers are willing to buy. We have met a lot of buyers from Europe, Japan, Korea, Mainland China and the Middle East who are very interested in our blue and pink diamonds. Twelve buyers, including six from Mainland China, already placed on-site orders amounting to US$11-12 million for our fancy colour diamonds.”

More major fairs for technology and lifestyle sectors

On the heels of these two exhibitions, the HKTDC will organise a series of trade fairs in April, including InnoEx, Hong Kong Electronics Fair (Spring Edition) and Hong Kong International Lighting Fair (Spring Edition) on 12-15 April; Hong Kong Gifts & Premium Fair, Fashion InStyle, Home InStyle and more on 19-22 April. These events will provide buyers with a unique one-stop sourcing experience and help exhibitors expand their market reach, while boosting Hong Kong’s economy.

Organised by the Hong Kong Trade Development Council (HKTDC), the 39th HKTDC Hong Kong International Jewellery Show and 9th HKTDC Hong Kong International Diamond, Gem & Pearl Show concluded successfully