A JOINT venture between Indonesia’s Panorama Group and Reed Exhibitions has been formed, giving rise to Reed Panorama Exhibitions (RPE) and the new entity’s first trade exhibition, Mining & Engineering Indonesia Expo, which will take place in Jakarta this October.

With this partnership, Panorama Group’s MICE arm, Panorama Convex Indah, will have its exhibitions division drawn into RPE. Panorama Convex Indah will also take on a revised name to reflect its new specialisation – Panorama Meetings and Events.

Budi Tirtawisata, CEO of Panorama Group, said: “MICE is one of the five pillars in Panorama Group. Panorama Convex Indah has been growing well since we launched it 12 years ago. We see an opportunity to grow it further, as the Indonesian economy is booming.

“Indonesia is a highly promising destination for many industry sectors, (but) the exhibition industry in the country is still at an emerging stage.”

Tirtawisata said the formation of RPE was necessary to “raise the quality of trade shows in Jakarta”, and that the move was in line with the group’s plan to “become a global company through international networking”.

Reed Exhibitions Asia-Pacific president, Paul Beh, said: “Indonesia’s stellar economic growth in the past few years and sizable young demographic make it a highly attractive destination for foreign direct investment. Beyond the BRIC economies, Indonesia ranks high in the business agenda of multiple industries around the world. Our customers are telling us to bring them to Indonesia and help them find new businesses. This is the right time to be in Indonesia.”

RPE’s new Mining & Engineering Indonesia Expo, which will target 300 local and international sellers and 3,000 visitors, joins Panorama Convex Indah’s stable of six exhibitions.

“We are aiming to add two new events every year, so in the next five years we will have 17,” Beh said. “We are open to partnerships, be it equity partnerships, acquisitions or managing exhibitions such as those belonging to associations and the government.”

Tirtawisata expects the joint venture to grow business volume by seven to ten times, and revenue by three to four folds over the next five years.

MACAU welcomed six fewer events during the first quarter of this year, compared to the same period in 2011, reflecting a sustained downward trend in its quarterly MICE performance.

In 4Q2011, the destination registered 272 events, 108 fewer than the same quarter the year before.

Although its events count is down, Macau saw an increase in the total number of event attendees. Events in 1Q2012 attracted 161,781 attendees, representing a 26-per cent year-on-year increase.

Hong Kong-based C&E Conference and Exhibition Management general manager, Clemson Lo, who observed a drop in meetings and incentive enquiries for Macau over the past six months – which he attributed to the destination’s rising hotel room and venue rental rates – said the stronger attendance figures could have included day visitors from China.

Off-Site Connections Events Solutions managing director, Peter Hassall, blamed the decrease in MICE events on a “globally suppressed market”.

Hassall added: “The total number of participants (in 1Q2012) may have increased because of two major exhibitions held in the first quarter. More than 15,000 people attended each exhibition, which makes up almost 20 per cent of the total participants registered in Q1. As Macau (adds) more venues, hopefully we will continue to see (more of) such large-scale events hosted here.”

Meanwhile, the Macau Government Tourist Office (MGTO) has also seen a slowdown in applications for its extended Incentive Travel Stimulation Programme, which offers support to event organisers throughout 2012.

According to an MGTO spokesperson, 55 incentive travel groups with a total of 19,439 participants were approved in 2011. In the first four months of 2012, only 16 groups with a total of 6,786 participants were approved.

The spokesperson attributed the decline to global economic instability in the last quarter, and added that “signs of an economic recovery” and new attractions in Macau would bring about a boost in application numbers for the rest of the year.

SRI Lankan conglomerate, Expolanka Holdings, has acquired a 50 per cent stake and full control of Mumbai-based Akquasun Holidays, which is said to be a destination management network that specialises in both inbound and outbound tourism.

Akquasun has offices in 11 destinations including the Maldives, Hong Kong, China, South Africa, Russia and the US, and these work closely with travel agents, tour operators and event specialists in facilitating arrivals.

Chaminda Dias, executive director at Luxe Asia, an inbound tourism company which is part of Expolanka, said the acquisition would take Akquasun “to the next level”.

He said: “We (Expolanka) plan to set up new sales teams in the established overseas offices to attract clients to (destinations) such as the Maldives, Sri Lanka, Mauritius, etc.”

Dias explained that prior to the acquisition, Akquasun handled mostly Indian outbound traffic to destinations where it has operations. Now, with Expolanka’s backing, Akquasun will increasingly canvass for business in markets such as Russia and China.

“(Akquasun) was also involved in sending (sizable) MICE (groups) to Hong Kong, Sri Lanka and Macau. We hope to replicate this Indian model with the new and enhanced operations in Russia, China and the Midde East, and encourage MICE travellers (from these markets) to visit (destinations such as) Sri Lanka and the Maldives,” he added.

Expolanka’s ultimate goal is to transform Akquasun into a US$100 million (annual turnover) company in the next few years, from US$30-40 million currently.

“We want to grow the company’s outbound market share to 10 per cent, up from its current three to four per cent share in countries that Indians are visiting,” Dias said, adding that the company accounts for some 7,000 Indian visitors per annum to Mauritius, making it the second largest operator in that market.